10-Q Filing

CITI TRENDS INC CIK: 1318484 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001558370-20-007443`
Period End Date	20200430
Filing Date	20200611
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	ctrn-20200502.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 30 Cash Flow Statement 65 Stockholders Equity 27

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$262.57M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$267.33M	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	32.00M	shares	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.92M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$108.13M	USD	Point-in-time
Common stock, authorized shares	`CommonStockSharesAuthorized`	32.00M	shares	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.48M	USD	Point-in-time
Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.86M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.95M	shares	Point-in-time
Short-term investment securities	`ShortTermInvestments`	$27.56M	USD	Point-in-time
Short-term investment securities	`ShortTermInvestments`	$5.00K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	15.91M	shares	Point-in-time
Inventory	`InventoryNet`	$138.26M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.62M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	10.83M	shares	Point-in-time
Inventory	`InventoryNet`	$121.89M	USD	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$10.05M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	5.33M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	5.07M	shares	Point-in-time
Prepaid and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$14.28M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$1.19M	USD	Point-in-time
Income tax receivable	`IncomeTaxesReceivable`	$85.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$201.21M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$240.16M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $267,330 and $262,570 as of May 2, 2020 and February 1, 2020, respectively	`PropertyPlantAndEquipmentNet`	$64.85M	USD	Point-in-time
Property and equipment, net of accumulated depreciation of $267,330 and $262,570 as of May 2, 2020 and February 1, 2020, respectively	`PropertyPlantAndEquipmentNet`	$64.98M	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$166.75M	USD	Point-in-time
Operating lease right of use assets	`OperatingLeaseRightOfUseAsset`	$169.85M	USD	Point-in-time
Long-term investment securities	`LongTermInvestments`	$15.68M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$14.33M	USD	Point-in-time
Deferred income taxes	`DeferredIncomeTaxAssetsNet`	$6.67M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$755.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$755.00K	USD	Point-in-time
Total assets	`Assets`	$459.14M	USD	Point-in-time
Total assets	`Assets`	$486.84M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$94.25M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$79.60M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$42.94M	USD	Point-in-time
Operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$50.83M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$11.53M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$14.76M	USD	Point-in-time
Accrued compensation	`AccruedEmployeeBenefitsCurrent`	$13.01M	USD	Point-in-time
Accrued compensation	`AccruedEmployeeBenefitsCurrent`	$7.52M	USD	Point-in-time
Layaway deposits	`DeferredIncome`	$1.05M	USD	Point-in-time
Layaway deposits	`DeferredIncome`	$554.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$150.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$165.19M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$133.17M	USD	Point-in-time
Noncurrent operating lease liabilities	`OperatingLeaseLiabilityNoncurrent`	$135.32M	USD	Point-in-time
Revolving credit facility	`LongTermDebtNoncurrent`	$43.70M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.73M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.92M	USD	Point-in-time
Total liabilities	`Liabilities`	$343.79M	USD	Point-in-time
Total liabilities	`Liabilities`	$288.10M	USD	Point-in-time
Common stock, $0.01 par value. Authorized 32,000,000 shares; 15,950,332 shares issued as of May 2, 2020 and 15,907,666 shares issued as of February 1, 2020; 10,616,546 shares outstanding as of May 2, 2020 and 10,834,134 shares outstanding as of February 1, 2020	`CommonStockValue`	$157.00K	USD	Point-in-time
Common stock, $0.01 par value. Authorized 32,000,000 shares; 15,950,332 shares issued as of May 2, 2020 and 15,907,666 shares issued as of February 1, 2020; 10,616,546 shares outstanding as of May 2, 2020 and 10,834,134 shares outstanding as of February 1, 2020	`CommonStockValue`	$158.00K	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapitalCommonStock`	$93.18M	USD	Point-in-time
Paid in capital	`AdditionalPaidInCapitalCommonStock`	$93.17M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$165.05M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$186.77M	USD	Point-in-time
Treasury stock, at cost; 5,333,786 shares held as of May 2, 2020 and 5,073,532 shares held as of February 1, 2020	`TreasuryStockValue`	$115.32M	USD	Point-in-time
Treasury stock, at cost; 5,333,786 shares held as of May 2, 2020 and 5,073,532 shares held as of February 1, 2020	`TreasuryStockValue`	$109.06M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$187.43M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$190.55M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$143.06M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$171.04M	USD	Point-in-time
Commitments and contingencies (note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$459.14M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$486.84M	USD	Point-in-time

Income Statement 30 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$205.03M	USD	1 Quarter
Net sales	`Revenues`	$116.12M	USD	1 Quarter
Cost of sales (exclusive of depreciation shown separately below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$84.37M	USD	1 Quarter
Cost of sales (exclusive of depreciation shown separately below)	`CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization`	$128.24M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$63.45M	USD	1 Quarter
Selling, general and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$54.08M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$4.61M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$4.95M	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$286.00K	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
(Loss) Income from operations	`OperatingIncomeLoss`	$-27.55M	USD	1 Quarter
(Loss) Income from operations	`OperatingIncomeLoss`	$8.73M	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$379.00K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$217.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$163.00K	USD	1 Quarter
Interest expense	`InterestExpense`	$38.00K	USD	1 Quarter
(Loss) Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-27.50M	USD	1 Quarter
(Loss) Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$9.07M	USD	1 Quarter
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	$-6.61M	USD	1 Quarter
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	$1.29M	USD	1 Quarter
Net (loss) income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-20.89M	USD	1 Quarter
Net (loss) income	`NetIncomeLossAvailableToCommonStockholdersBasic`	$7.79M	USD	1 Quarter
Basic net (loss) income per common share	`EarningsPerShareBasic`	$-2.00	USD	1 Quarter
Basic net (loss) income per common share	`EarningsPerShareBasic`	$0.65	USD	1 Quarter
Diluted net (loss) income per common share	`EarningsPerShareDiluted`	$-2.00	USD	1 Quarter
Diluted net (loss) income per common share	`EarningsPerShareDiluted`	$0.65	USD	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	10.44M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	11.98M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	10.44M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	12.01M	shares	1 Quarter

Cash Flow Statement 65 line items

Line Item	Tag	Value	Unit	Period
Net (loss) income	`ProfitLoss`	$-20.89M	USD	1 Quarter
Net (loss) income	`ProfitLoss`	$7.79M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$4.61M	USD	1 Quarter
Depreciation	`DepreciationDepletionAndAmortization`	$4.95M	USD	1 Quarter
Non-cash operating lease costs	`OperatingLeaseRightOfUseAssetAmortization`	$11.76M	USD	1 Quarter
Non-cash operating lease costs	`OperatingLeaseRightOfUseAssetAmortization`	$11.78M	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	$286.00K	USD	1 Quarter
Asset impairment	`AssetImpairmentCharges`	-	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.00K	USD	1 Quarter
Loss on disposal of property and equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-4.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$153.00K	USD	1 Quarter
Deferred income taxes	`DeferredIncomeTaxExpenseBenefit`	$-7.67M	USD	1 Quarter
Non-cash stock-based compensation expense	`ShareBasedCompensation`	$706.00K	USD	1 Quarter
Non-cash stock-based compensation expense	`ShareBasedCompensation`	$469.00K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-8.59M	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-16.37M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-4.20M	USD	1 Quarter
Prepaid and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$477.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$4.00K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-1.00K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-9.63M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$14.03M	USD	1 Quarter
Accrued expenses and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-11.90M	USD	1 Quarter
Accrued expenses and other long-term liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-6.79M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-4.60M	USD	1 Quarter
Accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-5.49M	USD	1 Quarter
Income tax receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$1.10M	USD	1 Quarter
Income tax receivable/payable	`IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable`	$1.16M	USD	1 Quarter
Layaway deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$495.00K	USD	1 Quarter
Layaway deposits	`IncreaseDecreaseInContractWithCustomerLiability`	$729.00K	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$12.82M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$8.90M	USD	1 Quarter
Sales/redemptions of investment securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$13.15M	USD	1 Quarter
Sales/redemptions of investment securities	`ProceedsFromSaleAndMaturityOfMarketableSecurities`	$43.75M	USD	1 Quarter
Purchases of investment securities	`PaymentsToAcquireMarketableSecurities`	$522.00K	USD	1 Quarter
Purchases of investment securities	`PaymentsToAcquireMarketableSecurities`	$4.83M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$2.29M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquireProductiveAssets`	$3.98M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$39.25M	USD	1 Quarter
Net cash provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$6.03M	USD	1 Quarter
Borrowings under revolving credit facility	`ProceedsFromLinesOfCredit`	$43.70M	USD	1 Quarter
Cash used to settle withholding taxes on the vesting of nonvested restricted stock	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$712.00K	USD	1 Quarter
Cash used to settle withholding taxes on the vesting of nonvested restricted stock	`PaymentsRelatedToTaxWithholdingForShareBasedCompensation`	$479.00K	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividends`	$958.00K	USD	1 Quarter
Dividends paid to stockholders	`PaymentsOfDividends`	$831.00K	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$1.64M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$6.25M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-3.31M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$36.14M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$11.62M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$88.21M	USD	1 Quarter
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.92M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$108.13M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.48M	USD	Point-in-time
Beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.86M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$19.92M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$108.13M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$29.48M	USD	Point-in-time
End of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$17.86M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$31.00K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$163.00K	USD	1 Quarter
Cash refunds of income taxes	`ProceedsFromIncomeTaxRefunds`	$45.00K	USD	1 Quarter
Cash refunds of income taxes	`ProceedsFromIncomeTaxRefunds`	$1.00K	USD	1 Quarter
Accrual for purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$1.03M	USD	1 Quarter
Accrual for purchases of property and equipment	`CapitalExpendituresIncurredButNotYetPaid`	$936.00K	USD	1 Quarter

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Dividends paid to stockholders	`CommonStockDividendsPerShareCashPaid`	$0.08	USD	1 Quarter
Dividends paid to stockholders	`CommonStockDividendsPerShareCashPaid`	$0.08	USD	1 Quarter
Balances	`StockholdersEquity`	$187.43M	USD	Point-in-time
Balances	`StockholdersEquity`	$190.55M	USD	Point-in-time
Balances	`StockholdersEquity`	$143.06M	USD	Point-in-time
Balances	`StockholdersEquity`	$171.04M	USD	Point-in-time
Balances (in shares)	`CommonStockSharesIssued`	15.95M	shares	Point-in-time
Balances (in shares)	`CommonStockSharesIssued`	15.91M	shares	Point-in-time
Adoption of lease accounting standard (See Note 12)	`CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption`	$-2.06M	USD	Point-in-time
Vesting of nonvested restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$1.00K	USD	1 Quarter
Vesting of nonvested restricted stock units	`StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures`	$1.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$469.00K	USD	1 Quarter
Stock-based compensation expense	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$706.00K	USD	1 Quarter
Net share settlement of nonvested shares and restricted stock units	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$479.00K	USD	1 Quarter
Net share settlement of nonvested shares and restricted stock units	`AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation`	$713.00K	USD	1 Quarter
Repurchase of common stock	`StockRepurchasedDuringPeriodValue`	$1.64M	USD	1 Quarter
Repurchase of common stock	`StockRepurchasedDuringPeriodValue`	$6.25M	USD	1 Quarter
Dividends paid to stockholders	`DividendsCommonStock`	$958.00K	USD	1 Quarter
Dividends paid to stockholders	`DividendsCommonStock`	$831.00K	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-20.89M	USD	1 Quarter
Net loss	`NetIncomeLossAvailableToCommonStockholdersBasic`	$7.79M	USD	1 Quarter
Balances	`StockholdersEquity`	$187.43M	USD	Point-in-time
Balances	`StockholdersEquity`	$190.55M	USD	Point-in-time
Balances	`StockholdersEquity`	$143.06M	USD	Point-in-time
Balances	`StockholdersEquity`	$171.04M	USD	Point-in-time
Balances (in shares)	`CommonStockSharesIssued`	15.95M	shares	Point-in-time
Balances (in shares)	`CommonStockSharesIssued`	15.91M	shares	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.