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10-Q Filing

CITI TRENDS INC CIK: 1318484 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0001558370-22-009869
Period End Date 20220430
Filing Date 20220609
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance ctrn-20220430x10q_htm.xml
Filing Contents
Balance Sheet 68 line items
Line Item Tag Value Unit Period
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $283.44M USD Point-in-time
Accumulated depreciation AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $268.98M 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
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.79M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $61.66M USD Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $131.28M USD Point-in-time
Common stock, authorized shares CommonStockSharesAuthorized 32.00M shares Point-in-time
Cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $123.18M USD Point-in-time
Common stock, authorized shares CommonStockSharesAuthorized 32.00M shares Point-in-time
Inventory InventoryNet $123.83M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 16.16M shares Point-in-time
Inventory InventoryNet $129.72M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 16.09M shares Point-in-time
Prepaid and other current assets PrepaidExpenseAndOtherAssetsCurrent $15.00M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 8.62M shares Point-in-time
Prepaid and other current assets PrepaidExpenseAndOtherAssetsCurrent $16.35M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 8.52M shares Point-in-time
Treasury stock, shares TreasuryStockShares 7.47M shares Point-in-time
Income tax receivable IncomeTaxesReceivable $3.99M USD Point-in-time
Treasury stock, shares TreasuryStockShares 7.64M shares Point-in-time
Total current assets AssetsCurrent $192.61M USD Point-in-time
Total current assets AssetsCurrent $207.73M USD Point-in-time
Property and equipment, net of accumulated depreciation of $268,982 and $283,445 as of April 30, 2022 and January 29, 2022, respectively PropertyPlantAndEquipmentNet $68.21M USD Point-in-time
Property and equipment, net of accumulated depreciation of $268,982 and $283,445 as of April 30, 2022 and January 29, 2022, respectively PropertyPlantAndEquipmentNet $75.28M USD Point-in-time
Operating lease right of use assets OperatingLeaseRightOfUseAsset $241.69M USD Point-in-time
Operating lease right of use assets OperatingLeaseRightOfUseAsset $201.83M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $2.99M USD Point-in-time
Deferred income taxes DeferredIncomeTaxAssetsNet $4.32M USD Point-in-time
Other assets OtherAssetsNoncurrent $1.29M USD Point-in-time
Other assets OtherAssetsNoncurrent $1.32M USD Point-in-time
Total assets Assets $523.23M USD Point-in-time
Total assets Assets $474.02M USD Point-in-time
Accounts payable AccountsPayableCurrent $98.88M USD Point-in-time
Accounts payable AccountsPayableCurrent $87.86M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $46.91M USD Point-in-time
Operating lease liabilities OperatingLeaseLiabilityCurrent $47.80M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $14.53M USD Point-in-time
Accrued expenses AccruedLiabilitiesCurrent $22.44M USD Point-in-time
Accrued compensation AccruedEmployeeBenefitsCurrent $25.90M USD Point-in-time
Accrued compensation AccruedEmployeeBenefitsCurrent $11.18M USD Point-in-time
Income tax payable AccruedIncomeTaxesCurrent $6.71M USD Point-in-time
Layaway deposits DeferredIncome $944.00K USD Point-in-time
Layaway deposits DeferredIncome $364.00K USD Point-in-time
Total current liabilities LiabilitiesCurrent $187.47M USD Point-in-time
Total current liabilities LiabilitiesCurrent $176.04M USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $168.30M USD Point-in-time
Noncurrent operating lease liabilities OperatingLeaseLiabilityNoncurrent $203.86M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $2.10M USD Point-in-time
Other long-term liabilities OtherLiabilitiesNoncurrent $2.15M USD Point-in-time
Total liabilities Liabilities $382.05M USD Point-in-time
Total liabilities Liabilities $357.88M USD Point-in-time
Common stock, $0.01 par value. Authorized 32,000,000 shares; 16,128,450 shares issued as of April 30, 2022 and 16,090,365 shares issued as of January 29, 2022; 8,500,859 shares outstanding as of April 30, 2022 and 8,617,210 shares outstanding as of January 29, 2022 CommonStockValue $159.00K USD Point-in-time
Common stock, $0.01 par value. Authorized 32,000,000 shares; 16,128,450 shares issued as of April 30, 2022 and 16,090,365 shares issued as of January 29, 2022; 8,500,859 shares outstanding as of April 30, 2022 and 8,617,210 shares outstanding as of January 29, 2022 CommonStockValue $159.00K USD Point-in-time
Paid in capital AdditionalPaidInCapitalCommonStock $101.19M USD Point-in-time
Paid in capital AdditionalPaidInCapitalCommonStock $101.04M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $302.36M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $272.16M USD Point-in-time
Treasury stock, at cost; 7,627,591 shares held as of April 30, 2022 and 7,473,155 shares held as of January 29, 2022 TreasuryStockValue $262.53M USD Point-in-time
Treasury stock, at cost; 7,627,591 shares held as of April 30, 2022 and 7,473,155 shares held as of January 29, 2022 TreasuryStockValue $257.21M USD Point-in-time
Total stockholders' equity StockholdersEquity $163.63M USD Point-in-time
Total stockholders' equity StockholdersEquity $141.18M USD Point-in-time
Total stockholders' equity StockholdersEquity $147.99M USD Point-in-time
Total stockholders' equity StockholdersEquity $116.14M USD Point-in-time
Commitments and contingencies (Note 7) CommitmentsAndContingencies - USD Point-in-time
Commitments and contingencies (Note 7) CommitmentsAndContingencies - USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $474.02M USD Point-in-time
Total liabilities and stockholders' equity LiabilitiesAndStockholdersEquity $523.23M USD Point-in-time
Income Statement 28 line items
Line Item Tag Value Unit Period
Net sales Revenues $208.22M USD 1 Quarter
Net sales Revenues $285.38M USD 1 Quarter
Cost of sales (exclusive of depreciation) CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization $163.79M USD 1 Quarter
Cost of sales (exclusive of depreciation) CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization $127.01M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $77.89M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $71.03M USD 1 Quarter
Depreciation DepreciationDepletionAndAmortization $5.45M USD 1 Quarter
Depreciation DepreciationDepletionAndAmortization $4.70M USD 1 Quarter
Gain on sale-leaseback SaleAndLeasebackTransactionGainLossNet $34.92M USD 1 Quarter
Income from operations OperatingIncomeLoss $39.65M USD 1 Quarter
Income from operations OperatingIncomeLoss $39.00M USD 1 Quarter
Interest income InvestmentIncomeInterest $4.00K USD 1 Quarter
Interest expense InterestExpense $76.00K USD 1 Quarter
Interest expense InterestExpense $47.00K USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $38.96M USD 1 Quarter
Income before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $39.58M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $9.37M USD 1 Quarter
Income tax provision IncomeTaxExpenseBenefit $8.06M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $30.90M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $30.20M USD 1 Quarter
Basic net income per common share EarningsPerShareBasic $3.27 USD 1 Quarter
Basic net income per common share EarningsPerShareBasic $3.59 USD 1 Quarter
Diluted net income per common share EarningsPerShareDiluted $3.23 USD 1 Quarter
Diluted net income per common share EarningsPerShareDiluted $3.59 USD 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 9.45M shares 1 Quarter
Basic WeightedAverageNumberOfSharesOutstandingBasic 8.41M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 9.57M shares 1 Quarter
Diluted WeightedAverageNumberOfDilutedSharesOutstanding 8.41M shares 1 Quarter
Cash Flow Statement 62 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $30.90M USD 1 Quarter
Net income ProfitLoss $30.20M USD 1 Quarter
Depreciation DepreciationDepletionAndAmortization $5.45M USD 1 Quarter
Depreciation DepreciationDepletionAndAmortization $4.70M USD 1 Quarter
Non-cash operating lease costs OperatingLeaseRightOfUseAssetAmortizationExpense $12.21M USD 1 Quarter
Non-cash operating lease costs OperatingLeaseRightOfUseAssetAmortizationExpense $12.47M USD 1 Quarter
Loss on disposal of property and equipment GainLossOnSaleOfPropertyPlantEquipment $-53.00K USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $1.05M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxExpenseBenefit $-1.32M USD 1 Quarter
Insurance proceeds related to operating activities InsuranceProceedsFromOperatingActivities $794.00K USD 1 Quarter
Insurance proceeds related to operating activities InsuranceProceedsFromOperatingActivities $451.00K USD 1 Quarter
Non-cash stock-based compensation expense ShareBasedCompensation $1.09M USD 1 Quarter
Non-cash stock-based compensation expense ShareBasedCompensation $2.28M USD 1 Quarter
Gain on sale-leaseback SaleAndLeasebackTransactionGainLossNet $34.92M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $6.49M USD 1 Quarter
Inventory IncreaseDecreaseInInventories $-1.65M USD 1 Quarter
Prepaid and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $1.54M USD 1 Quarter
Prepaid and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $1.93M USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $-30.00K USD 1 Quarter
Other assets IncreaseDecreaseInOtherOperatingAssets $402.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $24.53M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $-11.27M USD 1 Quarter
Accrued expenses and other long-term liabilities IncreaseDecreaseInAccruedLiabilities $-8.60M USD 1 Quarter
Accrued expenses and other long-term liabilities IncreaseDecreaseInAccruedLiabilities $-11.11M USD 1 Quarter
Accrued compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-11.25M USD 1 Quarter
Accrued compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-14.72M USD 1 Quarter
Income tax payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $6.98M USD 1 Quarter
Income tax payable IncreaseDecreaseInIncomeTaxesPayableNetOfIncomeTaxesReceivable $10.70M USD 1 Quarter
Layaway deposits IncreaseDecreaseInContractWithCustomerLiability $580.00K USD 1 Quarter
Layaway deposits IncreaseDecreaseInContractWithCustomerLiability $307.00K USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $-18.88M USD 1 Quarter
Net cash (used in) provided by operating activities NetCashProvidedByUsedInOperatingActivities $61.74M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquireProductiveAssets $8.01M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquireProductiveAssets $5.94M USD 1 Quarter
Insurance proceeds related to investing activities InsuranceProceedsFromInvestingActivities $191.00K USD 1 Quarter
Insurance proceeds related to investing activities InsuranceProceedsFromInvestingActivities $691.00K USD 1 Quarter
Proceeds from sale-leaseback ProceedsFromLeasePaymentSalesTypeAndDirectFinancingLeasesInvestingActivity $45.51M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $38.19M USD 1 Quarter
Net cash provided by (used in) investing activities NetCashProvidedByUsedInInvestingActivities $-5.75M USD 1 Quarter
Payments of debt issuance costs PaymentsOfDebtIssuanceCosts $270.00K USD 1 Quarter
Cash used to settle withholding taxes on the vesting of nonvested restricted stock PaymentsRelatedToTaxWithholdingForShareBasedCompensation $2.13M USD 1 Quarter
Cash used to settle withholding taxes on the vesting of nonvested restricted stock PaymentsRelatedToTaxWithholdingForShareBasedCompensation $2.15M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $5.32M USD 1 Quarter
Repurchases of common stock PaymentsForRepurchaseOfCommonStock $45.47M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-47.90M USD 1 Quarter
Net cash used in financing activities NetCashProvidedByUsedInFinancingActivities $-7.44M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $8.10M USD 1 Quarter
Net increase in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $11.87M USD 1 Quarter
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.79M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $61.66M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $131.28M USD Point-in-time
Beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $123.18M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $49.79M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $61.66M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $131.28M USD Point-in-time
End of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $123.18M USD Point-in-time
Cash paid for interest InterestPaidNet $32.00K USD 1 Quarter
Cash paid for interest InterestPaidNet $39.00K USD 1 Quarter
Cash (refunds) payments of income taxes IncomeTaxesPaidNet $-27.00K USD 1 Quarter
Cash (refunds) payments of income taxes IncomeTaxesPaidNet $2.00K USD 1 Quarter
Accrual for purchases of property and equipment CapitalExpendituresIncurredButNotYetPaid $1.65M USD 1 Quarter
Accrual for purchases of property and equipment CapitalExpendituresIncurredButNotYetPaid $1.02M USD 1 Quarter
Stockholders Equity 23 line items
Line Item Tag Value Unit Period
Balances StockholdersEquity $163.63M USD Point-in-time
Balances StockholdersEquity $141.18M USD Point-in-time
Balances StockholdersEquity $147.99M USD Point-in-time
Balances StockholdersEquity $116.14M USD Point-in-time
Balances (in shares) CommonStockSharesIssued 16.16M shares Point-in-time
Balances (in shares) CommonStockSharesIssued 16.09M shares Point-in-time
Vesting of nonvested shares StockIssuedDuringPeriodValueShareBasedCompensation $1.00K USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.09M USD 1 Quarter
Stock-based compensation expense AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $2.28M USD 1 Quarter
Net share settlement of nonvested shares AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $2.13M USD 1 Quarter
Net share settlement of nonvested shares AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation $2.15M USD 1 Quarter
Repurchase of common stock StockRepurchasedDuringPeriodValue $45.47M USD 1 Quarter
Repurchase of common stock StockRepurchasedDuringPeriodValue $5.32M USD 1 Quarter
Repurchase of common stock (in shares) StockRepurchasedDuringPeriodShares 170,000.00 shares 1 Quarter
Repurchase of common stock (in shares) StockRepurchasedDuringPeriodShares 537,000.00 shares 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $30.90M USD 1 Quarter
Net income NetIncomeLossAvailableToCommonStockholdersBasic $30.20M USD 1 Quarter
Balances StockholdersEquity $163.63M USD Point-in-time
Balances StockholdersEquity $141.18M USD Point-in-time
Balances StockholdersEquity $147.99M USD Point-in-time
Balances StockholdersEquity $116.14M USD Point-in-time
Balances (in shares) CommonStockSharesIssued 16.16M shares Point-in-time
Balances (in shares) CommonStockSharesIssued 16.09M shares Point-in-time

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

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