Citi Trends reports Q4 adjusted EPS 53c, consensus 79c

Reports Q4 revenue $215.2M, consensus $216.32M. CEO David Makuen commented, “I am pleased to report that Q4 and annual results were in line with our guidance. We delivered a solid holiday season as our Ready. Set. Gift! campaign resonated with existing and new customers…In particular, our focus on rebuilding inventories drove improved comps in targeted product categories…We enter 2024 in a strong financial position with total liquidity of $155M, including year-end cash of approximately $80M. We are pleased to establish our 2024 outlook which represents healthy top line growth and improved profitability. Midway through Q1, we are encouraged by our positive comp results and sequential improvement versus prior quarters driven by traffic growth and strong conversion…While the families we serve continue to face lingering economic pressures that we are monitoring closely, we are pulling multiple levers in support of our 2024 outlook.”