Citi Trends Updates Guidance As Q1 Earnings Miss Estimates Due To Low Customer Spend
Portfolio Pulse from Shivani Kumaresan
Citi Trends Inc (NASDAQ:CTRN) reported a 13.7% YoY decline in Q1 FY23 sales to $179.7 million, missing analyst estimates. Adjusted EPS of $(0.66) also missed the consensus of $(0.30). The company updated its FY23 sales guidance and lowered its EBITDA and capital expenditure outlook.
May 23, 2023 | 1:19 pm
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Citi Trends missed Q1 estimates with a 13.7% YoY sales decline and adjusted EPS of $(0.66). The company updated its FY23 guidance and lowered its EBITDA and capital expenditure outlook.
Citi Trends missed both sales and EPS estimates for Q1, indicating a weaker-than-expected performance. The company also updated its FY23 guidance, lowering its EBITDA and capital expenditure outlook, which may negatively impact investor sentiment and the stock price in the short term.
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