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
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100