Citi Trends Expects Full Year Total Sales To Be Down Mid-Single Digits (Prior View: Negative Mid Single-Digits To Negative Low Single-Digits)
Portfolio Pulse from Benzinga Newsdesk
Citi Trends has updated its full-year sales expectations, now anticipating a mid-single-digit decline. This is a slight downgrade from its previous forecast, which ranged from a negative mid-single-digit to a negative low-single-digit decrease.
November 28, 2023 | 11:50 am
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Citi Trends, represented by the symbol CTRN, has revised its full-year sales forecast to a mid-single-digit decline, indicating a potential negative impact on its stock price in the short term.
The revision of the sales forecast by Citi Trends to a more negative outlook is likely to be perceived poorly by investors, as it suggests that the company's financial performance may be weaker than previously expected. This could lead to a decrease in investor confidence and a potential drop in the stock price in the short term.
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