Citi Trends Sees FY25 Comparable Store Sales Growth Of Mid-Single Digits (Prior Low To Mid-Single Digits)

Fiscal 2025 Outlook

The Company is updating its fiscal 2025 outlook as follows:

• Expecting full year comparable store sales growth of mid-single digits, at the high end of previous outlook of low to mid-single digit growth
• Full year gross margin rate expected to increase approximately 200 basis points vs. fiscal 2024, slightly below previous outlook due to an elongated timeline for the repair phase of the supply chain transformation
• SG&A is now expected to leverage in the range of 60 basis points to 80 basis points vs. fiscal 2024, above previous outlook on higher expected sales, inclusive of increased incentive compensation accruals related to business performance
• Full year EBITDA* is now expected to be in the range of $6 million to $10 million, above previous outlook, a $20 million to $24 million improvement vs. 2024
• Expecting fiscal 2025 effective tax rate of approximately 0%, consistent with previous outlook
• The Company continues to plan to open up to 5 new stores, remodel approximately 50 stores and close up to 5 locations
• Expected full year capital expenditures remain in the range of $18 million to $22 million