Citi Trends Shares Rise After 3Q Sales Guidance

Dow Jones

Nov 19, 2024

By Chris Wack

Citi Trends shares were up 6% to $17.30 after the company said it expects its third-quarter sales to come in above analysts' expectations.

The Savannah, Ga., company also appointed Kenneth Seipel as its new chief executive, effective Monday.

Shares of the retail company hit their 52-week low of $13.66 on Sept. 4, and are down 29% in the past 12 months.

Seipel has been serving as interim CEO since June 1. The board also appointed Peter Sachse, the current executive chairman of the board, as chairman.

Citi Trends said it is expecting third-quarter sales of $179.1 million and comparable store sales growth of 5.7% compared with the same quarter last year. Analysts polled by FactSet are looking for sales of $178.5 million.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

November 19, 2024 10:21 ET (15:21 GMT)

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The board also appointed Peter Sachse, the current executive chairman of the board, as chairman. \n\n\n  Citi Trends said it is expecting third-quarter sales of $179.1 million and comparable store sales growth of 5.7% compared with the same quarter last year. Analysts polled by FactSet are looking for sales of $178.5 million. \n\n\n \n\n\n  Write to Chris Wack at chris.wack@wsj.com \n\n\n  (END) Dow Jones Newswires\n\n\n  November 19, 2024 10:21 ET (15:21 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}