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19.38
1.73%
0.33
After Hours:
19.38
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Why is Citi Trends Inc (CTRN) Stock down?
We've noticed a 6.04% decline in Citi Trends Inc (CTRN) stock during the 2024-08-28 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
28 Nov, 2023:
Shares of Citi Trends Inc (CTRN) dropped by 12.05% from $26.39 to $23.21 in the trading on Tuesday, November 28, 2023. The reason why CTRN is down today is due to the company reporting a much larger-than-expected loss for the third quarter. Analysts had predicted a $0.17 per share loss, but the actual loss was $0.56 per share. Sales also fell by 6.7%, and the company faced challenges in a tough clothing retail environment, particularly for its low-income customer base. The combination of declining sales and flat margins led to a significant drop in profits, and the outlook for the rest of the year remains uncertain. This disappointing financial performance likely drove the decline in CTRN shares.
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