Citi Trends Inc

For the period ended Feb 3, 2024. Filed Apr 18, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Apr 18, 2024

CTRN$45.56-2.0%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows

(in thousands)


	Fiscal Year
		2023	2022		2021
Operating activities:
Net (loss) income		$(11,979)		$58,892		$62,240
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		18,990		20,595		20,393
Non-cash operating lease costs		50,462		51,310		50,455
Asset impairment		1,051		—		—
Loss on disposal of property and equipment		238		10		201
Deferred income taxes		(2,211)		99		3,203
Insurance proceeds related to operating activities		3,483		1,575		804
Non-cash stock-based compensation expense		4,095		3,635		4,776
Gain on sale of assets or insurance related activities		(3,483)		(64,088)		—
Changes in assets and liabilities:
Inventory		(24,638)		16,826		(20,381)
Prepaid and other current assets		2,139		1,660		2,011
Other assets		178		134		(278)
Accounts payable		17,861		(18,329)		12,833
Accrued expenses and other long-term liabilities		(58,318)		(54,844)		(53,187)
Accrued compensation		(3,977)		(15,073)		(5)
Income tax payable/receivable		(3,508)		3,372		(8,610)
Layaway deposits		40		(20)		(136)
Net cash (used in) provided by operating activities		(9,577)		5,754		74,319

Investing activities:
Sales/redemptions of investment securities		—		—		35,272
Purchases of investment securities		—		—		(35,272)
Purchases of property and equipment		(14,875)		(22,287)		(29,707)
Insurance proceeds related to investing activities		1,517		1,370		192
Proceeds from sale-leasebacks		—		81,098		—
Net cash (used in) provided by investing activities		(13,358)		60,181		(29,515)

Financing activities:
Payment of debt issuance costs		—		—		(270)
Cash used to settle withholding taxes on vested restricted stock		(854)		(2,228)		(2,638)
Repurchase of common stock		—		(10,000)		(115,285)
Net cash used in financing activities		(854)		(12,228)		(118,193)
Net (decrease) increase in cash and cash equivalents		(23,789)		53,707		(73,389)

Cash and cash equivalents:
Beginning of year		103,495		49,788		123,177
End of year		$79,706		$103,495		$49,788

Supplemental disclosures of cash flow information:
Cash paid for interest		$159		$158		$176
Cash payments of income taxes		$1,813		$13,842		$22,409
Supplemental disclosures of non-cash investing activities:
Accrual for purchases of property and equipment		$2,936		$1,522		$2,847
Conversion of nonvested cash-settled units to nonvested shares under incentive plan		$—		$—		$3,415

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.