Citi Trends Inc
For the period ended Feb 1, 2025. Filed Apr 16, 2025.
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FY2025 · Filed Apr 16, 2025
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Item 2. Properties
Store Locations
As of February 1, 2025, we operated 591 stores located in 33 states. Our stores average approximately 11,000 square feet of selling space and are typically located in outdoor community shopping centers that are convenient to mid- to low-income African American customers.
We have no franchising relationships, and all of the stores are company operated. All existing 591 stores, totaling 7.9 million total square feet and 6.5 million selling square feet, are leased under operating leases. The typical store lease is for five years with options to extend the lease term for three additional five-year periods. Nearly all store leases provide us the right to cancel following an initial three-year period in the event the store does not meet pre-determined sales levels. The table below sets forth the number of stores in each of the 33 states in which we operated as of February 1, 2025:
| | |
|---|---|
| Alabama | 35 |
| Arkansas | 15 |
| California | 7 |
| Connecticut | 5 |
| Delaware | 3 |
| Florida | 50 |
| Georgia | 60 |
| Illinois | 25 |
| Indiana | 18 |
| Iowa | 3 |
| Kansas | 2 |
| Kentucky | 7 |
| Louisiana | 34 |
| Maryland | 9 |
| Massachusetts | 5 |
| Michigan | 23 |
| Minnesota | 2 |
| Mississippi | 30 |
| Missouri | 8 |
| Nebraska | 1 |
| Nevada | 3 |
| New Jersey | 2 |
| New York | 12 |
| North Carolina | 47 |
| Ohio | 30 |
| Oklahoma | 6 |
| Pennsylvania | 9 |
| Rhode Island | 1 |
| South Carolina | 41 |
| Tennessee | 17 |
| Texas | 56 |
| Virginia | 19 |
| Wisconsin | 6 |
Corporate Offices and Distribution Center Facilities
We own a facility in Savannah, Georgia which serves as our headquarters and, to a lesser extent, as a storage facility. In addition, we currently lease office space in New York City.
We lease and operate two distribution centers, one in Darlington, South Carolina totaling approximately 550,000 square feet, and another in Roland, Oklahoma totaling approximately 565,000 square feet.
We believe our facilities are suitable and adequate to meet our current business and operational needs.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.