Revenue growth remains heavily dependent on seasonal cycles, with the 14.4% increase in 2026Q1 failing to offset structural margin constraints that keep operating margins at a thin 3.2%.
| Metric | TTM | Jan'26 | Jan'25 | Jan'24 | Jan'23 | Jan'22 | Jan'21 | Jan'20 | Jan'19 | Jan'18 | Jan'17 | Jan'16 | Jan'15 | Jan'14 | Jan'13 | Jan'12 | Jan'11 | Jan'10 | Jan'09 | Jan'08 | Jan'07 | Jan'06 | Jan'05 | Jan'04 |
|---|
| Sales/Revenue | 849.09M | 819.96M | 753.08M | 747.94M | 795.01M | 991.6M | 783.29M | 781.92M | 769.55M | 755.24M | 695.17M | 683.79M | 670.84M | 622.2M | 654.65M | 640.82M | 622.53M | 551.87M | 488.2M | 437.51M | 381.92M | 289.8M | 203.44M | 157.2M |
| Revenue Growth % | 5.72% | 8.88% | 0.69% | -5.92% | -19.82% | 26.59% | 0.18% | 1.61% | 1.9% | 8.64% | 1.66% | 1.93% | 7.82% | -4.96% | 2.16% | 2.94% | 12.8% | 13.04% | 11.59% | 14.56% | 31.78% | 42.45% | 29.42% | - |
| Cost of Goods Sold | 531.25M | 513.8M | 471.04M | 462.82M | 484.02M | 584.06M | 471.62M | 484.74M | 476.33M | 466.02M | 428.17M | 416.78M | 418.42M | 394.44M | 426.9M | 420.32M | 383.32M | 338.9M | 301.87M | 278.78M | 235.74M | 178.95M | 127.31M | 98.14M |
| COGS % of Revenue | - | 62.66% | 62.55% | 61.88% | 60.88% | 58.9% | 60.21% | 61.99% | 61.9% | 61.71% | 61.59% | 60.95% | 62.37% | 63.39% | 65.21% | 65.59% | 61.57% | 61.41% | 61.83% | 63.72% | 61.73% | 61.75% | 62.58% | 62.43% |
| Gross Profit | 317.84M | 306.16M | 282.04M | 285.12M | 310.99M | 407.53M | 311.68M | 297.19M | 293.23M | 289.22M | 267.01M | 267.01M | 252.42M | 227.76M | 227.75M | 220.5M | 239.21M | 212.97M | 186.34M | 158.73M | 146.17M | 110.85M | 76.13M | 59.05M |
| Gross Margin % | 37.43% | 37.34% | 37.45% | 38.12% | 39.12% | 41.1% | 39.79% | 38.01% | 38.1% | 38.29% | 38.41% | 39.05% | 37.63% | 36.61% | 34.79% | 34.41% | 38.43% | 38.59% | 38.17% | 36.28% | 38.27% | 38.25% | 37.42% | 37.57% |
| Gross Profit Growth % | - | 8.55% | -1.08% | -8.32% | -23.69% | 30.75% | 4.88% | 1.35% | 1.39% | 8.32% | -0% | 5.78% | 10.83% | 0% | 3.29% | -7.82% | 12.32% | 14.29% | 17.39% | 8.59% | 31.86% | 45.6% | 28.92% | - |
| Operating Expenses | 318.03M | 313.17M | 321.53M | 304.57M | 299.77M | 328.01M | 279.46M | 278.16M | 266.82M | 265.94M | 247.76M | 242.79M | 241.22M | 228.12M | 231.36M | 238.5M | 207.77M | 183.6M | 163.27M | 140.05M | 115.86M | 89.65M | 63.59M | 48.84M |
| OpEx % of Revenue | - | 38.19% | 42.7% | 40.72% | 37.71% | 33.08% | 35.68% | 35.57% | 34.67% | 35.21% | 35.64% | 35.51% | 35.96% | 36.66% | 35.34% | 37.22% | 33.37% | 33.27% | 33.44% | 32.01% | 30.34% | 30.93% | 31.26% | 31.07% |
| Selling, General & Admin | 80.03M | 313.17M | 300.17M | 284.53M | 279.18M | 307.62M | 260.2M | 259.63M | 247.94M | 247.06M | 230.67M | 224.22M | 221.04M | 206.15M | 207.41M | 207.03M | 187.23M | 165.17M | 147.01M | 127.47M | 107.53M | 89.65M | 63.59M | 48.84M |
| SG&A % of Revenue | - | 38.19% | 39.86% | 38.04% | 35.12% | 31.02% | 33.22% | 33.2% | 32.22% | 32.71% | 33.18% | 32.79% | 32.95% | 33.13% | 31.68% | 32.31% | 30.08% | 29.93% | 30.11% | 29.13% | 28.16% | 30.93% | 31.26% | 31.07% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 3M | 0 | 21.36M | 20.04M | 20.59M | 20.39M | 19.26M | 18.54M | 18.89M | 18.88M | 17.09M | 18.58M | 20.18M | 21.97M | 23.95M | 24.96M | 20.54M | 18.43M | 16.26M | 12.58M | 0 | 0 | 0 | 0 |
| Operating Income | -189K | -7.01M | -39.49M | -19.45M | 11.22M | 79.52M | 31.93M | 19.02M | 25.13M | 22.77M | 18.94M | 24.22M | 11.12M | -377K | -4.79M | -17.99M | 31.44M | 29.37M | 23.07M | 18.68M | 30.31M | 21.2M | 12.54M | 10.21M |
| Operating Margin % | -0.02% | -0.85% | -5.24% | -2.6% | 1.41% | 8.02% | 4.08% | 2.43% | 3.27% | 3.01% | 2.72% | 3.54% | 1.66% | -0.06% | -0.73% | -2.81% | 5.05% | 5.32% | 4.72% | 4.27% | 7.94% | 7.32% | 6.16% | 6.49% |
| Operating Income Growth % | - | 82.25% | -102.98% | -125.83% | -85.89% | 149.01% | 67.88% | -24.31% | 10.37% | 20.21% | -21.79% | 117.72% | 3050.4% | 92.13% | 73.39% | -157.23% | 7.05% | 27.35% | 23.48% | -38.38% | 42.95% | 69.1% | 22.84% | - |
| EBITDA | 19.03M | 11.47M | -20.67M | -464K | 31.81M | 99.91M | 51.19M | 37.56M | 44.02M | 41.65M | 36.03M | 42.79M | 31.3M | 21.6M | 19.16M | 6.96M | 51.77M | 47.8M | 39.33M | 31.26M | 38.64M | 27.29M | 17.41M | 14.24M |
| EBITDA Margin % | 2.24% | 1.4% | -2.74% | -0.06% | 4% | 10.08% | 6.54% | 4.8% | 5.72% | 5.51% | 5.18% | 6.26% | 4.67% | 3.47% | 2.93% | 1.09% | 8.32% | 8.66% | 8.06% | 7.15% | 10.12% | 9.42% | 8.56% | 9.06% |
| EBITDA Growth % | 47.07% | 155.51% | -4353.88% | -100.48% | -68.16% | 95.17% | 36.31% | -14.67% | 5.68% | 15.6% | -15.81% | 36.72% | 44.93% | 12.71% | 175.14% | -86.55% | 8.29% | 21.56% | 25.79% | -19.09% | 41.58% | 56.74% | 22.27% | - |
| D&A (Non-Cash Add-back) | 19.22M | 18.48M | 18.82M | 18.99M | 20.59M | 20.39M | 19.26M | 18.54M | 18.89M | 18.88M | 17.09M | 18.58M | 20.18M | 21.97M | 23.95M | 24.96M | 20.32M | 18.43M | 16.26M | 12.58M | 8.33M | 6.09M | 4.87M | 4.03M |
| EBIT | 11.44M | -7.01M | -37.02M | -15.58M | 76.34M | 79.55M | 32.17M | 19.97M | 26.48M | 23.65M | 19.51M | 24.56M | 12.91M | -290K | -4.53M | -17.75M | 31.62M | 29.78M | 25.56M | 18.68M | 32.33M | 21.2M | 12.54M | 10.21M |
| Net Interest Income | 1.83M | 1.65M | 2.15M | 3.57M | 728K | -275K | -538K | 1.42M | 1.2M | 733K | 412K | 97K | -13K | 87K | 48K | 164K | 150K | 312K | 2.19M | 0 | 1.65M | 0 | 0 | 0 |
| Interest Income | 2.18M | 1.99M | 2.47M | 3.87M | 1.03M | 31K | 238K | 1.58M | 1.35M | 883K | 571K | 339K | 187K | 281K | 260K | 243K | 174K | 404K | 2.5M | 0 | 2.01M | 0 | 0 | 0 |
| Interest Expense | 352K | 342K | 319K | 306K | 306K | 306K | 776K | 158K | 154K | 150K | 159K | 242K | 200K | 194K | 212K | 79K | 24K | 92K | 307K | 0 | 359.32K | 0 | 0 | 0 |
| Other Income/Expense | 12.76M | 12.51M | 2.15M | 3.57M | 64.82M | -275K | -538K | 1.42M | 1.2M | 733K | 412K | 97K | -13K | 87K | 48K | 164K | 150K | 312K | 2.19M | 1.91M | 1.65M | 546.54K | -732K | -563K |
| Pretax Income | 12.57M | 5.5M | -37.33M | -15.89M | 76.03M | 79.24M | 31.39M | 19.97M | 26.33M | 23.5M | 19.35M | 24.31M | 11.11M | -290K | -4.74M | -17.83M | 31.59M | 29.69M | 25.25M | 20.59M | 31.97M | 21.75M | 11.81M | 9.64M |
| Pretax Margin % | 1.48% | 0.67% | -4.96% | -2.12% | 9.56% | 7.99% | 4.01% | 2.55% | 3.42% | 3.11% | 2.78% | 3.56% | 1.66% | -0.05% | -0.72% | -2.78% | 5.08% | 5.38% | 5.17% | 4.71% | 8.37% | 7.51% | 5.8% | 6.14% |
| Income Tax | 478K | 296K | 5.84M | -3.91M | 17.14M | 17M | 7.42M | 3.46M | 4.95M | 8.93M | 6.02M | 8.79M | 2.14M | -754K | -2.52M | -7.82M | 10.74M | 9.97M | 7.87M | 6.38M | 10.62M | 7.55M | 4.55M | 3.73M |
| Effective Tax Rate % | 3.8% | 5.38% | -15.63% | 24.59% | 22.54% | 21.46% | 23.62% | 17.35% | 18.82% | 37.98% | 31.11% | 36.14% | 19.3% | 260% | 53.07% | 43.84% | 34% | 33.58% | 31.16% | 30.98% | 33.21% | 34.72% | 38.54% | 38.64% |
| Net Income | 12.09M | 5.21M | -43.17M | -11.98M | 58.89M | 62.24M | 23.98M | 16.5M | 21.37M | 14.57M | 13.33M | 15.53M | 8.97M | 464K | -2.23M | -10.01M | 20.85M | 19.72M | 17.38M | 14.21M | 21.35M | 14.2M | 7.26M | 5.92M |
| Net Margin % | 1.42% | 0.64% | -5.73% | -1.6% | 7.41% | 6.28% | 3.06% | 2.11% | 2.78% | 1.93% | 1.92% | 2.27% | 1.34% | 0.07% | -0.34% | -1.56% | 3.35% | 3.57% | 3.56% | 3.25% | 5.59% | 4.9% | 3.57% | 3.76% |
| Net Income Growth % | 134.9% | 112.06% | -260.38% | -120.34% | -5.38% | 159.57% | 45.29% | -22.79% | 46.66% | 9.32% | -14.14% | 73.18% | 1832.33% | 120.85% | 77.78% | -148.02% | 5.76% | 13.43% | 22.29% | -33.43% | 50.36% | 95.67% | 22.63% | - |
| Net Income (Continuing) | 12.09M | 5.21M | -43.17M | -11.98M | 58.89M | 62.24M | 23.98M | 16.5M | 21.37M | 14.57M | 13.33M | 15.53M | 8.97M | 464K | -2.23M | -10.01M | 20.85M | 19.72M | 17.38M | 14.21M | 21.35M | 14.2M | 7.26M | 5.92M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.43 | 0.63 | -5.19 | -1.46 | 7.17 | 6.91 | 2.32 | 1.41 | 1.64 | 1.03 | 0.91 | 1.03 | 0.60 | 0.03 | -0.15 | -0.69 | 1.44 | 1.36 | 1.20 | 1.00 | 1.51 | 1.08 | 0.67 | 0.55 |
| EPS Growth % | 133.33% | 112.14% | -255.48% | -120.36% | 3.76% | 197.84% | 64.54% | -14.02% | 59.22% | 13.19% | -11.65% | 71.67% | 1900% | 120% | 78.26% | -147.92% | 5.88% | 13.33% | 20% | -33.77% | 39.81% | 61.19% | 21.82% | - |
| EPS (Basic) | - | 0.65 | -5.19 | -1.46 | 7.17 | 6.98 | 2.33 | 1.41 | 1.64 | 1.04 | 0.91 | 1.04 | 0.60 | 0.03 | -0.15 | -0.69 | 1.44 | 1.36 | 1.21 | 1.02 | 1.57 | 1.21 | 0.78 | 0.64 |
| Diluted Shares Outstanding | 8.48M | 8.3M | 8.31M | 8.22M | 8.22M | 9.01M | 10.32M | 11.7M | 13.07M | 14.12M | 14.66M | 15.06M | 15.02M | 14.81M | 14.67M | 14.59M | 14.52M | 14.4M | 14.27M | 14.22M | 14.14M | 13.15M | 10.88M | 10.77M |
| Basic Shares Outstanding | 8.13M | 8.06M | 8.31M | 8.22M | 8.22M | 8.91M | 10.28M | 11.67M | 13.03M | 14.06M | 14.66M | 15M | 14.96M | 14.8M | 14.67M | 14.59M | 14.5M | 14.36M | 14.13M | 13.95M | 13.57M | 11.75M | 9.3M | 9.29M |
| Dividend Payout Ratio | - | - | - | - | - | - | 3.47% | 22.81% | 19.68% | 29.04% | 26.35% | 11.57% | - | - | - | - | - | - | - | - | - | - | 18.82% | - |
Operating leverage volatility
According to the provided financial data, Citi Trends achieved a 14.4% revenue increase in 2026Q1, yet this growth remains inconsistent across the ten-quarter period, suggesting that top-line expansion is heavily reliant on seasonal tax refund cycles rather than sustained, organic demand across its brick-and-mortar footprint.
The revenue trajectory appears highly sensitive to the timing of federal transfer payments, which creates significant volatility in quarterly performance. Investors should monitor whether this growth is driven by new store openings or genuine comparable store sales, as the current pattern suggests a reliance on external liquidity injections rather than brand-driven demand.
Based on reported figures, Citi Trends maintains a gross margin hovering near 37%, a level that appears structurally capped by the company's value-oriented business model and its inability to pass inflationary cost increases to a highly price-sensitive customer base during periods of economic contraction.
The gross margin profile indicates that the company lacks the pricing power of larger off-price peers, leaving it vulnerable to fluctuations in inbound freight and commodity costs. This limitation suggests that any meaningful margin expansion would likely require operational efficiencies rather than price adjustments, which could otherwise alienate its core demographic.
As evidenced by the income statement, the company's operating margin has frequently dipped into negative territory, such as the -3.7% recorded in 2025Q3, indicating that SG&A expenses are currently scaling faster than gross profit and preventing the realization of meaningful operating leverage at current revenue levels.
The inability to consistently maintain positive operating income suggests that the fixed-cost burden of the store fleet is currently misaligned with sales volume. This warrants further investigation into whether management can optimize store-level labor and occupancy costs without compromising the customer experience or the company's competitive positioning.
While the company relies on a hyper-local real estate strategy, the persistent operating losses observed in several recent quarters suggest that this geographic moat may be insufficient to protect against the encroachment of digital-first, ultra-fast-fashion competitors that operate without the burden of extensive physical overhead.
Short-term revenue gains may mask a long-term erosion of the business model's viability if the company cannot convert foot traffic into consistent profitability. Investors should consider whether the current store-based model is becoming a liability in an environment where price-sensitive consumers are increasingly shifting toward more efficient, digital-native value retailers.
Quick answers to the most common questions about buying CTRN stock.
For fiscal year 2025, Citi Trends, Inc. (CTRN) reported total revenue of $820.0M. This represents a 421.6% increase compared to $157.2M in 2003.
Citi Trends, Inc. (CTRN) is profitable, generating $5.2M in net income for the fiscal year ending 2025 with a net profit margin of 0.6%.
Citi Trends, Inc. (CTRN) reported an operating income of $-7.0M, resulting in an operating profit margin of -0.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Citi Trends, Inc. (CTRN) generated $306.2M in gross profit for the year, representing a gross profit margin of 37.3%. This demonstrates the company's core pricing power and production efficiency.