Citi Trends sees FY25 SSS up high-single digits

The company is updating its fiscal 2025 outlook as follows: Expecting full year comparable store sales to be up high-single digits, on the high end of previous outlook. Full year gross margin is expected to expand approximately 230 basis points vs. 2024, on the high end of previous outlook. SG&A is expected to leverage approximately 90 basis points vs. 2024, on the high end of previous outlook. Full year EBITDA is now expected to be in the range of $10M-$12M, above previous outlook, a $24M-$26M improvement vs. 2024. Expecting 2025 effective tax rate of approximately 0%, consistent with previous outlook. For the year, the company will open 3 new stores and remodel 62 stores, consistent with previous outlook. The company will close 4 locations, above the previous outlook of 3 closures. Full year capital expenditures are now expected to be approximately $23M, on the lower end of previous outlook