Earnings call transcript Q1 2023

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Greetings, and welcome to the Citi Trends First Quarter 2023 Earnings Conference Call.

During the presentation, all participants will be in a listen-only mode. Afterwards, we will conduct a question-and-answer session. [Operator Instructions] As a reminder, this conference is being recorded, Tuesday, May 23, 2023.

I would now like to turn the conference over to Nitza McKee, Senior Associate. ahead. go Please

Nitza McKee

Makuen; good on and On Thank for Officer, you call Plutino. Officer, Thank Trends’ morning, first us David Executive Chief Citi is call. Chief quarter joining Financial today Heather you, our everyone. and XXXX our earnings

was earnings Eastern release at a.m. out sent Our morning this X:XX Time.

website received Relations Investor section www.cititrends.com. not a release, have the of you the available under it's If copy on the company's at

refer within aware report from that XXXX. differ may prepared remarks most the meaning factors during Securities made subsequent Private of statements. We you call that Commission Therefore, and statements and other additional Management discussion cause undue forward-looking to of on be today to in with XX-K contain a actual statements reliance recent materially to this Litigation forward-looking the do statements you Securities in the future should for the These not forward-looking the those make can Act filings performance. the described not of Exchange these should company's Form response detailed You on Reform questions. more guarantee your may statements. results place

turn Executive our over call David Makuen. Officer, David? I to now will the Chief

David Makuen

our our elaborate Good everyone, quarter earnings the Nitza. related operational financial of first Chief to and then open questions. Then Officer, and quarter call financial thanks on call. outlook. our we'll your call detailed us for our a performance. Heather other our Plutino, fiscal results I joining will first on you, for Thank morning, highlights few with items Financial XXXX the and today Citi Trendds will begin

the in results American guidance. challenging cultural our and African we families quarter with a that income remained stated low what first previously macro line multi neighborhoods, backdrop in our were for Against serve

minutes. of more quarter I throughout execution few remained fourth a in the will elaborate bit call our during our and shared resilient. initiatives the quarter a teams I customers Our improved remarkably

quarter fashion entry first our we stocking $XXX offering value on to basics with the more in for points, units As priced approximately of price stores, extreme translated by trends stores unfolded, and under. and which down sale doubled our XX%

great have appealing behind stores customers can head our friend. name of our looks tell like Fresh I merchandising toe to we getting and from better store visual Having welcoming of visited experience that to know we quarter, Additionally, improving during momentum by continuously you experience is a better. the dozens

we a But call, home strong efforts candy, on are lever apparel, last and our During we development as and across pleased for impulsive and with focus thus trend have our far, our mentioned work indicators key providing more footwear, HBA Essentials. accessories, to beauty year. I'm success sharpening some do. efforts snacks, the early

everyday and have our still newness. to bi the seen pressures family their early resulted being our being solid needs customers of what spring on needs. discretionary we they less and to we've utilities more summer keenly are in Thanks all top about rent, visiting Lastly, and they put tee including food their of said our spending life macro habits, and our basket this, selective more. resetting in aware customers as are and prioritizing really wants response Having

Now cadence on a the the of for detail quarter. little

of year retailers, SNAP while was and April other traffic from weaker choppy. trend, compared March the in very elimination February heard From sales were persistent by lower have tax you were a perspective, refund primarily As benefits. much driven last monthly spring season and similar inflation, trends to

strong. and brand to see important continue signal positioning the trends assortments mention conversion our the clear throughout shopper remains we It's quarter, strong resonating that to a are Citi

$XX million of pleased the the liquidity first $XX approximately strong remains inclusive no position cash facility. on we as that to manage report quarter in I of we borrowings financial lending with As quarter million ended am $XXX our our asset-based million,

successful strong products set control. to our to leveraging for laser us up fall advantageous balance we controlling are selling procure and focused seasons, back-to-school can on We what sheet while remaining

let update and number support margin; progress a productivity; moment to on inventory our which and priorities, two, executing comp four leveraging you driving strategic in four, technology balance and our take one, our SG&A controlling number managing me Now, are: three, number enhancements. store maximizing of sheet; expenses number

took up, action first opportunities, during the important our comp really quarter customers targeted buy, demand quarter. and sell driving negative productivity. Despite trend, our some highlights to their out stores First are, our move kids capture came for teams

strong. extremely and business casual for kids sweet was inspired opted brands. older the dresses with for Our active boys Citi Easter and was girls hopping Mini sets short for

but momentum drove wear strong lightweight ladies flees. fashion weather patterns and in outer denim, long expected Wonky

As where looks. beauty home, scooped as health urban curated as value the and woven spots. up casual the well from items were to commodities, bright convenience tees guys results weather and looks Strong gravitated normalized, we trendy ladies our replenishment while scrubs definite basics tops, and for to new offer our in

Our fashion customers the needs spend fun. money household are and work, into carefully their leaning and to definitely choosing sharp their for how price point

our women. of footwear and Queue line is expanded an Just our One assortment the teen business Lastly, gaining with our future target new expanded Missy and assortment traction men promising size a strength and More ex rebuild businesses the show that from For

arsenal Citi order tool to Our broaden customers comp in adds drive with Club sales. our Text another our existing Trends to to reach

the results new stages early we are of program, during pleased XX,XXX than more the members this we initial still captured quarter. with and While

can team inventory dollars products our control second is of inventories last year. categories managed maximizing inventory margin all across or with Our priority total buy Cities what down, and to nearly XX% managing effectively controlling in our we

the year. our ending in-store quarter cities store April ZIP levels we our in year-round we many in-store we inventory inventories and Therefore last intentionally the on last from as targeted with code stocks. during within quarter, discussed side of However, out during low and were departments across too more X% than suffered built or inventory our seasonal

are on cleaning fresh season to to share though, and and positioned philosophy prices. In exciting assured consistently market products recoup delighting we on each total, well feel compelling customers at demands. any with our future capitalize remains value Rest our inventory I anchored

Our SG&GA our The and in third priority about sheet. all decision-making. leveraging our being balance prudent here headline expenses is controlling is

is discipline steadfast consistent management corner look and the expense as business lean disciplined a we efficiencies, Our operating and cost while around identify manner. every in to

liquidity As assortment we macro environment ample the as refine headwinds have evolves. persist, demand to

technology executing Lastly, our is fourth priority enhancements.

front. good have developments numerous on We this

a We are operational core launch ERP new significantly will great of which the towards our platform making summer, this our as reminder improve progress later abilities.

our our and progress in considerable are in stores. We distribution also centers making improvements on

rather our are delivered line guidance. our running be in clear, fast In results hunter quarter committed we to per previously we are brand To in and aren’t we've do summary, satisfied. first down improving aren't everything our our life stated deeply with to But of efforts, trends. operating At results. purpose the to se, as really we we center improve bringing our with power our

non-apparel ready their purpose, proud, and Citi way. ensure and them respect we our bold, apparel it to for customers it call defines all. live Lights We our whatever Remember helps find live behaviors comes be must that the uphold

and customer team buy using feedback. decisions bold Our is analytics making

fresh a stores move difference per getting Our to realizing our products really shipping team can times week. make is by multiple proud they

experience welcoming Our creating sell and team respects that customer is all engaging. a by

tight income XX% brand serves of XX,XXXK to our per mind that Keep entire household the year. within the $XX,XXX are family rare range we customers XXK or of in earning less a with

every immense We Our life are opportunities we which levels. bring job under is day. for them lower each with their and to pressure, know downs financial ups and to really showing customers and they and in traffic is roll up well and help our spending know

Therefore, that We half. challenging prudently year our improvement the the backdrop incorporating a know the modest half by environment we adjusting forecasting for fiscal remains outlook in also the second is first are a macro followed uncertain. continued

Heather. discuss results With that, as our related our call She quarter to turn I'll Heather? as outlook. items first a well to will over detail, few in the

Heather Plutino

Thanks, everyone. morning, David, good and

his is outlined, David the to David stated bulk controllables. consumer, our uncertain our progress opening the customer in all remarks, income priorities against and line controlling while previously low results the make in of while significant sales first pressure, As under remains quarter the guidance, teams environment with our strategic base mentioned our were the continued

well debt allows no sheet balance million and inventory with $XX this us line and strong Our cash, undrawn agility of controlled to environment flexibility. $XX with credit manage million of revolving and

of QX XXXX. QX to were of financial the our first results. Turning $XXX.X versus the XX.X% specifics a sales million, quarter for decrease Total

low the as quarter While assortments end strong remained our resonated guidance, were throughout well. at the conversion of shopper stated results our previously

did about and customers our their pressure are purchases. traffic on as We both basket being selective very experienced discretionary

cyber as for XXXX. contraction margin to due margin aged categories. actions cleared inventory and compared inventories in we focus XX.X% in decreased was shifted position. XX.X% sales our as XX.X% comp higher allowed strategically key expense and higher QX position gross expenses building quarter or The to a was XX.X% adjusted Gross markdowns inventory healthy position us to XXXX. to QX QX our versus These inventory building with enter year-over-year in primarily freight First incident our

million XXXX. Lower expenses, total year a Sg&A totaled for quarter points to of of to of or cyber representing $XX adjusted when deleverage QX XX.X% SG&A expense quarter versus the adjusted sales XXX the approximately X.X% million incident $XX basis for a dollars sales. decline drove in prior rate

expense control additional We while to organization. the the continued disciplined cost driving business with across manage efficiencies

per $X.X income versus of million Net or per adjusted. was in diluted loss million $X.XX compared loss as $X.X operating as the million QX or $X.XX or as million adjusted of $X.XX in as XXXX, Operating QX, $X.XX adjusted adjusted, $XX.X to in or $X.X XXXX. was share quarter earnings share

Now Total we QX decreased sheet. where QX recoup we an dollars in the to rebuild reflecting, compared to inventory market our XXXX key share. XX% work XXXX. at was categories, turning believe inventory quarter to balance end Total in-store inventory up X% opportunity levels have to

inventory We through to investing the demand, earlier. quarter a level with our a comfortable entered and while second with management, inventory walked makeup and all disciplined of continue will to David priorities to aligned appropriately apply meet key approach the us

outlook. our to turning Now

of or XXXX We our year and continue half of year. fiscal with for serve income XX% per $XX,XXX African-American first $XX,XXX Multicultural of range remain low-income per within to challenging that to $XX,XXX to earning Recall we the tight less customers a families. household families expect

economic fiscal muted we of more cadence therefore, XXXX the is prudent our we customers to update be outlook. expect to believe than and it for relief first now thought We our

Our revised follows: guidance as is

in for year. the Total be reflects XXXX expected the the five now are expect remodeled level compared is as EBITDA of and $X XXXX. to We to in fiscal markets. to an in year to the range Full expanded to sales XX stores open be to negative $XX mid-single-digits in range of expected of million low-single-digits two range fiscal to the stores million, that experiencing we’re uncertainty new negative XX

year As be to year a in $XX be result, full to $XX capital expected million is year-end in the balance are million, million expected to now range cash $XX aspects of the the of in to expenditures be range to other underperforming $XXX prior million. XX high XXs XX closure unchanged of guidance gross of All to margin expected remain stores. the with the full and

amidst want they backdrop, To brand. we is previously represent quarter to Trends to first potential do Citi The earning Make represent full our believe with this where of improvement. all a our we pulling possible do drive results first mistakes, nor difficult stated levers we line team not recap, no delivered quarter guidance. the in be results

control focus and by both strategic discipline to can against on from a we expense and continue standpoint. priorities an business capital controlling We with executing the what operating our

confident term. well us long serve the initiatives I'm that near over the on Importantly, strategic the making are we our will progress and

back I'll comments. David call turn to for that, With the David? closing

David Makuen

you, Thank Heather.

know, And wrap responsibility up, two milestones we social connections from very as quarter we neighborhoods our a we to Before during the you corporate take celebrated seriously. perspective.

pleased to the has partnered Citi announce Goodwill Council International Cares are our Cycle with we Citi create to that up, program. First formally

goods adults The Citi keeping Goodwill currently XXX new end for transition their jobs use support plan eight Stores designed in we of reduce is match roll then of the that that programs Cycle interest aligned to a moves and young their such in Cycle usage into is that of in markdown landfills. personalized Goodwill million life out the sales have to of pounds Stores The future. Cycle our markets move to goal continue Goodwill’s out Project Proceeds environmental Citi disabilities program partnership end to Search materials Citi with is from reached the helping to opportunity of to goods in of of needs. Milwaukee, community waste. to are program season more individuals markets in with as and available

who of black program, year that business Black our also awareness work. community Secondly, of third increases their of by Black Makers considering we owned Citi and our impacting History Makers year Citi this inspiring managed businesses awarded ten marks Cares the black Trends, History proud thousands program Council, the after program organizations grants very to the communities applicants are recognizing owners entrepreneurs doing exceptional $X,XXX positively are

played across in owned XX that the businesses make in high Cares now role impacts to success a proud neighborhoods. United am so multiple of black have African-American a Citi We years. States furthering of level last such team the three I our operates at the our

environment. continue as the take Citi call operator, moment the over team navigate their entire the and the we current for resilience turn want to I to Trends Before a I take to to commitment

their their business. desire are truly for grateful customers, to improve to our the We and unwavering dedication

questions. We take are now ready your Kelly? to

Operator

you. Thank

question Our with Capital Craig-Hallum Jeremy from Group. comes Hamblin first

You may question. with proceed your

Jeremy Hamblin

questions. the start and thanks wanted for morning Good around taking quarter-to-date commentary I the trend. the to with

So, here. sounds like it some crosscurrents in

what You put to noted good in that spring their and selective are about But they you summer their noted assortment. early customers being basket. response

down. means, improved what would if and you good to is you've on could if sense from pretty conversions I be But us quarter-to-date, what that QX. maybe a units give per seen your in see assume a for basis So, have to the your you I that comp trends saw wanted continue transaction

around bit versus per your dynamics little a units transaction just, then, overall? color transactions And more on

Heather Plutino

Thanks Heather. it. Appreciate couple question. it’s Hey, A the things. for of Jeremy

mentioned March prepared we when other, in look exited construct his the of and the the was at Feb way David So, April performed QX, right? quarter to we remarks, softer. each similarly

the not would that in it And certainly we of end hoped be. the guide where was right? of was when on what but April prior we did So it pocket expected lower guide, we our

May. continue trend into trend Obviously May. That underway, but still continued is into May that seen we've

You are correct.

some seeing traffic continued customer. remains but green our summer We pressure is and basket under translating And with are shoots, is pressure. received conversion, well and that is being under spring strong and

putting very We see that under. said it she we remarks in economic customer prepared of being basket. is reflection are in about he as and that the our selective what types multiple their pressure amount very, of a they're And that

it very basket. on customer green some of much it story but of into it selectivity shoots, the So is we're a is our seeing what makes

Jeremy Hamblin

because even guys Got where there done than of in points have great inventory lower helpful. a a now? it. about noted of little it that margins That's for it see XXs then, controlling is where year. gross gross Q!, down you you you job And the Maybe Do opportunities margins you to good expecting here, adjusted - did that. been it high might want about feel but basis some be. XXX still You bit have were

And have, freight year, that, to if if But it we headwind you impact be I it’s to been I play out. believe discuss of of all, with kind more to provide wanted you wanted could and conjunction expected on last I see freight bit this know if to expect in expected the at of dynamic a could little get a us that a to have some how year. sense year-over-year color that. you tailwind with

David Makuen

good for do in-stock pleased We'll inventory, remembering David. a definitely bucket be and But you're Thanks. things we Health I'll tougher that at levels TVs questions see the to sellers your our categories store targeted two non-apparel were Hey, hand in Good so Beauty, question. to we could call, times, Jeremy, these that we during freight. the and it with over sellers. quarter essential I within knew certain across are would be it’s our some generally about going fourth meaning, Heather weren't that right ZIP codes think better parter on

inventory by in you we us primarily And categories. so, fueling really QX, driven set when for addressed more about those stores, in X% talk the heard us April up to plus

little So a upcoming of very as QX, was even the it. targeted, then bit a early QX planful late it and satisfy demand, wasn't it we very storewide, to flow QX,

we're good them call decision-making responded. we're increased and about inventory, we sales good of So some when seeing feeling that shoots indicators green

So needed knew think rebuilding. that I validates mid-March do back from we thinking some our that to

I’ll for it freight hand question. Heather the over to

Heather Plutino

you I had a Yeah, too, think in Jeremy. margin question there,

sure which address me we described meant XX% the took freight, call it of freight we Let margin year in decrease did transportation. basis and that the quarter just we manner, points higher We by a markdowns. to to in a into product action One stores in some that David on quarter. those margin the that Adjusted XXX that that's, see the fronts. cost got cases chose both exciting a purposely of XX% on make side in mode timely prior

side, the of take than QX markdowns we markdown had anticipated we in quarter clean, a On clean. go into to originally made the to decision order the higher level

in Certainly, feel showed front we the inventory that plus good in we So of that comments us because of year like the the understand have set margin, feel and those well are up decisions that, balance that feel good key we decisions. us. really the up just the selling David seasons about it for but the made about

very outbound modes me benefit the a a coming costs So let container are down. domestic we our Jeremy, Recall, are inbound seeing we specifically, to on Freight, in control working transportation. both do hard line XXX% directly move expenses our in right? of shout-out not who team freight, to are margin and

within flexibility they with So partners and those new bring existing and to hard to our down working supply business us with were chain. give rates

will margin continue guidance mean hold allowing the them shout - our on will and us the high in year, that to out moderate that throughout to expense XXs. will that freight So, to

Jeremy Hamblin

it. then, on the attack that that something there Got you'd all? of think a impact the clearly has terms been linger this earlier seen to I which lasting you any see year profitability damage that's And go-forward in in if would that impact Cyber Have at reputational on QX. just had wanted basis? any,

David Makuen

Jeremy. is It's XXX% call in not. customers. our damage. had our would one. it impact It stores no was - Thanks that absolutely really focused. No answer you I'll take to if The internally or quick reputational

recovery job from a right conducting that The something up it's so, the well, team forward And set largely in going mirror. put the and a security standpoint. rearview great all we're we've did exercises

we on. So moved we're –

the think way to best it. the I it’s say

Jeremy Hamblin

Got it. Last one for me.

- current that, on cash, balance Your based you project count. share

I think $XX a $XX to it translates to about share.

You liquidity top of on strong. have but additional that, really

In you could buybacks done how not have terms you quarters for of, mentality of capital, a number here. deploy on obviously,

by $X as about it down basis. probably buyback, out in understand, need I your wanted thinking it give remodels still think down the have to you potentially But is guidance uncertain to kind that's doing a there on anything to about million of terms CapEx relates through of prudent. well. as for environment about else. we macro took are terms also road then in but think the But you that of million, noted the our $XX up forward that mindset before stores we just I thinking that about go of this opening

Heather Plutino

one, for the I’ll Yeah, this Thanks question. Yeah. Jeremy. take

about mean, and bold So top-line makes going, too big sense, choppy bring capital is my feel the CapEx right just I decision it in down the it’s our spend. on now good guidance to to year right? opinion the for

of the And the decision number new back stores and the on of to so we are ratchet making remodels. number

team also laid that on right? we're important. repurchase, And share distractions. question the no about amount also preserving this cash David of several that has the fact the is we're the now. So I've at It initiatives The out, said strategic quarters for looking focus signals

now, and not not And so table. business. forgive repeat, the but mode off It's because really in in the we the are just of a cash preservation investing

a the first we allocation. we drive the think we're of top signal of to quarter foremost bit investments to is are be which first really are feeling Capital inventory about that's and talked going looking and more is we stable when in top-line, will and about the the mind, So, to Because right? which start differently that what

I'll an of also person, remind you that there but Directors conversation is I'm Board active one but saying allocation. about capital with as this

to it make for the the a We So right want sure continuous business is we're what's discussion. just doing in long-term.

now. right preserving we're so, And

Jeremy Hamblin

best Thanks and for Seems it. Got questions here. so much the taking prudent. wishes

Heather Plutino

Thanks much, Jeremy. so

David Makuen

Jeremy. Thanks,

Operator

next Telsey Group. comes with Advisory from Our question Telsey Dana

You may proceed with question. your

Dana Telsey

morning everyone. Good

base? how differ at As and difference differ you David, and CTX about any think units all? between under. are you was of by by then remodeled you planning the XXX that the the versus are Is mentioned the Does forward? stores, how XX% there going it that newness those And now stores? category at Does performance pricing

trend mentioned And the next effective Thank time we sharpening through trend levers just development the what move are the lastly, focus, you with the period? development you. as being and

David Makuen

chain. their differentials we history to the separation good so XXX questions. those. the in the ‘XX little do morning seeing and we longer of Good a nearing stores, of are since a but They nice the know, in I’ll them the From Dana. of CTX Thanks in our existing which ‘XX a rest number just is between did mid ‘XX, less we're you for and rest high-single-digits and for standpoint them of chain. of base seeing the a CTX between them still fleet, as and are

So our in with we're up they're show to them top good starting stores all XXX pleased and stuff. regularly that and

performance the we those. of about are still So proud

pricing your does tell question, good on you a by one. I category. differ would Secondly, that’s it

in under apparel like example, $XX. in XX. For probably XX% it’s XX Beauty, XX%, But more almost

this And stuff, voting great right, price of we're dating tell seen started point. a voting good the for way, some pickup and some of on see it entry customers rolled or back from more a really, in vote these we lower test, but frankly customer, customer. when category, I depends the me, typically January the it excuse to the before price we economy. state about kind given it that would you a chain because was nature for mindset some results, our really dabbling and for thoughtful the So seeing thank-you in by point And the we've

be it monitoring to think not really not really we But So, it’s work XX in as mindful while is feed that on well. know when and say our $X bucks too send didn’t stuff, wanted we that to that could are in they we it message any I top-line. and I customer back well we AURs and we do the know their call, it the carefully, mentioned will higher bring tell more just us situation are based above we're we really want working will and help that’s only our seeing

been that’s development. So, a good

Thirdly think which That's our speak. refrain we the trend customer. deliver development call, great we zero you the in are on so year trend important where from last I to moments would that will tell moments when really on, most similar about in itself to

and trends. Memorial from this this has obviously one I'll we to do culminating also And the and job trend with starting back with of year a one. school, team the but what Xth. the last the at would week So fact, hard can timing great in we use Certainly be holiday, missed back-to-school importantly in what the better recognizing next standpoint, before summer a year done both Day this as July

or is to woven likely example, on year new new late to, we right for a some respond or those the and customer top, a this great pockets a deliveries ahead great we're of year, well shorts little of time trend were summer dress. cool that Last

done a it So better job, trends the when in sharpening but exited, themselves, only team not sharpening we bring and we as has how well. also

with you well. checking that, better on in tell as would we're where I scores So, some

Dana Telsey

whether the now, the go when Thank the through the heard quarter the be you we third of about This that Any second mindful as then Heather, pressure fourth year in you year? we of and half year. given is it's and other the you, second puts and it's one to and improvement takes on the obviously quarter consumer. of, about about shaping last think moderate think follow-up. meaningful the

Heather Plutino

the just to throughout conversation Hey year, quarterly see coming Dana. is improvement last moderate sequential year that What improvement And am margin right? had bit, constant the well. just a sorry, quarter remain it’s more of the – will improvement start I So, the for Dana, throughout say, Thanks throughout would will in the constant the the I the a year. throughout question. as that sequential down remain fold idea to top-line holds, we

So consistent with environment, just guidance last was our conversations, given unfortunately, quarter’s prudent to it we the top-line bring felt down.

Dana Telsey

shrink be impacted. an thing, one point there? you hearing price all Is to Is what low Just last over retail. place the with impact your too it we're are about seeing

Heather Plutino

David, I'll take well. that one, as

shrink a to Walls, Four is Citi working are as we Trends something a is hot and within the So that cross-functional manage topic gets in monitoring It attention. well. way. It senior leadership

it you to you events that extreme tell of say tell basis. increased. has to daily I will of the not a saddens I too instances me think number it's scary on

associates but this disappointing unusual worry our and certainly our we one concern customers. Not is still will about safety in security economic and concern, our I the of impacts, environment, say the the but number one and number margin

that So it. are seriously monitoring we and very take

processes place. We some in are new putting

we're to come us it’s a Technical More very closely more total, is will we think but up to and up watching be on to able that efficiently. monitor help very, and a smidge, smidge. it But that term manage more in closely.

Dana Telsey

you. Thank

Heather Plutino

the question. for Thanks

David Makuen

Thanks Dana.

Operator

from final question with Benchmark. Lawrence John comes Our

your You may proceed with question.

John Lawrence

Thanks. Good guys. morning, Great.

… bit you you little So, comment about a – would could David

Heather Plutino

Hey, John.

John Lawrence

situation vendor to you what you go out are at If across inventory categories. the the you try be As there? seeing base, just certain look sharper in

And marketplace? environment? the in having of just you And out idea getting talk and newer of You how to that trying people work? something the does with fresher that other with trouble Just apparel. in Can discipline What are product. that mentioned you find there faster? seeing about

David Makuen

John. Good question. Sure. Hey,

our difficult First the times. them we of partners, they've feel a thin. got stood thick business continue ways they've causing do as feeling all, speak true right? in you're too vendor through well, healthy as to Their terrific And and shout-out it I'll And with base partners. because but to you to really tell to our I them and have so would side give our is They're partners right. terrific offerings we through retail been as by

And then, vendors. new incredible amount of an secondly, we’ve added

would big-time we're constantly trends marketplace can the in playing time And me. for I Excuse the that new right at we're actually in, also the looking And resources talked we've right the So that window. right you, offense. deliver tell cost. about in

and really more we're creative. more vendors in way. working with We're being And so out our

do New plenty the with within and, between, of but for are I even sticking York certain two can business then within apparel. outside we Certainly categories coasts

are on we of fast top it. We're So, it. at

I can on we that opportunity in trends bringing How and so can fashion speak on and on think it. kind of to just of relevant current and the play stay modern remains keep sort hit you it. just

job our that's orders our to quantities. it's the in And and job right those write

So want not out. over we we to write celebrate skis our where are in way it the and selling

of we're all We're over start of advantageous shipping So holiday. terms things weeks about that all in And and We actually ahead marketplace. the products four in over back-to-school. plenty see it. we well in we're of

sales are that important and to I two lines. big extremely moments mentioned to our Like, earlier customer our really

mentioned got I all the peaks accordingly. and So, that of present to vendor team It's read themselves manage I along. right leaves partners will we've think and tea to But to the our think the to and the right how us Heather we're adjust customer join do that. and as so we they them trust acutely as job the aware in come

John Lawrence

‘XX. of - days just that Abd us Thanks. quick benefit about of a obviously, the there? outlook no Obviously, lot to little system provide bit us for Can the And I assume a Great. diminished sort is behind as XXX XX what ERP What productivity? far sort just a system goes little again, there's detail follow-up. a of you remind to going and there? as that your remind to

David Makuen

Yeah, level to on temporary do a the Sure. high delay from track Cyber we a are after Happy that. at incident.

bring and new will to really finance this. summer. a support at operations. inventory. buy our and our deliver kind running house of We end are way finance Those of of really track back the of planning team the on brand are will benefit two what in And And the that it team allocating way, platform different the much teams, then, the new us from the is the

And to this platform spanning you a that benefit entire data HR will it. name the the of and analytics power bring organization speaking third organizationally stores, new then is

really most of the but easy-to-use will excited interface this that goods we well, algorithms home at methodologies store So to it summer. sophisticated the send graduate screen antiquated a a we're team and new us it Marshall system basically new we've end and about cloud are has time. green advantage offer right got importantly, ready at replace the take to right And literally will literally, to to the right that new the against served of it bringing and the timeline that's

that I enough, And I can't, can't from. will little underline that we those benefits – see simple that great

will sure. impact won't absolutely big ‘XX, be benefit are but it, a right. ‘XX on count out And we It little to in then, bit You're for ’XX. as of it we going

John Lawrence

luck. Thanks. Great. Good

David Makuen

Thanks from Good to you. welcome. You're John. hear

Operator

are you at turn call no Mr. further I There your the back to for will time. over this questions closing now Makuen, phone remarks.

David Makuen

Kelly. a Have Thanks joining everybody care. Take upcoming. for Thanks, weekend Memorial Day today. great

Operator

thank you for we for today. conclude We please the that conference does disconnect participation call your ask lines. That your and you

Citi Trends (CTRN) 23 May 232023 Q1 Earnings call transcript