Citi Trends, Inc. (CTRN): history, ownership, mission, how it works & makes money (2024)

A Brief History of Citi Trends, Inc. (CTRN)

Citi Trends, Inc. is a retail company that was founded in 1946 in Savannah, Georgia. Originally named Allied Department Stores, the company initially focused on selling home goods and electronics.

In 2005, the company rebranded itself as Citi Trends and shifted its focus to urban fashion and accessories, targeting a younger demographic. This change in direction proved to be successful, and Citi Trends began to expand rapidly across the United States.

• 2007: Citi Trends went public, trading on the NASDAQ under the ticker symbol CTRN.
• 2010: The company opened its 500th store, solidifying its position as a major retailer in the urban fashion market.
• 2020: Despite the challenges posed by the COVID-19 pandemic, Citi Trends continued to thrive and expand its reach to new communities.

Who Owns Citi Trends, Inc. (CTRN)

Citi Trends, Inc. (CTRN) is a retail company that specializes in apparel, accessories, and home furnishings, primarily targeting urban and rural communities in the United States. The company was founded in 1958 and is headquartered in Savannah, Georgia. As of 2021, Citi Trends is a publicly traded company listed on the NASDAQ under the ticker symbol CTRN.

The ownership structure of Citi Trends, Inc. is as follows:

• Institutional Investors: Institutional investors own a significant portion of Citi Trends, Inc. These include large financial institutions such as mutual funds, pension funds, and hedge funds. These investors typically hold shares in the company for investment purposes and can influence the company's direction through voting rights.
• Insiders: Insiders refer to individuals within the company who hold shares of Citi Trends, Inc. This includes executives, directors, and employees who may have acquired shares through stock options or other compensation plans. Insiders have a vested interest in the company's performance and may make decisions that impact the stock price.
• Retail Investors: Retail investors are individual investors who buy and sell shares of Citi Trends, Inc. through brokerage accounts. These investors include everyday people who may be looking to invest in the company for long-term growth or short-term gains. Retail investors can have a collective impact on the stock price through buying and selling activity.

Citi Trends, Inc. (CTRN) Mission Statement

At Citi Trends, our mission is to be the go-to value retailer of urban fashion and home trends for the entire family. We strive to provide our customers with high-quality, affordable merchandise in a convenient and engaging shopping environment.

Citi Trends is committed to offering the latest styles and trends at unbeatable prices, ensuring that our customers can look and feel their best without breaking the bank. We aim to inspire our customers to express themselves through their fashion choices, and to make it easy for them to stay on top of the latest trends.

• Value: We are dedicated to offering our customers the best value for their money, ensuring that they can find high-quality merchandise at affordable prices.
• Convenience: We strive to make the shopping experience as convenient as possible for our customers, with well-organized stores and helpful staff members.
• Fashion-forward: We are committed to staying on top of the latest fashion trends and offering our customers the most up-to-date styles.
• Diversity and inclusivity: We believe that fashion is for everyone, and we are dedicated to offering a wide range of styles and sizes to cater to all of our customers.

How Citi Trends, Inc. (CTRN) Works

Citi Trends, Inc. (CTRN) is a retail company that operates over 500 stores in the United States. The company focuses on providing urban and fashion apparel, accessories, and home décor at discounted prices. Here is how Citi Trends works:

• Merchandising: Citi Trends sources trendy and fashionable merchandise from various suppliers and vendors. The company's merchandising team is responsible for selecting products that appeal to their target demographic.
• Store Operations: Each Citi Trends store is designed to cater to the urban customer. The store layout, displays, and promotions are carefully curated to attract customers and encourage them to make purchases.
• Pricing Strategy: Citi Trends offers its products at discounted prices compared to traditional retailers. The company's pricing strategy allows them to appeal to price-conscious consumers while still offering trendy and fashionable merchandise.
• Marketing and Advertising: Citi Trends markets its products through various channels, including social media, email campaigns, and traditional advertising. The company often partners with influencers and celebrities to promote its brand and products.
• Customer Service: Citi Trends places a strong emphasis on customer service. Store associates are trained to provide excellent service to ensure customers have a positive shopping experience and return for future purchases.

How Citi Trends, Inc. (CTRN) Makes Money

Citi Trends, Inc. (CTRN) is a retail company that generates revenue through the following key sources:

• Retail Sales: The primary way Citi Trends makes money is through the sale of apparel, accessories, and home goods at its retail stores. Customers purchase products directly from Citi Trends either in-store or online, contributing to the company's revenue.
• Same-Store Sales Growth: Citi Trends also focuses on increasing revenue through same-store sales growth. By improving the performance of existing stores, the company can drive more sales and generate higher revenue over time.
• New Store Openings: Another way Citi Trends makes money is by opening new retail stores in strategic locations. By expanding its footprint and reaching new markets, the company can attract more customers and increase its overall sales potential.
• E-Commerce Sales: In addition to its physical retail stores, Citi Trends generates revenue through online sales on its e-commerce platform. Customers can browse and purchase products from the company's website, contributing to its overall revenue stream.
• Private Label Brands: Citi Trends also makes money through the sale of its private label brands. By offering exclusive products under its own brand names, the company can differentiate itself from competitors and capture a larger share of the market.