Citi Trends, Inc. is an American retail clothing chain selling discounted products targeted primarily at African-American customers.
 | |
 Citi Trends corporate logo | |
| Company type | Public |
|---|---|
| Nasdaq: CTRN Russell 2000 Component | |
| Industry | Retail |
| Founded | 1958 |
| Headquarters | , United States |
Number of locations | 616 (June, 2022)[1] |
Area served | U.S. |
| Products | Clothing |
| Website | cititrends |
The company opened its first store in Savannah, Georgia in 1958 under the name Allied Department Stores. The company began renaming its stores Citi Trends in 2000, and officially became Citi Trends a year later.[2][3]
Citi Trends comprises more than 600+ stores in 33 states.[2] The chain is known for targeting urban, lower-income customers.[4] In May, 2005, Citi Trends had become a publicly traded company on the Nasdaq exchange with the symbol CTRN. The headquarters of Citi Trends is located in Savannah, Georgia. There is also a distribution center in Darlington, South Carolina along with one in Roland, Oklahoma.[5] On February 28, 2005, Citi Trends Inc. went public in an initial public offering of stock worth up to $57.5 million.[6]
In March 2017, Chief Executive Jason Mazzola resigned after two years in the position and five years at the company. Chief Financial Officer and Chief Operating Officer Bruce Smith will step in as acting CEO until a permanent replacement can be found.[7]
A Citi Trends store was among the property locations destroyed by arson during the George Floyd protests in Minneapolis–Saint Paul in May 2020.[8]
References
edit- ^ "About Us".
- ^ a b "History". Citi Trends. Retrieved 29 January 2011.
- ^ "Analysis of Citi Trends". M2 Presswire. 8 February 2007. Retrieved 29 January 2011.
- ^ Lee, Louise (30 October 2006). "The Secrets to Inner-City Success". Bloomberg Business Week. Archived from the original on 2007-03-27. Retrieved 2019-10-06.
- ^ "Citi Trends". Citi Trends. Archived from the original on 19 October 2012. Retrieved 12 January 2013.
- ^ "Urban-clothing company Citi Trends plans $57.5 million IPO". sddt.com. February 28, 2005.
- ^ Kilgore, Tomi. "Citi Trends CEO resigns to pursue another opportunity". MarketWatch. Retrieved 2017-03-23.
- ^ Penrod, Josh; Sinner, C.J. (2020-07-13). "Buildings damaged in Minneapolis, St. Paul after riots". Star Tribune. Retrieved 2022-05-05.
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