Citi Trends, Inc. (NASDAQ:CTRN) Q1 2023 Earnings Conference Call May 23, 2023 9:00 AM ET

Company Participants

David Makuen - Chief Executive Officer

Heather Plutino - Chief Financial Officer

Nitza McKee - Senior Associate, ICR IR

Conference Call Participants

Jeremy Hamblin - Craig-Hallum Capital Group

Dana Telsey - Telsey Advisory Group

John Lawrence - The Benchmark Company

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. Please go ahead.

Nitza McKee

Thank you, and good morning, everyone. Thank you for joining us on Citi Trends’ first quarter 2023 earnings call. On our call today is our Chief Executive Officer, David Makuen; and Chief Financial Officer, Heather Plutino. Our earnings release was sent out this morning at 6:45 a.m. Eastern Time. If you have not received a copy of the release, it's available on the company's website under the Investor Relations section at www.cititrends.com.

You should be aware that prepared remarks today made during this call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Management may make additional forward-looking statements in response to your questions. These statements do not guarantee future performance. Therefore, you should not place undue reliance on these statements. We refer you to the company's most recent report on Form 10-K and other subsequent filings with the Securities and Exchange Commission for a more detailed discussion of the factors that can cause actual results to differ materially from those described in the forward-looking statements.

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

David Makuen

Thank you, Nitza. Good morning, everyone, and thanks for joining us today on the Citi Trendds first quarter fiscal 2023 earnings call. I will begin our call with highlights of our first quarter financial and operational performance. Heather Plutino, our Chief Financial Officer, will then elaborate on our detailed financial results and a few other items related to our outlook. Then we'll open the call for your questions.

Against what remained a challenging macro backdrop for the low income families that we serve in African American and multi cultural neighborhoods, our first quarter results were in line with our previously stated guidance. Our teams execution of the initiatives I shared during our fourth quarter call improved throughout the quarter and our customers remained remarkably resilient. I will elaborate a bit more in a few minutes.