Insight 3D Financial Trends

Tue 29 October 2019

Citi Trends

Posted by Bill Johnson in Financial Trends   

article header image

Citi Trends is an American retail clothing chain selling discounted products targeted primarily at urban customers. 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 in 2001.Citi Trends comprises more than 560 stores in 32 states. The chain is known for targeting urban, lower-income customers. Citi Trends has been in the apparel business for over 58 years. 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. On February 28, 2005, Citi Trends Inc. went public in an initial public offering of stock worth up to \$57.5 million.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.