Citi Trends Announces Departure of Chief Merchandising Officer
Ed Anderson Temporarily Resuming Executive Chairman Role
SAVANNAH, Ga.--(BUSINESS WIRE)--
Citi Trends, Inc. (NASDAQ: CTRN) today announced the resignation of
Elizabeth R. Feher, the Company's Executive Vice President and Chief
David Alexander, the Company's President and Chief Executive Officer,
stated, "We want to express our gratitude for Beth's valuable
contributions to our Company and the merchandising team over the last
3.5 years and wish her all the best in her future endeavors."
The Company also announced that Ed Anderson, the Company's Board
Chairman, will temporarily resume his previous role as Executive
Chairman and, in that capacity, oversee merchandising and marketing
while the Company undertakes a search for a new Chief Merchandising
Officer. "We appreciate Ed's willingness to step in and assist the
Company. We are confident that the Company will be able to focus fully
on its search for a new chief merchant knowing those operations are in
experienced, capable hands," Mr. Alexander said.
About Citi Trends
Citi Trends, Inc. is a value-priced retailer of urban fashion apparel
and accessories for the entire family. The Company operates 504 stores
located in 28 states. Citi Trends' website address is www.cititrends.com.
All statements other than historical facts contained in this news
release, including statements regarding our future financial results and
position, business policy and plans and objectives of management for
future operations, are forward-looking statements that are subject to
material risks and uncertainties. The words "believe," "may,"
"could," "plans," "estimate," "continue," "anticipate," "intend,"
"expect" and similar expressions, as they relate to Citi Trends, are
intended to identify forward-looking statements. Investors are
cautioned that any such forward-looking statements are not guarantees of
future performance or results and are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified. Actual
results or developments may differ materially from those included in the
forward-looking statements, as a result of various factors which are
discussed in Citi Trends, Inc. filings with the Securities and Exchange
Commission. Forward-looking statements contained herein speak
only as of the date of this press release. Except as required by
applicable law, including the securities laws of the United States and
the rules and regulations of the Securities and Exchange Commission,
Citi Trends does not undertake to publicly update any forward-looking
statements in this news release or with respect to matters described
herein, whether as a result of any new information, future events or
Citi Trends, Inc.
Bruce Smith, 912-443-2075
David Alexander, 912-443-3924
Chief Executive Officer
Source: Citi Trends, Inc.
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