SAVANNAH, Ga.--(BUSINESS WIRE)--
Citi Trends, Inc. ("Citi Trends" or the "Company") (NASDAQ:CTRN) today
announced that, according to preliminary voting tabulations,
stockholders have re-elected Barbara Levy and R. Edward Anderson to the
Board of Directors, and also elected Jonathan Duskin to the Company's
Board of Directors. Additionally, stockholders voted in favor of all
other proposals submitted for a vote at the Annual Meeting. The vote is
subject to certification by IVS Associates Inc., the independent
inspectors of election.
Citi Trends' Board of Directors issued the following statement:
"We thank all of our stockholders for their participation throughout
this process. We look forward to working collaboratively with our new
and existing directors to maximize shareholder value for all
"We are exceptionally grateful for Larry Hyatt's 11 years of service on
the Board. He has played a significant role in Citi Trends' success,
including its renewed strength following the strategic pivot, in his
roles as a Director, Chairman of the Audit Committee and as a member of
the Compensation and the Nominating and Corporate Governance Committees.
We thank him on behalf of all our stockholders for his service to the
Company over the years."
Citi Trends will file final voting results with the Securities &
Exchange Commission on a Form 8-K once they are certified by the
independent inspector of elections, which will be available at the SEC's
web site or the Investor Relations section of Citi Trends' corporate
About Citi Trends
Citi Trends, Inc. is a value-priced retailer of urban fashion apparel
and accessories for the entire family. The Company operates 538 stores
located in 31 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, objectives of management for future
operations and our intentions and ability to pay dividends and complete
any share repurchases, 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 filings with the Securities and Exchange
Commission. These risks and uncertainties include, but are not limited
to, uncertainties relating to economic conditions, growth risks,
consumer spending patterns, competition within the industry, competition
in our markets, the ability to anticipate and respond to fashion trends
and the outcome of our current proxy fight and any other actions of
activist stockholders. Any forward-looking statements by the Company with
respect to the Company's intention to declare and pay dividends,
repurchase shares pursuant to the share repurchase program, or
otherwise, are intended to speak only as of the date such statements are
made. 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 otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170524005787/en/
Bruce Goldfarb, Chuck Garske and Teresa Huang
Source: Citi Trends, Inc.
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