UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 16, 2006

Citi Trends, Inc.

(Exact name of registrant as specified in its charter)

Delaware

 

000-51315

 

52-2150697

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer Identification No.)

 

102 Fahm Street, Savannah, Georgia                 31401   

 (Address of principal executive offices)              (Zip Code)

Registrant’s telephone number, including area code: (912) 236-1561

Former name or former address, if changed since last report: Not applicable

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2 below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre- commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 




Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 16, 2006, Lawrence E. “Larry” Hyatt was elected by the Board of Directors of Citi Trends, Inc. (the “Company”) to serve as a Class III director with a term expiring in 2008.  Mr. Hyatt’s appointment fills a vacancy on the Board, bringing the total number of directors to five and the independent directors to four.  Mr. Hyatt will serve on the audit, compensation and nominating and corporate governance committees of the Board.  Mr. Hyatt will receive the same compensation as the other non-management directors receive, as described in the Company’s definitive proxy statement filed with the Securities and Exchange Commission on April 24, 2006.

On November 16, 2006, the Company issued a press release announcing Mr. Hyatt’s election to the Board, which press release is attached to this report as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.

 

Description

 

 

 

99.1

 

Press Release dated November 16, 2006

 

2




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

CITI TRENDS, INC.

 

 

 

 

 

Date: November 16, 2006

 

 

 

By:

/s/ R. Edward Anderson

 

 

 

 

 

Name:  R. Edward Anderson

 

 

Title:    Chief Executive Officer

 

3




Exhibit Index

Exhibit No.

 

Description

 

 

 

99.1

 

Press Release dated November 16, 2006

 



Exhibit 99.1

CITI TRENDS ADDS LARRY HYATT TO BOARD OF DIRECTORS

SAVANNAH, GA (November 16, 2006) — Citi Trends, Inc. (NASDAQ: CTRN) today announced that Lawrence E. “Larry” Hyatt has joined the Company’s Board of Directors, effective immediately.  Mr. Hyatt’s appointment fills a vacancy on the Board, bringing the total number of directors to five and the independent directors to four.  In addition, Mr. Hyatt was appointed to the Audit, Compensation and Nominating and Corporate Governance Committees of the Board of Directors.

Mr. Hyatt is Chief Financial Officer, Secretary and Treasurer of O’Charley’s Inc., a multi-concept restaurant company that operates or franchises restaurants under three brands: O’Charley’s, Ninety Nine Restaurant and Stoney River Legendary Steaks. Prior to that time, Mr. Hyatt had served as CFO of three other publicly-held companies: Cole National Corporation, PSINet Inc. and Sodexho Marriott Services, Inc.  He also served as CFO of HMS Host Corporation, a subsidiary of Autogrill S.p.A.  During a 17-year career at Marriott International, he served as CFO of its Management Services business and led its financial planning and analysis team.

Ed Anderson, Chairman and Chief Executive Officer of Citi Trends, noted, “Larry has established a reputation among the investment community as a strategic thinker as well as a talented CFO. His financial expertise and experience with rapidly growing retail and consumer-oriented businesses make Larry a valuable addition to the Board. We look forward to his strategic counsel as we continue to execute our growth strategy.”

Citi Trends, Inc. is a value-priced retailer of urban fashion apparel and accessories for the entire family.  The Company currently operates 270 stores located in 16 states in the South, Southeast, Midwest and Mid-Atlantic regions, and our website address is www.cititrends.com.

Contact:

Ed Anderson

 

Citi Trends, Inc.

 

Chief Executive Officer

 

(912) 443-3705

 

-END-

 

102 Fahm St. Savannah, Ga 31401 · (912) 236-1561 · Fax (912) 443-3674