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): December 11, 2007
Citi Trends, Inc.
(Exact name of registrant as specified in its charter)
Delaware |
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000-51315 |
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52-2150697 |
(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
102 Fahm Street, Savannah, Georgia |
31401 |
(Address of principal executive offices) |
(Zip Code) |
Registrants 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 December 11, 2007, George Bellino informed the Company of his decision to retire as President and Chief Merchandising Officer of Citi Trends, Inc. (the Company), to be effective in the spring/summer of 2008. The Company has initiated a search for his replacement. Mr. Bellino will assist in the transition of his duties.
On December 12, 2007, the Company issued a press release announcing these events. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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Description |
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99.1 |
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Press Release dated December 12, 2007 |
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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.
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CITI TRENDS, INC. |
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Date: December 12, 2007 |
By: |
/s/ Bruce D. Smith |
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Name: |
Bruce D. Smith |
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Title: |
Chief Financial Officer |
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Exhibit Index
Exhibit No. |
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Description |
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99.1 |
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Press Release dated December 12, 2007. |
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Exhibit 99.1
CITI TRENDS, INC. ANNOUNCES GEORGE BELLINO TO RETIRE IN 2008
SAVANNAH, GA (December 12, 2007) Citi Trends, Inc. (NASDAQ: CTRN) today announced that George A. Bellino, the Companys President and Chief Merchandising Officer, has informed the Company of his decision to retire in the spring/summer of 2008. The Company will commence a search for a new Chief Merchandising Officer immediately. Mr. Bellino will stay on with the Company in his present roles to effect the transition.
Mr. Bellino has served as President and Chief Merchandising Officer since December 2001 and previously as a director from April 1999 to May 2005. Mr. Bellino was also the Companys Chief Executive Officer and President from April 1999 to December 2001. From January 1997 to March 1999, Mr. Bellino served as President of the Companys predecessor, Allied Department Stores.
Ed Anderson, Chairman and Chief Executive Officer of Citi Trends, commented, George has been an integral part of our leadership team and a primary contributor to our success. He will be missed as a friend and colleague when he retires next year, but one of Georges greatest accomplishments has been his creation of an experienced merchandising team. As a result, we have some of the most talented merchants in the industry. During the next several months, George will continue to work closely with this team to complete the transition.
Mr. Bellino added, It has been my distinct pleasure to help lead Citi Trends during a time of rapid growth and success. Our deep merchandising team is well-positioned to continue executing our vision and strategy for Citi Trends and offering the best selection to our customers. While I look forward to the next chapter in my life, I will remain fully engaged during the important holiday and spring selling seasons to ensure the transition goes smoothly.
About Citi Trends
Citi Trends, Inc. is a value-priced retailer of urban fashion apparel and accessories for the entire family. The Company currently operates 319 stores located in 20 states in the Southeast, Mid-Atlantic and Midwest regions and the state of Texas. Citi Trends website address is www.cititrends.com. CTRN-E
Forward-Looking Statements
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. Statements with respect to earnings guidance are forward-looking statements. Investors are cautioned that any such forward-looking statements are subject to the finalization of the Companys quarterly financial and accounting procedures, 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. 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 and the ability to anticipate and respond to fashion trends. 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.
Contact: |
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Bruce Smith |
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Ed Anderson |
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Chief Financial Officer |
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Chairman and Chief Executive Officer |
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(912) 443-2075 |
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(912) 443-3705 |