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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Feb. 03, 2024
Jan. 28, 2023
Jan. 29, 2022
Jan. 30, 2021
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table

Value ($) of Initial Fixed $100

SCT ($) for

CAP ($) to

SCT ($) for

CAP ($) to

Average

Average

Investment Based On:

Adjusted

Fiscal

    

Mr. Makuen

Mr. Makuen

    

Mr. Sachse

Mr. Sachse

SCT ($)

CAP ($)

Citi Trends

Peer Group

Net Income

EBITDA ex. B&E

Year

(PEO 1)

(PEO 1)

(PEO 2)

(PEO 2)

for NEOs

to NEOs

TSR

TSR

($M)

($M)

(a)

 

(b)1

(c)2

(d)1

(e)2

(f)3

(g)2

(h)4

(i)4

(j)

(k)5

2023

 

1,751,579

1,191,613

615,206

513,982

116.11

159.02

(12.0)

5.6

2022

 

1,730,016

(331,897)

483,470

122,735

135.73

135.59

58.9

35.6

2021

 

2,979,581

2,882,746

1,140,197

1,200,526

210.06

142.18

62.2

123.7

2020

2,995,723

3,438,376

682,576

1,719,020

693,908

949,579

254.38

140.92

24.0

66.6

(1)

The dollar amounts reported in columns (b) and (d) are the amounts of total compensation reported for Mr. Makuen (Chief Executive Officer and Principal Executive Officer since March 9th, 2020) and Mr. Sachse (Interim Chief Executive Officer until March 9th, 2020) for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to our Summary Compensation Table on page 37.

(2)

The dollar amounts reported in column (c), (e) and (g) represent the amount of “compensation actually paid,” as computed in accordance with SEC rules. “Compensation actually paid” does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules. We do not have a defined benefit plan so no adjustment for pension benefits is included in the table below. Similarly, no adjustment is made for dividends as dividends are factored into the fair value of the award. The following table details these adjustments:

All table values in $

    

    

Grant Date

Year End

Change in

Change in

Change in

Change in Value

Fiscal

Value of

Value of

Value of

Value of

Value of

of Awards Granted

Total Equity

Year

Executives

SCT

New Awards

New Awards

Prior Awards

Vested Awards

Forfeited Awards

and Vested in '23

Award Adjustments

CAP

 

(a)

(b)

(i)

(ii)

(iii)

(iv)

(v)

(c)=(i)+(ii)+(iii)+(iv)+(v)

(d)=(a)-(b)+(c)

2023

 

PEO 1

1,751,579

1,015,008

541,394

(20,721)

(65,631)

455,042

1,191,613

 

Others

615,206

212,373

170,067

(6,613)

(26,523)

(28,034)

2,253

111,149

513,982

(a)The dollar amounts reported in the Summary Compensation Table for the applicable year.

(b)

The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.

(c)The recalculated value of equity awards for each applicable year includes the addition (or subtraction, as applicable) of the following:

(i)

the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year;

(ii)

the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year;

(iii)

for awards that vest in applicable year, the change in the fair value as of the vesting date from the beginning of the applicable year.

(iv)

for awards that failed to meet vesting conditions in the applicable year, the fair value from the end of prior fiscal year.

(v)

for awards that were granted and vest in the applicable year, the fair value as of the vesting date.

The valuation assumptions and processes used to recalculate fair values did not materially differ from those disclosed at the time of grant, except for PSU awards whose year-end and vesting date values are adjusted by the probability of achievement as of each such date.

(d)

“Compensation actually paid” does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules.

(3)

The dollar amounts reported in column (f) are the average amounts of total compensation reported for the other Named Executive Officers for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to our Summary Compensation Table on page 37. For each of 2020, 2021 and 2022 and 2023, the other NEOs were:

2023

    

2022

    

2021

2020

Heather Plutino

 

Heather Plutino

 

Pamela J. Edwards

Pamela J. Edwards

Lisa Powell

Pamela J. Edwards

Lisa A. Powell

Stuart C. Clifford

Vivek Bhargava

 

Lisa A. Powell

 

Ivy D. Council

Jason Moschner

Ivy Council

 

Ivy D. Council

 

James A. Dunn

Lisa A. Powell

Charles Hynes

 

Charles J. Hynes

 

Ivy D. Council

Jason Moschner

Christina K. Short

(4)

TSR is determined based on the value of an initial fixed investment of $100. The TSR peer group consists of the Dow Jones US Specialty Retailers Index.

(5)

For 2023, our Company Selected Measure is Adjusted EBITDA ex. B&E, consistent with our Short- and Long-Term Incentive Programs. In prior years, we used Adjusted EBIT. For more details, refer to our Compensation Discussion and Analysis, beginning on page 29.

Company Selected Measure ($M)

2023

2022

2021

2020

Adjusted EBITDA ex B&E

 

5.6

35.6

123.7

66.6

Adjusted EBIT

-17.5

11.4

91.4

40.9

     
Company Selected Measure Name Adjusted EBITDA ex. B&E      
Named Executive Officers, Footnote

(1)

The dollar amounts reported in columns (b) and (d) are the amounts of total compensation reported for Mr. Makuen (Chief Executive Officer and Principal Executive Officer since March 9th, 2020) and Mr. Sachse (Interim Chief Executive Officer until March 9th, 2020) for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to our Summary Compensation Table on page 37.

(3)

The dollar amounts reported in column (f) are the average amounts of total compensation reported for the other Named Executive Officers for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to our Summary Compensation Table on page 37. For each of 2020, 2021 and 2022 and 2023, the other NEOs were:

2023

    

2022

    

2021

2020

Heather Plutino

 

Heather Plutino

 

Pamela J. Edwards

Pamela J. Edwards

Lisa Powell

Pamela J. Edwards

Lisa A. Powell

Stuart C. Clifford

Vivek Bhargava

 

Lisa A. Powell

 

Ivy D. Council

Jason Moschner

Ivy Council

 

Ivy D. Council

 

James A. Dunn

Lisa A. Powell

Charles Hynes

 

Charles J. Hynes

 

Ivy D. Council

Jason Moschner

Christina K. Short

     
Peer Group Issuers, Footnote

(4)

TSR is determined based on the value of an initial fixed investment of $100. The TSR peer group consists of the Dow Jones US Specialty Retailers Index.

     
Adjustment To PEO Compensation, Footnote

(2)

The dollar amounts reported in column (c), (e) and (g) represent the amount of “compensation actually paid,” as computed in accordance with SEC rules. “Compensation actually paid” does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules. We do not have a defined benefit plan so no adjustment for pension benefits is included in the table below. Similarly, no adjustment is made for dividends as dividends are factored into the fair value of the award. The following table details these adjustments:

All table values in $

    

    

Grant Date

Year End

Change in

Change in

Change in

Change in Value

Fiscal

Value of

Value of

Value of

Value of

Value of

of Awards Granted

Total Equity

Year

Executives

SCT

New Awards

New Awards

Prior Awards

Vested Awards

Forfeited Awards

and Vested in '23

Award Adjustments

CAP

 

(a)

(b)

(i)

(ii)

(iii)

(iv)

(v)

(c)=(i)+(ii)+(iii)+(iv)+(v)

(d)=(a)-(b)+(c)

2023

 

PEO 1

1,751,579

1,015,008

541,394

(20,721)

(65,631)

455,042

1,191,613

 

Others

615,206

212,373

170,067

(6,613)

(26,523)

(28,034)

2,253

111,149

513,982

(a)The dollar amounts reported in the Summary Compensation Table for the applicable year.

(b)

The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.

(c)The recalculated value of equity awards for each applicable year includes the addition (or subtraction, as applicable) of the following:

(i)

the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year;

(ii)

the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year;

(iii)

for awards that vest in applicable year, the change in the fair value as of the vesting date from the beginning of the applicable year.

(iv)

for awards that failed to meet vesting conditions in the applicable year, the fair value from the end of prior fiscal year.

(v)

for awards that were granted and vest in the applicable year, the fair value as of the vesting date.

The valuation assumptions and processes used to recalculate fair values did not materially differ from those disclosed at the time of grant, except for PSU awards whose year-end and vesting date values are adjusted by the probability of achievement as of each such date.

(d)

“Compensation actually paid” does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules.

     
Non-PEO NEO Average Total Compensation Amount $ 615,206 $ 483,470 $ 1,140,197 $ 693,908
Non-PEO NEO Average Compensation Actually Paid Amount $ 513,982 122,735 1,200,526 949,579
Adjustment to Non-PEO NEO Compensation Footnote

(2)

The dollar amounts reported in column (c), (e) and (g) represent the amount of “compensation actually paid,” as computed in accordance with SEC rules. “Compensation actually paid” does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules. We do not have a defined benefit plan so no adjustment for pension benefits is included in the table below. Similarly, no adjustment is made for dividends as dividends are factored into the fair value of the award. The following table details these adjustments:

All table values in $

    

    

Grant Date

Year End

Change in

Change in

Change in

Change in Value

Fiscal

Value of

Value of

Value of

Value of

Value of

of Awards Granted

Total Equity

Year

Executives

SCT

New Awards

New Awards

Prior Awards

Vested Awards

Forfeited Awards

and Vested in '23

Award Adjustments

CAP

 

(a)

(b)

(i)

(ii)

(iii)

(iv)

(v)

(c)=(i)+(ii)+(iii)+(iv)+(v)

(d)=(a)-(b)+(c)

2023

 

PEO 1

1,751,579

1,015,008

541,394

(20,721)

(65,631)

455,042

1,191,613

 

Others

615,206

212,373

170,067

(6,613)

(26,523)

(28,034)

2,253

111,149

513,982

(a)The dollar amounts reported in the Summary Compensation Table for the applicable year.

(b)

The grant date fair value of equity awards represents the total of the amounts reported in the “Stock Awards” column in the Summary Compensation Table for the applicable year.

(c)The recalculated value of equity awards for each applicable year includes the addition (or subtraction, as applicable) of the following:

(i)

the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year;

(ii)

the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year;

(iii)

for awards that vest in applicable year, the change in the fair value as of the vesting date from the beginning of the applicable year.

(iv)

for awards that failed to meet vesting conditions in the applicable year, the fair value from the end of prior fiscal year.

(v)

for awards that were granted and vest in the applicable year, the fair value as of the vesting date.

The valuation assumptions and processes used to recalculate fair values did not materially differ from those disclosed at the time of grant, except for PSU awards whose year-end and vesting date values are adjusted by the probability of achievement as of each such date.

(d)

“Compensation actually paid” does not necessarily represent cash and/or equity value transferred to the applicable NEO without restriction, but rather is a value calculated under applicable SEC rules.

     
Compensation Actually Paid vs. Total Shareholder Return

Graphic

     
Compensation Actually Paid vs. Net Income

Graphic

     
Compensation Actually Paid vs. Company Selected Measure

Graphic

     
Total Shareholder Return Vs Peer Group

Graphic

     
Tabular List, Table

2023 Performance Measures 

As required by SEC rules, the performance measure identified as the most important for NEOs’ 2023 compensation decisions are listed in the table to the right. Adjusted EBITDA ex. B&E is the only metric used in determining compensation.

Most Important Performance Measure

Adjusted EBITDA ex. B&E

     
Total Shareholder Return Amount $ 116.11 135.73 210.06 254.38
Peer Group Total Shareholder Return Amount 159.02 135.59 142.18 140.92
Net Income (Loss) $ (12,000,000.0) $ 58,900,000 $ 62,200,000 $ 24,000,000.0
Company Selected Measure Amount 5,600,000 35,600,000 123,700,000 66,600,000
PEO Name Mr. Makuen      
Prior Year Company Selected Measure Amount (17,500,000) 11,400,000 91,400,000 40,900,000
Measure:: 1        
Pay vs Performance Disclosure        
Name Adjusted EBITDA ex. B&E      
Non-GAAP Measure Description

(5)

For 2023, our Company Selected Measure is Adjusted EBITDA ex. B&E, consistent with our Short- and Long-Term Incentive Programs. In prior years, we used Adjusted EBIT. For more details, refer to our Compensation Discussion and Analysis, beginning on page 29.

     
Mr. Makuen        
Pay vs Performance Disclosure        
PEO Total Compensation Amount $ 1,751,579 $ 1,730,016 $ 2,979,581 $ 2,995,723
PEO Actually Paid Compensation Amount 1,191,613 $ (331,897) $ 2,882,746 3,438,376
Mr. Sachse        
Pay vs Performance Disclosure        
PEO Total Compensation Amount       682,576
PEO Actually Paid Compensation Amount       $ 1,719,020
PEO | Mr. Makuen | Grant Date Value of New Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (1,015,008)      
PEO | Mr. Makuen | Total Equity Award Adjustments        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 455,042      
PEO | Mr. Makuen | Year End Value of New Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 541,394      
PEO | Mr. Makuen | Change in Value of Prior Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (20,721)      
PEO | Mr. Makuen | Change in Value of Vested Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (65,631)      
Non-PEO NEO | Grant Date Value of New Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (212,373)      
Non-PEO NEO | Total Equity Award Adjustments        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 111,149      
Non-PEO NEO | Year End Value of New Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 170,067      
Non-PEO NEO | Change in Value of Prior Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (6,613)      
Non-PEO NEO | Change in Value of Forfeited Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (28,034)      
Non-PEO NEO | Change in Value of Awards Granted and Vested in '23        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 2,253      
Non-PEO NEO | Change in Value of Vested Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (26,523)