ANN ARBOR, MI (June 23, 2021) - Citi Trends, Inc. (NASDAQ: CTRN),a growing specialty value retailer of apparel, accessories and home trends for way less spend primarily for African American and Latinx families in the United States, has engaged Intalytics to develop a suite of real estate analytics solutions focused on expanding their retail footprint throughout the U.S. Using a combination of cutting-edge datasets and geostatistical modeling techniques, Intalytics will analyze existing store performance as the foundation for quantifying new store deployment opportunities nationally.
“As we continue our transformation in 2021 and beyond, Citi Trends is focusing on new store growth with an understanding that there are real estate deals to be made in the current environment,” said Kyle Koenig, Vice President of Real Estate and Construction for Citi Trends. “We chose to partner with Intalytics based on their track record for helping leading retail brands with strategic growth. We look forward to utilizing their insights to inform infill opportunities in existing markets while also supporting our expansion into new markets.”
A forecasting model developed by Intalytics will incorporate existing Citi Trends stores and associated sales performance, as well as third-party datasets that include household-level data, demographics, and vehicular traffic volumes. This process will consist of a series of analytical elements, including development of customized trade areas for existing and prospective Citi Trends stores and evaluation of competitive impacts from other retail operators. Intalytics will leverage its SiteIntel platform, a proprietary cloud-based solution, that will enable Citi Trends users to dynamically forecast proposed store locations.
“We are excited to announce our new partnership with Citi Trends,” said Matt Montgomery, Managing Director at Intalytics. “The Citi Trends leadership team is focused on strategic growth and understands the value in using analytics to identify a blueprint for success. Our team looks forward to developing a long-term partnership that will provide Citi Trends with analytical insights to inform decision-making moving forward.”
About Citi Trends
Citi Trends, Inc. is a growing specialty value retailer of apparel, accessories and home trends for way less spend primarily for African American and Latinx families in the United States. The Company operates 585 stores located in 33 states.
Intalytics provides world-class predictive analytics tools, technologies, and consulting to restaurants, retailers, financial institutions, healthcare providers, service organizations, and private equity firms seeking location-centric insights. Founded in 2007 by leading practitioners in the field of predictive analytics, Intalytics leverages cutting-edge modeling techniques, third-party datasets, and web-based analytical tools to deliver innovative, accurate, and actionable real estate and marketing solutions.