Citi Trends External and Internal Environmental Analysis
Citi Trends External and Internal Environmental Analysis
Sharie Norman
STR/581
June 11, 2012
Ivonne Bates (Ivy)
Citi Trends External and Internal Environmental Analysis
Citi Trends has been in existence since 1953. They have 511 stores in both urban and rural markets in 29 states as of April 28, 2012. They sell name brand clothing, such as Apple Bottoms, Coogi, Dereon, Akademicks, Mecca, Baby Phat, Rocawear, and Ed Hardy, to name a few. They also carry name brand accessories to accent the clothing. Citi Trends is proud to sell their products for up to 60 % off other stores’ prices (cititrends.com fashion clothing store). This paper will include an external and internal environmental analysis of Citi Trends, including the most important external environmental factor in the remote, industry, and operating environments, the most important internal strengths and weaknesses, an assessment of their resources, and an assessment of their competitive position and possibilities.
Most Important External Factors in the Remote Environment
Factors that Citi Trends cannot control make up the remote environment. The remote environment of Citi Trends includes economic factors, social factors, political factors, and technological factors (Frenz, 2012).
Citi Trends Economic Factors
Citi Trends’ most important economic factors are a fall in customer transactions and below normal total price of customer purchases. The main reason for these factors was a defying economy for their essential customers. The downfall in the economy has had a large impact on many businesses. Customers have not been spending the money they used to spend and some have stopped shopping altogether for name brand clothing settling for heaper brands to stretch their dollar because of a low economy (Form 10-K for Citi Trends Inc., 2012).
Citi Trends Social Factors Changes in fashion trends are a major social factor for Citi Trends. The clothing industry universally and Citi Trends essential customers are
Sharie Norman
STR/581
June 11, 2012
Ivonne Bates (Ivy)
Citi Trends External and Internal Environmental Analysis
Citi Trends has been in existence since 1953. They have 511 stores in both urban and rural markets in 29 states as of April 28, 2012. They sell name brand clothing, such as Apple Bottoms, Coogi, Dereon, Akademicks, Mecca, Baby Phat, Rocawear, and Ed Hardy, to name a few. They also carry name brand accessories to accent the clothing. Citi Trends is proud to sell their products for up to 60 % off other stores’ prices (cititrends.com fashion clothing store). This paper will include an external and internal environmental analysis of Citi Trends, including the most important external environmental factor in the remote, industry, and operating environments, the most important internal strengths and weaknesses, an assessment of their resources, and an assessment of their competitive position and possibilities.
Most Important External Factors in the Remote Environment
Factors that Citi Trends cannot control make up the remote environment. The remote environment of Citi Trends includes economic factors, social factors, political factors, and technological factors (Frenz, 2012).
Citi Trends Economic Factors
Citi Trends’ most important economic factors are a fall in customer transactions and below normal total price of customer purchases. The main reason for these factors was a defying economy for their essential customers. The downfall in the economy has had a large impact on many businesses. Customers have not been spending the money they used to spend and some have stopped shopping altogether for name brand clothing settling for heaper brands to stretch their dollar because of a low economy (Form 10-K for Citi Trends Inc., 2012).
Citi Trends Social Factors Changes in fashion trends are a major social factor for Citi Trends. The clothing industry universally and Citi Trends essential customers are
References: Business Library. (2006). Citi Trends builds success targeting urban fashion. Retrieved from http://findarticles.com/p/artoc;es/mi_mOFNP/is_4_45/ai_n16089231/ Citi Trends, Inc. Form 10-Q. (2011). Retrieved from http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?fetchfilingHTML1?ID=82776844sessionID=ecVPFWRLX2KfaR7 Citi Trends, Inc Fulcrum Inquiry. (2010). Retail clothing stores. Industry Guide. Retrieved from http://www.fulcrum.com/clothing_appraisal.htm Haynes Publishing Group Hoovers. (2012). Citi Trends, Inc. Retrieved from http://hoovers.com/company/citi_trends_inc/ryxfkif-1.html Iverify Macroaxis. (2012). Citi Trends number of employees. Retrieved from http://www.macroaxis.com/invest/ratio.CTRN--number_of_employees Reference for Business Comp[any History Index