The Children’s Place: Fiscal 2Q Earnings Snapshot
SECAUCUS, N.J. (AP) _ The Children’s Place Retail Stores Inc. (PLCE) on Thursday reported fiscal second-quarter profit of $7.5 million.
The Secaucus, New Jersey-based company said it had net income of 45 cents per share. Earnings, adjusted for one-time gains and costs, were 70 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The children’s clothing and accessories chain posted revenue of $448.7 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $428.1 million.
For the current quarter ending in November, The Children’s Place expects its per-share earnings to range from $2.97 to $3.07. Analysts surveyed by Zacks had forecast adjusted earnings per share of $2.98.
The company expects full-year earnings in the range of $8.09 to $8.29 per share, with revenue ranging from $1.95 billion to $1.96 billion.
The Children’s Place shares have declined slightly more than 5 percent since the beginning of the year. The stock has risen 36 percent in the last 12 months.