Children's Place Slashes Q4 Outlook
(RTTNews) - While announcing preliminary unaudited results for the fourth quarter on Monday, specialty apparel retailer The Children's Place, Inc. (PLCE) now expects loss for the fourth quarter in a range of $4.24 to $4.63 per share and adjusted loss in a range of $4.02 to $4.41 per share, down from the prior guidance range of adjusted earnings in the range of $0.50 to $0.75 per share.
On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.55 per share for the quarter. Analysts' estimates typically exclude special items.
The company said this net loss was primarily due to a deterioration in gross margin for reasons not expected when we provided prior guidance, particularly a macro-economic environment in the fourth quarter that proved to be far more challenging for its core customers than it originally anticipated.
Net sales for the quarter are now expected to be between approximately $454 million to $456 million, down from prior guidance of $460 million at the low end. Analysts expect the company to report sales of $467.82 million for the quarter.
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Children's Place Q3 Adj. EPS Misses Estimates; Slashes FY23 Outlook; Stock Down 18%
Specialty apparel retailer The Children's Place, Inc. (PLCE) reported Thursday that net income for the third quarter decreased to $38.48 million or $3.05 per share from $42.86 million or $3.26 per share in the prior-year quarter.
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Abercrombie & Fitch, Kohl's Q1 Results Top Estimates, While Children's Place Missed
U.S. retailers Abercrombie & Fitch Co. (ANF) and Kohl's Corp. (KSS) reported on Wednesday results for the first quarter that topped analysts' estimates, with Abercrombie & Fitch raising its outlook for the full-year 2023 and Kohl's affirming its guidance for fiscal 2023.
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Children's Place Slashes FY23 Outlook As Q1 Results Miss Estimates; Stock Down 16%
Specialty apparel retailer The Children's Place, Inc. (PLCE) reported Wednesday a net loss for the first quarter of $28.83 million or $2.33 per share, compared to net income of $19.83 million or $1.43 per share in the prior-year quarter.
Excluding items, adjusted net loss was $2.00 per share, compared to $1.05 per share last year.
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Dollar General Q4 Profit Rises, While Children's Place Slips To Loss
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Macy's, Kohl's Q3 Results Top Estimates, While Children's Place Adj. EPS Missed
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Children's Place Trims FY22 Adj. EPS, Net Sales Outlook As Q3 Adj. EPS Misses Estimates
Specialty apparel retailer The Children's Place, Inc. (PLCE) reported Thursday that net income for the third quarter nearly halved to $42.86 million or $3.26 per share from $78.87 million or $5.30 per share in the prior-year quarter.
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Malaysia Bourse Likely To Remain Rangebound On Tuesday
The Malaysia stock market turned lower again on Monday, one session after snapping the two-day losing streak in which it had dropped almost 30 points or 1.9 percent. The Kuala Lumpur Composite Index now rests just above the 1,585-point plateau although it figures to bounce higher again on Tuesday.
The global forecast for the Asian markets is murky, with support from the oil companies likely offset by weakness from the technology shares. The European markets were down and the U.S. bourses were mostly higher and the Asian markets figure to split the difference.
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Japan Stock Market May Spin Its Wheels On Tuesday
Ahead of Monday's holiday for Coming Of Age Day, the Japanese stock market has finished lower in three straight sessions, stumbling almost 900 points or 2.4 percent along the way. The Nikkei 225 now rests just beneath the 39,200-point plateau and it may see another soft start on Tuesday as it catches up on missed weak sentiment.
The global forecast for the Asian markets is murky, with support from the oil companies likely offset by weakness from the technology shares. The European markets were down and the U.S. bourses were mostly higher and the Asian markets figure to split the difference.
The Nikkei finished sharply lower on Friday following losses from the financial shares, technology stocks and automobile producers.
For the day, the index stumbled 414.70 points or 1.05 percent to finish at 39,190.40 after trading between 39,166.05 and 39,591.46.
Among the actives, Nissan Motor added 0.67 percent, while Mazda Motor slumped 1.57 percent, Toyota Motor plunged 2.43 percent, Honda Motor tumbled 1.61 percent, Softbank Group lost 0.84 percent, Mitsubishi UFJ Financial sank 0.73 percent, Mizuho Financial retreated 1.94 percent, Sumitomo Mitsui Financial stumbled 2.24 percent, Mitsubishi Electric shed 0.64 percent, Sony Group fell 0.31 percent, Panasonic Holdings dropped 0.95 percent and Hitachi surrendered 2,53 percent.
The lead from Wall Street is mixed to higher as the major averages opened on opposite sides of the unchanged line on Monday and finished in the same manner.
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