Children's Place Q3 Adj. EPS Misses Estimates; Slashes FY23 Outlook; Stock Down 18%

RTTNews | 367 days ago
Stocktwits
Children's Place Q3 Adj. EPS Misses Estimates; Slashes FY23 Outlook; Stock Down 18%

(RTTNews) - 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.

Excluding items, adjusted net loss was $3.22 per share, compared to $3.33 per share last year.

On average, four analysts polled by Thomson Reuters expected the company to report earnings of $3.56 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter declined 5.7 percent to $480.23 million from $509.12 million in the same quarter last year. Analysts expected revenues of $467.66 million for the quarter. Comparable retail sales decreased 7.3 percent for the quarter.

Looking ahead to the fourth quarter, the company expects adjusted loss in a range of $0.25 to $0.45 per share on net sales between $460 million and $465 million. Analysts expect earnings of $1.35 per share on revenues of $437.92 million for the quarter.

For fiscal 2023, the company now projects adjusted net loss in a range of $0.59 to $0.39 per share on net sales between $1.605 billion and $1.610 billion.

Previously, the company expected adjusted earnings in the range of $1.00 to $1.25 per share on net sales between $1.575 billion and $1.585 billion.

The Street is looking for earnings of $0.90 per share on revenues of $1.61 billion for the year.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: PLCE
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Children's Place Slashes FY23 Outlook As Q1 Results Miss Estimates; Stock Down 16%

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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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Retailers Dollar General Corp. (DG) and The Children's Place, Inc. (PLCE) reported on Thursday that financial results for the fourth quarter, with Dollar General profit and revenues growing from last year and Children's Place slipping to a loss with net sales also declining from last year.
RTTNews | 612 days ago
Children's Place Slashes Q4 Outlook

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Omni-channel fashion retailer Macy's, department store chain Kohl's and specialty apparel retailer The Children's Place reported on Thursday that net profit for the third quarter approximately halved from last year, primarily on lower margins and higher expenses, apart from a single-digit percentage drop in net sales.
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