Children's Place Trims FY22 Adj. EPS, Net Sales Outlook As Q3 Adj. EPS Misses Estimates

RTTNews | Pred 770 dňami
Stocktwits
Children's Place Trims FY22 Adj. EPS, Net Sales Outlook As Q3 Adj. EPS Misses Estimates

(RTTNews) - 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.

Excluding items, adjusted net income was $3.33 per share, compared to $5.43 per share last year.

On average, four analysts polled by Thomson Reuters expected the company to report earnings of $3.73 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter declined 8.8 percent to $509.12 million from $558.23 million in the same quarter last year. Analysts expected revenue of $499.44 million for the quarter. Comparable retail sales decreased 10 percent for the quarter.

Looking ahead to the fourth quarter, the company expects adjusted earnings in a range of $0.50 to $0.75 per share on net sales between $460 million and $470 million, with a low-teens percent decrease in comparable retail sales.

For fiscal 2022, the company now projects adjusted earnings in a range of $4.05 to $4.30 per share on net sales between $1.713 billion and $1.723 billion, with a low-double digit decrease in comparable retail sales.

Previously, the company expected adjusted earnings of around $7.00 per share on net sales of approximately $1.725 billion, with a low double digit decrease in comparable retail sales.

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

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

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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.
RTTNews | Pred 770 dňami
U.S. Dollar Advances Amid Higher Treasury Yields

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Turkish CB Cuts Interest Rate For First Time Since Early 2023

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