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

RTTNews | 731 dagar sedan
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

Taggar: 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.
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Children's Place Slashes Q4 Outlook

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