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

RTTNews | 707 days ago
Stocktwits
Children's Place Slashes FY23 Outlook As Q1 Results Miss Estimates; Stock Down 16%

(RTTNews) - 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.

On average, four analysts polled by Thomson Reuters expected the company to report a loss of $1.83 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter declined 11.2 percent to $321.64 million from $362.35 million in the same quarter last year. Analysts expected revenue of $338.46 million for the quarter. Comparable retail sales decreased 8.2 percent for the quarter.

Looking ahead to the second quarter, the company expects adjusted loss in a range of $2.15 to $2.20 per share on net sales between $340 million and $345 million. Analysts expect a loss of $1.56 per share on revenues of $358.28 million for the quarter.

For fiscal 2023, the company now projects adjusted earnings in a range of $1.00 to $1.50 per share on net sales between $1.575 billion and $1.590 billion.

Previously, the company expected adjusted earnings in the range of $2.50 to $3.00 per share on net sales between $1.62 billion and $1.66 billion.

The Street is looking for earnings of $2.15 per share on revenues of $1.65 billion for the year.

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

Tags: PLCE
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Dollar General Q4 Profit Rises, While Children's Place Slips To Loss

Dollar General Q4 Profit Rises, While Children's Place Slips To Loss

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 | 776 days ago
Children's Place Slashes Q4 Outlook

Children's Place Slashes Q4 Outlook

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.
RTTNews | 814 days ago
Macy's, Kohl's Q3 Results Top Estimates, While Children's Place Adj. EPS Missed

Macy's, Kohl's Q3 Results Top Estimates, While Children's Place Adj. EPS Missed

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 | 895 days ago
Japanese Market Slightly Higher

Japanese Market Slightly Higher

The Japanese market is trading slightly higher on Thursday, extending the gains in the previous five sessions, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving above the 36,100 level, with a mixed performance across most sectors as traders remain cautious ahead of the Bank of Japan's latest monetary policy decision.
RTTNews | 1h 16min ago
Australian Market Slightly Lower

Australian Market Slightly Lower

The Australian market is trading slightly lower on Thursday, snapping a five-session winning streak, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying above the 8,100 level, with slight weakness across most sectors led by mining and energy stocks. Some gold stocks were gaining.
RTTNews | 1h 55min ago
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