United States  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Children's Place posts 1Q beat, but shares turn tail

Proactive Investors Wednesday, 15 May 2019
The Children's Place Inc.(NASDAQ:PLCE) reported first-quarter results that outpaced Street expectations Wednesday morning, but shares fell nonetheless as US retail sales data disappointed. The retailer saw earnings fall to $0.28 per share from $1.78 in the year ago quarter, easily outpacing analyst expectations of a $0.49 per share loss. Revenue fell 5.5% to $412.4 million, compared with Street estimates of $399 million. The surprsie results came as the company liquidated 800 Gymboree and Crazy 8 stores in the quarter, which overlapped with 70% of Children’s Place stores. After surging in pre-market trading, shares crashed back to earth, dropping 8.3% to $102.79. READ: The Children's Place shares sink after retailer misses Street's fiscal 4Q estimates and and announces purchase of Gymboree assets One reason for the decline could be lagging US retail sales data. According to data from the Census Bureau released Wednesday morning, retail sales reversed course in April, dropping 0.2% after a 1.7% increase in March. Analysts had called for growth of 0.2%. Looking ahead, the New Jersey company second quarter EPS between flat and $0.20 on revenue between $415 million and $420 million. Analysts are calling for $0.10 EPS on revenue of $420.4 million. For fiscal 2019, it expects between $5.75 and $6.25 EPS on revenue between $1.91 billion and $1.93 billion, while Street expectations are $5.60 EPS on revenue of $1.91 billion. Contact Andrew Kessel at [email protected] Follow him on Twitter @andrew_kessel

You Might Like

Recent related videos from verified sources

Wednesday Sector Leaders: Agriculture & Farm Products, Electric Utilities [Video]Wednesday Sector Leaders: Agriculture & Farm Products, Electric Utilities

In trading on Wednesday, agriculture & farm products shares were relative leaders, up on the day by about 0.5%. Leading the group were shares of S&W Seed, up about 9% and shares of Cresud S.

Credit: Market News Video     Duration: 01:08Published

Father & Daughter Duo Pull Off Disturbing Halloween Costume [Video]Father & Daughter Duo Pull Off Disturbing Halloween Costume

Are you one of the people who love Halloween celebrations and the incredible costumes that some people make? Then you have to watch this video right now! Amazing costumes are often seen at Halloween..

Credit: Rumble Studio     Duration: 00:20Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.