Children's Place -8% after disappointing profit guidance [Seeking Alpha]
Last childrens place earnings: 3/17 07:32 am
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US:NASDAQ Investor Relations: phx.corporate-ir.net/phoenix.zhtml?c=120577&p=irol-irhome
The Children's Place (NASDAQ: PLCE ) reports comparable sales decreased 3.8% in Q2 vs. -4.0% consensus. A drag on sales during the quarter was the "lingering" pressure from the Gymboree liquidation Gross margin fell 150 bps to 33.0% of sales due chiefly to the deleverage of fixed expenses resulting from the decline in comparable retail sales, and increased penetration of e-commerce business, which operates at a lower gross margin rate. Merchandise margins decreased modestly, primarily as a result of traffic remaining difficult, which led to elevated promotional activity across the sector. Adjusted operating margin came in at 1.4% of sales vs. 3.5% a year ago and 1.1% consensus. Looking ahead, the retailer anticipates Q3 revenue of $530M to $535M vs. $535M consensus and EPS of $2.90 to $3.05 vs. $3.50 consensus. FY20 EPS of $5.40 to $5.75 is anticipated vs. $6.17 consensus. Shares of PLCE are premarket to $72.00. Previously: Children's Place Retail Stores E
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PLCE
News
- The Children's Place, Inc. (<a href="https://www.marketbeat.com/stocks/NASDAQ/PLCE/price-target/">NASDAQ: PLCE</a>) was downgraded by analysts at Monness Crespi & Hardt from a "buy" rating to a "neutral" rating. They now have a $60.00 prMarketBeat
- The Children's Place, Inc. (<a href="https://www.marketbeat.com/stocks/NASDAQ/PLCE/price-target/">NASDAQ: PLCE</a>) was downgraded by analysts at Citigroup Inc. from a "neutral" rating to a "sell" rating. They now have a $50.00 price tarMarketBeat
- The Children's Place, Inc. (<a href="https://www.marketbeat.com/stocks/NASDAQ/PLCE/price-target/">NASDAQ: PLCE</a>) had its price target raised by analysts at Telsey Advisory Group from $48.00 to $80.00. They now have an "outperform" ratiMarketBeat
- Robert F. Helm, SVP Finance & Inventory Management, Appointed Chief Financial Officer, effective April 1, 2021; Michael Scarpa, Chief Financial Officer, to Retire from The Children’s Place, effective March 31, 2021GlobeNewswire
- The Children's Place, Inc. (<a href="https://www.marketbeat.com/stocks/NASDAQ/PLCE/price-target/">NASDAQ: PLCE</a>) had its price target raised by analysts at B. Riley from $37.00 to $54.00. They now have a "neutral" rating on the stock.MarketBeat
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PLCE
SEC Filings
- 2/16/21 - Form SC
- 2/16/21 - Form SC
- 2/16/21 - Form SC
- PLCE's page on the SEC website
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