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-0.00467379679144382 -0.00401069518716578 -0.0109090909090909 -0.0148663101604278 -0.0179786096256684 0.00320855614973274 0.0053475935828877 0.00213903743315511
Stock impact report

Children's Place to close 300 stores, reduce mall presence [MarketWatch]

Children's Place, Inc. (The) (PLCE) 
Last children's place, inc. (the) earnings: 3/17 07:32 am Check Earnings Report
Company Research Source: MarketWatch
Children's Place Inc. plans to close 300 stores over the next 20 months, the company's Chief Executive Jane Elfers said during its earnings call Thursday. With the closures, the company expects to head into 2022 with a fleet of mall stores that accounts for less than 25% of its revenue. The company has closed 275 stores since 2013. The retailer is focused on continuing its transition to digital, with e-commerce accounting for 31% of fiscal 2019 revenue. As of June 8, Children's Place had 61 stores open for operation and about 95% of stores remain closed after shutting stores to halt the spread of the coronavirus. "We continue to think of margin risk as to the most significant issue as the company aims for higher digital penetration and a much smaller mall footprint, coupled with a tight liquidity position, should the negative cash flow continue through the year," wrote Wedbush analysts. Wedbush rates Children's Place shares neutral with a $45 price target. Children's Place stock is up Show less Read more
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