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0 0.000146886016451309 -0.00117508813160985 -0.0214453584018801 -0.0268801410105758 0.0428907168037603 0.0575793184488837 0.0777027027027028
Stock impact report

Children's Place shares headed toward a three-year low after sales miss, weak guidance [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 shares headed toward a three-year low after sales miss, weak guidance Children's Place Inc. PLCE, -3.23% stock sank 12.5% in Wednesday premarket trading, heading to an open at a three-year low, after the retailer reported second-quarter sales that missed expectations and gave weak guidance. Net income totaled $1.5 million, or 10 cents per share, down from $7.5 million, or 45 cents per share, last year. Adjusted EPS of 19 cents beat the FactSet consensus of 18 cents per share. Sales of $420.5 million was also down from $448.7 million and missed the FactSet guidance for $427.0 million. Same-store sales fell 3.8%, below the 2.8% decline FactSet expected. Jane Elfers, chief executive of Children's Place, said there was "lingering pressure from the Q1 Gymboree liquidation" and traffic was weaker than expected, which led to more promotions in the sector. "[W]e believe it is prudent to assume an elevated promotional environment for the back half of 2019," the statement sa Show less Read more
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