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Stock impact report

Children's Place stock soars after surprise profit [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. stock soared 12.2% in Tuesday premarket trading after the kids clothing and accessories chain reported a surprise fourth-quarter profit and sales that beat expectations. Net income totaled $7.8 million, or 53 cents per share, down from $24.2 million, or $1.61 per share, last year. Adjusted EPS of $1.01 was well ahead of the FactSet consensus for a 23-cent loss. Sales of $472.9 million were down from $513.0 million last year and beat the FactSet consensus for $421.0 million. Digital sales were up 38%, accounting for 46% of total sales. "With no significant COVID-19 temporary U.S. store closures during the quarter, U.S. store sales were better than expected at 81% of last year's levels with traffic down approximately 35%," said Jane Elfers, chief executive of the company, in a statement. However, about two-thirds of Canadian stores were closed due to the pandemic with sales at 52% of last year's levels and traffic reduced by 62%. Children's Place permanently shutte Show less Read more
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