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Stock impact report

The Children's Place Announces Preliminary Unaudited Results for the Fourth Quarter 2022

Children's Place, Inc. (The) (PLCE) 
Last children's place, inc. (the) earnings: 3/17 07:32 am Check Earnings Report
Company Research Source: GlobeNewswire
SECAUCUS, N.J., Feb. 06, 2023 (GLOBE NEWSWIRE) -- The Children’s Place, Inc. (Nasdaq: PLCE), the largest pure-play children’s specialty apparel retailer in North America, today announced preliminary unaudited results for the fourth quarter of 2022. Jane Elfers, President and Chief Executive Officer, said “We now expect to report a net loss in the range of ($52) million to ($57) million for the fourth quarter. This net loss was primarily due to a deterioration in gross margin for reasons not expected when we provided prior guidance, particularly a macro-economic environment in the fourth quarter that proved to be far more challenging for our core customers than we originally anticipated. As a result of this challenging environment and significantly higher input costs, including decade-high cotton costs and other supply chain costs, the Company made several forward-looking strategic decisions regarding the level and composition of its inventory, which negatively impacted short-term m Show less Read more
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