UPDATE: Children's Place Posts Narrower-Than-Expected Q2 Loss, Lifts Outlook

Children's Place Retail Stores

posted a narrower-than-expected fiscal second-quarter loss and lifted its outlook for the year. Children's Place now projects earnings of $3.15 to $3.28 per share, versus its earlier forecast of $3.05 to $3.20 per share. Children's Place posted a quarterly loss of $23.6 million or $1.05 per share, versus a year-ago loss of $17.9 million, or $0.74 per share. Excluding one-time items, its adjusted loss came in at $0.42 per share. However, analysts were expecting a loss of $0.53 per share. Its revenue increased 6% to $382.4 million, versus analysts' estimates of $381 million. Children's Place shares closed at $51.40 yesterday.