UPDATE: Children's Place Posts Drop In Q4 Earnings, Issues Weak Outlook
The Children's Place Retail Stores (NASDAQ: PLCE) reported an 18% drop in its fiscal fourth-quarter earnings.
For the full year, Children's Place projects earnings of $2.85 to $3.05 per share, versus analysts' estimates of $3.65 per share.
Children's Place posted its quarterly earnings of $15.7 million, or $0.69 per share, versus $19.1 million, or $0.80 per share, in the year-ago period. Excluding special items, its adjusted earnings came in at $0.96 per share. The company has expected earnings of $0.90 to $0.98 per share.
Its revenue slipped 8.2% to $467.5 million, while same-store sales fell 4.3%.. However, analysts were projecting revenue of $484 million.
Children's Place shares tumbled 9.49% to $49.51 in pre-market trading.
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