Children's Place (PLCE) Q3 Earnings & Sales Beat Estimates
Zacks Investment Research | Nov 15, 2017 09:04PM ET
The Children’s Place, Inc. (NASDAQ:PLCE) continued with upbeat performance in fiscal 2017 as it posted third-quarter results and also provided an encouraging outlook.
As a result, shares of the company rose 5.9% in the trading session on Nov 15. Year to date, this Zacks Rank #3 (Hold) stock has been up 19.6% comfortably outperforming the industry ’s decline of 19.4%.
In the reported quarter, this pure-play children’s specialty apparel retailer posted adjusted earnings of $2.58 per share outpacing the Zacks Consensus Estimate of $2.46 and surged 12.7% from the year-ago period. Higher sales, margin expansion and share repurchase activity drove the bottom line.
Net sales came in at $490 million, up 3.4% year over year and also surpassed the Zacks Consensus Estimate of $477 million. Comparable store sales (comps) rose 5.1% in the quarter compared with 4.6% growth registered in the year-ago period. Notably, this was the eighth straight quarter of comps growth. Though U.S. comp grew 5.9%, Canada comp declined 1.2%.
Adjusted gross profit increased 4.1% to $202.4 million while adjusted gross margin improved 30 basis points to 41.3% on account of improved merchandise margin. Adjusted operating income rose 9.5% to $68.4 million while operating margin expanded 80 basis points to 14%.
Children's Place, Inc. (The) Price, Consensus and EPS Surprise
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.