— The Children’s Place, Inc. (NASDAQ: PLCE) reported adjusted earnings of $3.03 per share for the third quarter of 2019, vs. $3.02 per share expected.
— Net income was $43.0 million or $2.77 per share, compared to $49.9 million or $3.03 per share in the three months ended November 2018.
— Net sales increased 0.4% annually to $524.8 million, vs. $533.99 million expected, aided by a 0.8% rise in comparable retail sales
— Opened six stores and closed 12 stores in Q3, and ended the quarter with 955 stores and square footage of 4.5 million
— During the quarter, repurchased 414 thousand shares for about $33 million and paid a quarterly dividend of $0.56 per share
— For the fourth quarter, expects net sales in the range of $504 million to $509 million; sees a mid-single-digit drop in comparable retail sales
— Expects Q4 adjusted earnings per share to be in the range of $1.48 to $1.68
— For fiscal 2019, predicts net sales to be in the range of $1.862 billion to $1.867 billion; comparable retail sales expected to drop 3%
— Expects full-year adjusted earnings per share to be in the range of $5.00 to $5.20
Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text
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