Categories Earnings Call Transcripts, Retail
The Children’s Place (PLCE) Q1 2020 Earnings: Key financials and quarterly highlights
The company targets 300 additional store closures
The Children’s Place, Inc. (NASDAQ: PLCE) today announced its first quarter financial results for the period ended May 2, 2020.
Net loss for the first quarter was $(114.8) million, or ($7.86) per share, compared to net income of $4.5 million, or $0.28 per share in the first quarter of 2019.
Net sales decreased 31% to $255.2 million.
We believe that our strong digital foundation, coupled with the rapidly changing shopping patterns of our consumer, partly due to the COVID-19 pandemic, our strong value proposition and our core, digital-savvy, millennial customer, will result in the continued acceleration of our digital revenue. Our Fleet Optimization initiative has been a decade-long strategic focus that has resulted in optimum flexibility in our lease terms, enabling us to significantly accelerate store closures without financial penalty. We are now targeting to close an additional 300 stores by the end of fiscal 2021, with 200 closures planned for this year, and 100 closures planned for 2021. This initiative will greatly reduce our reliance on our brick-and-mortar channel and we are targeting our mall-based, brick-and-mortar portfolio to represent less than 25% of our revenue entering fiscal 2022.
Jane Elfers, President and CEO 
COVID-19 puts insurers in tricky situation; risks range from litigation to insolvency
Ravaging almost every part of the world and crippling economic activity, the coronavirus pandemic has not spared any business. When it comes to the insurance industry, the nature of impact is complex and there is no doubt the companies will struggle with their underwriting decisions once the damage is fully assessed.
Most Popular
CCL Earnings: Highlights of Carnival Corporation’s Q4 2025 results
Cruise operator Carnival Corporation & plc (NYSE: CCL) on Friday reported an increase in revenue and adjusted earnings for the fourth quarter of fiscal 2025. Earnings topped analysts' expectations. Revenues
Lamb Weston (LW) Q2 2026 Earnings: Key financials and quarterly highlights
Lamb Weston Holdings, Inc. (NYSE: LW) reported its second quarter 2026 earnings results today. Net sales inched up 1% year-over-year to $1.62 billion. Net sales at constant currency remained flat.
Paychex reports higher Q2 FY26 revenue and earnings; EPS beats estimates
Paychex Inc. (NASDAQ: PAYX) on Friday reported stronger-than-expected adjusted earnings for the second quarter of fiscal 2026. Revenues grew 18% year-over-year. The Rochester-based human capital management solutions provider reported revenues
