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The Children's Place Cuts FY18 Adj. EPS Guidance - Quick Facts

The Children's Place, Inc. (PLCE) reported that the company is updating its outlook for fiscal 2018 and now expects adjusted net income per diluted share to be in the range of $7.69 to $7.79 compared to previous guidance in the range of $8.09 to $8.29. The company now expects total net sales for the year to be in the range of $1.955 to $1.960 billion. The guidance assumes a positive mid-single digit comparable retail sales increase. The company now expects adjusted operating margin to be in the range of 7.7% to 7.8%.

The Children's Place expects adjusted net income per diluted share in the fourth quarter of 2018 to be in the range of $2.07 to $2.17. The company now expects total net sales in the fourth quarter to be in the range of $547 million to $552 million. The guidance assumes a positive low-single digit comparable retail sales increase.

For the third-quarter, adjusted net income was $50.7 million, or $3.07 per diluted share, compared to adjusted net income of $46.7 million, or $2.58 per diluted share, in the third quarter last year. Net sales increased by 6.6%, to $522.5 million during the third quarter from $490.0 million, previous year. The increase was primarily driven by a positive comparable retail sales increase of 9.5%.

Jane Elfers, CEO, said: "For Q3, we delivered adjusted EPS of $3.07, the high-end of our guidance range. Led by surging demand in our digital channels, we delivered an industry-leading 9.5% comp on top of a positive 5.1% comp last year. Our digital channels delivered a 38% increase, representing 29% of our net sales for the quarter."

The Board declared a quarterly cash dividend of $0.50 per share to be paid December 28, 2018 to shareholders of record at the close of business on December 17, 2018.

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