logo
Plus   Neg
Share
Email

Children's Place Slashes FY19 Adj. EPS Outlook - Quick Facts

While reporting financial results for the second quarter on Wednesday, children's specialty apparel retailer The Children's Place, Inc. (PLCE) provided adjusted earnings guidance for the third quarter and slashed adjusted earnings guidance for the full-year 2019.

For the third quarter, the company expects adjusted net income in the range of $2.90 to $3.05 per share on net sales between $530 million and $535 million, and comparable retail sales increase in the range of 3 to 4 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.51 per share on net sales of $533.89 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2019, the company now forecasts adjusted net income in a range of $5.40 to $5.75 on net sales between $1.910 billion and $1.925 billion, and comparable retail sales to be flat.

Previously, the company expected adjusted net income in the range of $5.75 to $6.25 per share on net sales between $1.905 billion and $1.925 billion, and comparable retail sales to be flat.

Analysts expect the company to report earnings of $6.16 per share on revenues of $1.93 billion for the year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The National Labor Relations Board ruled in favor of McDonald's in a long-running case filed by workers who accused the fast-food giant of retaliation after they tried to unionize. The lawsuit, filed by 20 employees against McDonald's and some of its franchise operators in 2015. The lawsuit was seeking a ruling that would consider McDonald's a 'joint employer' with its franchisees. Shares of Facebook fell almost 3 percent in Thursday's trading after the Wall Street Journal reported that the Federal Trade Commission is considering seeking a preliminary injunction against Facebook amid antitrust concerns over the company's integration of its apps. Facebook had earlier said it was planning to integrate its three messaging services. Beverages giant Pepsi announced the launch Pepsi Café, a new coffee-infused cola, which will debut in the United States in April 2020. The new beverage, which aims to satisfy both cola lovers and coffee fanatics across the US, comes in two delicious flavors - Original and Vanilla, with roasted Arabica coffee. It will be available at all major national retailers beginning in April next year.
RELATED NEWS
Follow RTT
>