Children's Place Retail Stores Inc. (PLCE) reported that Comparable retail sales, which include online sales, increased 12% in January 2010 as compared to a 4% decline in January 2009. During January 2010, comparable store sales increased 12% in the U.S. and 1% in Canada, while online sales increased 34%. Net sales were $95.1 million, up 18% from $80.3 million last year.
The Company is estimating that earnings per share from continuing operations for the fourth quarter of 2009 will be in the range of $1.15-$1.20, including an income tax benefit of approximately $4 million from excess foreign tax credits. Excluding unusual or one-time items, the Company is estimating adjusted earnings per share from continuing operations for the fourth quarter of 2009 will be in the range of $0.99-$1.04. Analysts polled by Thomson Reuters expect the company to report earnings of $0.81 per share for the quarter. Analysts' estimates typically exclude special items.
For fiscal year 2009, the Company is estimating that earnings per share from continuing operations will be in the range of $3.01-$3.06, including approximately $0.40 per share for items which the Company deems to be unusual or one-time in nature. Excluding these unusual or one-time items, the Company is estimating adjusted earnings per share from continuing operations for fiscal year 2009 will be in the range of $2.61-$2.66. Analysts expect the company to report earnings of $2.47 per share for fiscal 2009.
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