Children's Place Retail Stores (PLCE) reported first quarter net income of $0.83 per share Thursday morning, down from $1.00 per share last year. The consensus estimate was for EPS of $0.61. The company expects to report an adjusted EPS loss of $0.50 to $0.55 for the second quarter and an adjusted profit of $3.05 and $3.20 for the full year 2013. The consensus estimates are for a loss of $0.60 and a profit of $3.00.
Children's Place gapped open sharply higher Thursday, but then retreated until around 1:30PM. Shares finished with a gain of 1.42 at $52.89 on above average volume. The stock closed at a 6-month high.
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