The Children's Place Inc. (PLCE) reported earnings for third quarter that decreased from the same period last year and missed the Street estimates.
The company's bottom line totaled $20.08 million, or $1.57 per share. This compares with $38.48 million, or $3.05 per share, in last year's third quarter.
Excluding items, The Children's Place Inc. reported adjusted earnings of $26.08 million or $2.04 per share for the period.
Analysts on average had expected the company to earn $2.43 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 18.8% to $390.17 million from $480.23 million last year.
The Children's Place Inc. earnings at a glance (GAAP) :
-Earnings (Q3): $20.08 Mln. vs. $38.48 Mln. last year.
-EPS (Q3): $1.57 vs. $3.05 last year.
-Revenue (Q3): $390.17 Mln vs. $480.23 Mln last year.
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