Children's Place Posts Wider Loss In Q4

(RTTNews) - The Children's Place, Inc. (PLCE) posted a net loss of $128.8 million, or $10.26 per share, in the three months ended February 3, 2024, compared to a loss of $50.5 million, or $4.10 per share, in the three months ended January 28, 2023. Adjusted net loss was $92.7 million, or $7.38 per share, compared to a loss of $47.7 million, or $3.87 per share, prior year. On average, three analysts polled by Thomson Reuters expected the company to report a loss per share of $1.66, for the quarter. Analysts' estimates typically exclude special items.

Net sales decreased 0.2%, to $455.0 million in the three months ended February 3, 2024, from $456.1 million in the three months ended January 28, 2023. Comparable retail sales increased 4.8% for the quarter. Analysts on average had estimated $459.32 million in revenue.

Shares of Children's Place are down 5% at $7.38 in pre-market trade on Monday.

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