Children's Place (PLCE) Tops Q3 EPS by 27c, Comps Up 4.6%; Raises Outlook
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Children's Place (NASDAQ: PLCE) reported Q3 EPS of $2.29, $0.27 better than the analyst estimate of $2.02. Revenue for the quarter came in at $473.8 million versus the consensus estimate of $461.98 million. Comparable Retail Sales Increase of 4.6%.
Children's Place sees FY2016 EPS of $5.00-$5.05, versus prior guidance of $4.60-$4.70 and the consensus of $4.69.
Jane Elfers, President and Chief Executive Officer, said, “We delivered another outstanding quarter, with EPS significantly above the high end of our guidance range. Comparable retail sales increased 4.6%. Comps were positive in all three months and accelerated as the quarter progressed. Inventory decreased 0.6% and is in excellent shape as we enter the fourth quarter. Based on these results, we are raising our adjusted EPS guidance for the full year to $5.00 to $5.05 per share compared to our previous guidance of $4.60 to $4.70 per share.”
Ms. Elfers continued, “Our number one priority is the creation of shareholder value. Our results are indicative of the impressive progress we have made against each of our strategic growth initiatives - superior product, business transformation through technology, global growth through alternate channels of distribution and fleet optimization - all of which are supported by a best-in-class management team. We look forward to continued momentum in our business for the fourth quarter and beyond.”
For earnings history and earnings-related data on Children's Place (PLCE) click here.
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