Children's Place (PLCE) Reaffirms Q3 EPS Guidance

The Children’s Place, Inc. (Nasdaq: PLCE), the largest pure-play children’s specialty apparel retailer in North America, today announced that it has consolidated key management roles.

Jane Elfers, President and CEO announced, “Over the past several years, we have made significant investments in support of our company-wide business transformation efforts. As we approach the last phase of our major systems implementations, the opportunity exists for significant efficiencies across the organization, and today we are announcing a more streamlined senior leadership structure. I will permanently reassume direct responsibility for product and Mike Scarpa will permanently reassume the CFO title, in addition to his current COO title. Pamela Wallack and Anurup Pruthi have left the business to pursue other opportunities. We thank them for their contributions and wish them well in their future endeavors.”

Ms. Elfers continued, “We delivered positive comp sales every month in Q3 resulting in a positive high single digit comp for the quarter. In light of our strong performance, we are reaffirming our Q3 EPS guidance. Importantly, our inventory is in great shape as we enter Q4.”

Ms. Elfers concluded, “We look forward to continuing to deliver best in class results for our shareholders and to further updating you on our progress on our third quarter conference call.”

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