Children's Place (PLCE) Q4 Comps Up 7.3%, Raises EPS Outlook

The Children’s Place, Inc. (Nasdaq: PLCE) today increased guidance for fourth quarter and fiscal year 2016 comparable retail sales and adjusted net income per diluted share.

Jane Elfers, President and Chief Executive Officer, announced: “Our comparable retail sales were positive 6.9% through the first nine weeks of the fourth quarter, compared to positive 7.3% in the comparable nine week period in the fourth quarter of 2015. Based on these outstanding results, we are increasing our fourth quarter and fiscal year 2016 guidance for comparable retail sales and adjusted diluted EPS.”

Ms. Elfers concluded: "Our strong performance is the result of consistent execution against our long term strategic growth initiatives led by a best in class management team.”

The Company also announced that it will participate at the 2017 ICR Conference in Orlando, Florida on Tuesday January 10th, 2017.

Updated OutlookThe Company is updating its outlook for the fourth quarter of 2016 and now expects adjusted diluted EPS to be in the range of $1.53 and $1.58. This compares to the Company’s previous guidance for adjusted diluted EPS of $1.43 to $1.48 and to adjusted diluted EPS of $1.19 in the fourth quarter of 2015. This guidance assumes a comparable retail sales increase of approximately 6% to 7% for the quarter compared to a 6.7% increase in the fourth quarter of 2015 and previous guidance of a low single digit increase. (**** consensus is $1.52)

The Company is also updating its outlook for fiscal year 2016 and now expects adjusted diluted EPS to be in the range of $5.10 to $5.15. This compares to the Company’s previous guidance for adjusted diluted EPS of $5.00 to $5.05 and to adjusted diluted EPS of $3.60 in fiscal 2015. This guidance assumes a comparable retail sales increase of approximately 5% for the year. This guidance for adjusted diluted EPS excludes net charges of approximately $0.2 million as of the end of the third quarter, primarily related to asset impairment charges and income related to the release of reserves for prior year uncertain tax positions that the Company believes are not reflective of the performance of its core business. (**** consensus is $5.06)

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