Children's Place slumps after Q3 earnings miss

Children's Place

16/11/2023 15:28

(Updates)
    ** Shares of apparel retailer Children's Place  PLCE.O 
slump 24.53% at $21.55, set for it worst day since May
    ** Co reports Q3 EPS of $3.05, adj. EPS of $3.22, below
analyst estimates of $3.48 and $3.51, respectively - LSEG data 
    ** PLCE says Q3 bottom-line results impacted by higher than
planned distribution costs; planning for these costs to continue
in Q4
    ** Sees Q4 adj. net income per diluted share in range of
$0.25 to $0.45 vs estimates of $1.30
    ** Expects FY 2023 adj. net loss per diluted share in the
range of $0.59 to $0.39 vs estimates of profit of 81 cents
    ** Up to last close, PLCE down 21.58% YTD

 (Reporting by Juby Babu in Bengaluru)
 ((Juby.Babu@thomsonreuters.com;))