Children's Place Q4 Results Top View - Quick Facts

(RTTNews) - The Children's Place, Inc. (PLCE), the largest pure-play children's specialty apparel retailer in North America, Thursday said fourth-quarter net income increased to $17.0 million, or $0.79 per share from $15.7 million, or $0.69 per share, the previous year.

Adjusted net income was $20.2 million, or $0.94 per share, while it totaled $21.8 million, or $0.96 per share, in the fourth quarter last year. On average, 19 analysts polled by Thomson Reuters expected earnings of $0.93 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales were $479.2 million, compared to $467.5 million in the prior year. Analysts expected revenues of $479.00 million.

The quarter included the negative impact of around $4.6 million from currency exchange rate fluctuations. Comparable retail sales increased 3.7 percent for the fourth quarter 2014.

Jane Elfers, President and CEO, said, "The Children's Place delivered fourth quarter adjusted EPS of $0.94 and an increase in comparable retail sales of 3.7%, which was driven by an increase in transactions and average transaction value. Our performance was consistent across product categories and regions during the quarter."

The company expects adjusted net income per share in the first quarter of 2015 will be between $0.60 and $0.65, inclusive of an estimated $0.01 negative impact from foreign exchange. This compares to adjusted net income per share of $0.68 in the first quarter of 2014. Analysts expect quarterly earnings of $0.73 per share.

For fiscal 2015, the company expects adjusted net income per share will be in the range of $3.15 to $3.30, inclusive of a $0.15 negative impact from foreign exchange. This compares to adjusted net income per share of $3.05 in fiscal 2014. Wall Street looks for annual earnings per share of $3.41.

The company expects the weakness in the Canadian dollar to have a negative impact on its 2015 results.

The company also announced that its Board of Directors has increased its quarterly dividend to $0.15 per share from $0.1325 per share. The dividend is to be paid April 30, to shareholders of record at the close of business on April 9.