Children's Place Retail Q2 Loss Widens; Ups FY13 Adj. EPS View - Quick Facts

(RTTNews) - Children's specialty apparel retailer Children's Place Retail Stores, Inc. (PLCE) posted a wider second-quarter net loss of $23.64 million, or $1.05 per share, compared with a $17.92 million, or $0.74 per share loss, in the previous year. Adjusted net loss was $9.43 million, or $0.42 per share for the latest period. On average, 20 analysts polled by Thomson Reuters expected loss per share of $0.53 for the quarter. Analysts' estimates typically exclude one-time items.

Net sales in the quarter increased 6.0% year-over-year to $382.45 million, from $360.83 million, while comparable retail sales were down by 0.4%. Sixteen analysts estimated revenues of $381.06 million for the quarter.

The firm issued its initial third quarter guidance, forecasting adjusted earnings per share between $1.83 and $1.89, assuming flat comparable retail sales.

For fiscal 2013, the company updated its guidance to reflect second quarter results and now projects adjusted earnings per share to be between $3.15 and $3.28, assuming negative low-single digit comparable retail sales. This compares with its prior guidance of $3.05 to $3.20, assuming flat to slightly negative comparable retail sales. Twenty analysts project full-year earnings of $3.16 per share.