Children's Place Sees Q4 EPS In Upper End Of View, Announces $100 Mln Buyback

(RTTNews) - The Children's Place, Inc. (PLCE) Thursday said it expects to deliver both comparable retail sales and adjusted earnings per share for the fourth quarter in the upper end of the previously issued guidance range.

Comparable retail sales were previously guided to increase in low single digits, and adjusted net income per share were previously guided to be between $0.83 and $0.93.

Jane Elfers, President and Chief Executive Officer, said, "Customer reaction to the Spring merchandise has been strong and our inventories are in excellent shape entering 2015, with a significant decline in carryover inventory."

In addition, the Board authorized a new $100 million share repurchase. According to the company, over the past five years, it has returned over $487 million to shareholders through share repurchases and dividends.

The company also announced that it would participate at the 2015 ICR XChange conference in Orlando, Florida on Monday January 12.