The Children's Place Q4 Profit Tops Estimates

(RTTNews) - The Children's Place, Inc. (PLCE) reported that its fourth quarter adjusted net income increased to $44.0 million, or $3.02 per share, from $14.9 million, or $1.01 per share, last year. On average, five analysts polled by Thomson Reuters expected the company to report profit per share of $2.85, for the quarter. Analysts' estimates typically exclude special items.

Net income increased to $39.0 million, or $2.68 per share, from $7.8 million, or $0.53 per share, prior year.

Net sales increased 7.4%, to $507.8 million from $472.9 million, a year ago. Comparable retail sales increased 13.3% for the quarter. Analysts on average had estimated $537.73 million in revenue.

The company expects to deliver double digit EPS and double digit operating margin for fiscal 2022.

Shares of The Children's Place were up 6% in pre-market trade on Wednesday.