Children's Place Year Outlook Tops Views
SECAUCUS, N.J (
) --
Children's Place
(PLCE) - Get Report
expects its fiscal-year earnings to top analysts' estimates after reporting in-line fourth-quarter earnings.
Children's Place said that while the economy still remains uncertain it projects earnings from continuing operations of $2.90 to $3.10 a share in the next fiscal year, ahead of the $2.68 predicted by Wall Street. The forecast assumes positive low-single digit comparable retail sales.
For the first quarter, Children's Place is projecting earnings from continuing operations of 85 cents to 90 cents a share, assuming flat comparable retail sales, in line with the 87 cents predicted by analysts.
Excluding one-off items, Children's Place reported adjusted earnings from continuing operations of $28.5 million, or $1.03 a share in the fourth quarter, compared with $21.3 million, or 72 cents a share, a year earlier. The consenus estimate was for Children's Place earnings of $1.03 a share.
The retailer said comparable retail sales were flat in the fourth quarter.
Shares of Children's Place
-- Reported by Andrea Tse in New York
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