NEW YORK (TheStreet) -- Shares of The Children's Place Inc. (PLCE) are higher by 4.82% to $52.88 in late morning trading on Thursday, after the company reported a narrower than expected 2014 second quarter net loss of -$10.7 million, or -49 cents per share, compared to a net loss of -$23.6 million, or -$1.05 per share for the year ago period.
Adjusted net loss was -$8.2 million, or -37 cents per share, while analysts polled by Thomson Reuters expected an adjusted loss of -45 cents per share.
The children's apparel retailer said its net sales rose to $384.6 million, from $382.4 million for the 2013 second quarter.
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Additionally, the company announced today that it has partnered with Arvind Lifestyle Brands Limited to expand its presence in India with the potential opening of 50 stores.
Separately, TheStreet Ratings team rates CHILDRENS PLACE INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate CHILDRENS PLACE INC (PLCE) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."