The Children's Place, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year of 2017; Reports Comparable Retail Sales for the First Nine Weeks of the Fourth Quarter
January 08, 2018 at 04:30 pm IST
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The Children's Place, Inc. Provided earnings guidance for the fourth quarter and full year of 2017. For the quarter, the company is updating its outlook for the fourth quarter of 2017 and expects adjusted diluted EPS to be in the range of $2.45 and $2.50. This compares to the company's previous guidance for adjusted diluted EPS of $2.07 to $2.12 and to adjusted diluted EPS of $1.88 in the fourth quarter of 2016. This guidance assumes a comparable retail sales increase of approximately 7.5% to 8.5% for the quarter compared to a 6.9% increase in the fourth quarter of 2016 and previous guidance of a low single digit increase.
The company is updating its guidance for fiscal 2017 and expects adjusted diluted EPS to be in the range of $7.83 to $7.88. This compares to the company's previous guidance for adjusted diluted EPS of $7.46 to $7.51. Both guidance ranges include a $0.91 benefit resulting from new accounting rules for the income tax impact on share-based compensation. Excluding the benefit from the new accounting rules, full year adjusted diluted EPS is projected to increase 27% to 28% compared to adjusted diluted EPS of $5.43 last year.
The company announced the comparable retail sales of positive 8.5% through the first nine Weeks of the fourth quarter compared to positive 6.9% in the comparable period in the fourth quarter of fiscal 2016.
The Children's Place, Inc. is an omni-channel childrenâs specialty portfolio of brands with an industry-leading digital-first model. The Company designs, contracts to manufacture, and sell fashionable apparel, accessories, and footwear primarily under its proprietary brands: The Childrenâs Place, Gymboree, Sugar & Jade, and PJ Place. Its segments include The Childrenâs Place U.S. and The Childrenâs Place International. The Childrenâs Place U.S. segment includes the United States and Puerto Rico-based stores. The Childrenâs Place International segment includes Canadian based wholesale business, as well as international franchisees. Its global retail and wholesale network includes two digital storefronts, more than 500 stores in North America, wholesale marketplaces and distribution in 16 countries through six international franchise partners. Its merchandise is also available online at www.childrensplace.com and www.gymboree.com.
The Children's Place, Inc. Provides Earnings Guidance for the Fourth Quarter and Full Year of 2017; Reports Comparable Retail Sales for the First Nine Weeks of the Fourth Quarter
THE CHILDREN'S PLACE, INC. 
