Children's Place Lifts Q4, FY15 EPS View - Quick Facts

(RTTNews) - The Children's Place Inc. (PLCE) reported that its Comparable retail sales were running positive 7.3% through the first nine weeks of the fourth quarter, representing approximately 85% of planned sales volume for the quarter. These comparable retail sales results are being driven by increases in key retail selling metrics despite continued weakness in traffic.

The Company now expects comparable retail sales to increase in the range of 6% to 7% in the fourth quarter, compared to previous guidance of a low-single digit increase.

The company now expects to achieve fourth quarter adjusted net income per diluted share in the range of $1.05 to $1.12, compared to previous fourth quarter adjusted diluted EPS guidance of $0.93 to $1.03.

The fourth-quarter guidance range assumed that currency exchange rates will negatively impact adjusted earnings per share by approximately ($0.03) in the fourth quarter.

On a constant currency basis, adjusted earnings per share is projected to be $1.08 to $1.15 for the fourth-quarter. Analysts polled by Thomson Reuters expect the company to report earnings of $1.00 per share for the fourth-quarter. Analysts' estimates typically exclude special items.

For the full year 2015, the Company now expects comparable retail sales to be approximately flat, compared to previous guidance of slightly negative comparable retail sales and now expects to achieve adjusted earnings per share in the range of $3.47 to $3.54, compared to previous full year 2015 adjusted earnings per share guidance of $3.35 to $3.45.

The guidance range assumed that currency exchange rates will negatively impact adjusted EPS by approximately ($0.14) cents in the full year 2015. On a constant currency basis, full year 2015 adjusted earnings per share is projected to be $3.61 to $3.68. Analysts expect annual earnings of $3.43 per share.