Children's Place Posts Wider Q2 Loss; Updates 2015 Adj. EPS Guidance

(RTTNews) - The Children's Place, Inc. (PLCE), the largest pure-play children's specialty apparel retailer in North America, reported a second-quarter net loss of $13.7 million, or $0.67 per share, compared to a loss of $10.7 million, or $0.49 per share, previous year. During the second quarter, the company recorded charges of $11.2 million for unusual items. Adjusted net loss was $6.8 million, or $0.33 per share, for the quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report a loss per share of $0.33 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $366.5 million compared to $384.6 million for the second quarter of 2014. Comparable retail sales decreased 3.5% in the second quarter of 2015. Analysts expected revenue of $380.57 million for the quarter.

Children's Place updated its outlook for fiscal 2015 and now expects adjusted net income per share to be in the range of $3.35 to $3.45, inclusive of a $0.15 negative impact from foreign exchange. Analysts expect the company to report full year earnings per share of $3.45.

For the third quarter of 2015, Children's Place expects adjusted net income per share between $1.90 and $1.96, inclusive of an estimated $0.07 negative impact from foreign exchange. Analysts expect the company to report earnings per share of $1.96.

The Children's Place, Inc. also announced that its Board has declared a quarterly cash dividend of $0.15 per share to be paid October 8, 2015 to shareholders of record at the close of business on September 17, 2015.