Children's Place Q1 Profit Increases - Quick Facts

(RTTNews) - Children's Place, Inc. (PLCE) reported that its net income for the first quarter of 2015 rose to $15.6 million or $0.73 per share, from $13.6 million or $0.61 per share in the previous year.

Adjusted net income was $17.7 million, or $0.83 per share, compared to $15.3 million, or $0.68 per share, in the first quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.82 per share for the quarter. Analysts' estimates typically exclude special items.

During the first quarter, the Company recorded charges of $3.5 million for unusual items, which primarily consisted of certain non-recurring items, including costs related to the proxy contest, restructuring costs, and store disposition and distribution center exit costs.

Net sales were $404.9 million down from $410.1 million last year. The latest-quarter net sales included the negative impact of approximately $4.7 million from currency exchange rate fluctuations. Comparable retail sales increased 0.7% for the first quarter 2015. Wall Street expected revenues of $405.35 million for the quarter.

For the second quarter of 2015, the Company expects adjusted net loss per share to be between $0.32 and $0.36, inclusive of an estimated $0.02 negative impact from foreign exchange. This guidance assumes an increase in comparable retail sales of approximately 1%. Analysts expect the company to report loss of $0.34 per share and revenues of $381.62 million for the second-quarter.

For fiscal 2015, the company expects adjusted net income per share will be in the range of $3.30 to $3.45, inclusive of a $0.15 negative impact from foreign exchange. This compares to adjusted net income per diluted share of $3.05 in fiscal 2014. This guidance assumes an increase in comparable retail sales for the year of approximately 1%. Analysts expect the company to report earnings of $3.44 per share and revenues of $1.75 billion for fiscal 2015.