Children's Place Slashes FY19 Adj. EPS Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Wednesday, children's specialty apparel retailer The Children's Place, Inc. (PLCE) provided adjusted earnings guidance for the third quarter and slashed adjusted earnings guidance for the full-year 2019.

For the third quarter, the company expects adjusted net income in the range of $2.90 to $3.05 per share on net sales between $530 million and $535 million, and comparable retail sales increase in the range of 3 to 4 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $3.51 per share on net sales of $533.89 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to fiscal 2019, the company now forecasts adjusted net income in a range of $5.40 to $5.75 on net sales between $1.910 billion and $1.925 billion, and comparable retail sales to be flat.

Previously, the company expected adjusted net income in the range of $5.75 to $6.25 per share on net sales between $1.905 billion and $1.925 billion, and comparable retail sales to be flat.

Analysts expect the company to report earnings of $6.16 per share on revenues of $1.93 billion for the year.