The Children's Place, Inc. Q4 Profit Beats Estimates

(RTTNews) - The Children's Place, Inc. (PLCE) reported fourth quarter adjusted earnings per share of $1.01 compared to $1.85, a year ago. On average, seven analysts polled by Thomson Reuters expected the company to report a loss per share of $0.23, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter net sales decreased 7.8% to $472.9 million, primarily driven by the impact of permanent and temporary store closures and the negative impact of reduced operating hours in mall stores, as mandated by the mall owners. Comparable retail sales for the quarter increased 1%. Analysts expected revenue of $420.16 million, for the quarter. Consolidated digital sales increased 38% for the fourth quarter, representing 46% of total sales.

Shares of The Children's Place, Inc. were up 10% in pre-market trade on Tuesday.