Reuters
Feb 4, 2010
Children's Place sees fourth quarter EPS ahead of Street
Reuters
Feb 4, 2010
Feb 4 (Reuters) - Children's Place Retail Stores Inc (PLCE.O) forecast fourth-quarter earnings ahead of market estimates and posted a better-than-expected rise in January same-store sales.
The children's apparel retailer expects earnings per share from continuing operations in the fourth quarter of 99 cents to $1.04 a share, excluding items. The company also reported a 5 percent rise in fourth-quarter net sales to $462.8 million.
Analysts on average expect the company, scheduled to report fourth-quarter results on March 10, to earn 81 cents a share, before items, on sales of $452.5 million, according to Thomson Reuters I/B/E/S.
For January, the company reported a 12 percent increase in sales at stores open at least a year. Analysts were expecting the company to report a same-store sales increase of 1.6 percent, according to Thomson Reuters data.
Shares of the company were up 3 percent at $35.44 in trading before the bell. They closed at $34.40 Wednesday 3 February on Nasdaq. (Reporting by Abhishek Takle in Bangalore; Editing by Aradhana Aravindan)
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