The Children's Place posts increase in Q4 profit

The Children’s Place, Inc. reported net sales decrease of 3.3 percent to 513 million dollars in the fourth quarter, primarily as a result of a comparable retail sales decrease of 3.6 percent. The company said in a statement that net income for the quarter was 24.2 million dollars or 1.61 dollars per diluted share compared to 12 million dollars or 74 cents per diluted share, in the three months ended February 2, 2019, while adjusted net income was 28 million dollars or 1.85 dollars per diluted share, compared to 17.9 million dollars or 1.10 dollars per diluted share, in the comparable period last year.