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The Children’s Place updates Q4 earnings outlook

The Children’s Place has announced positive growth in its comparable retail sales for the first nine weeks of the fourth quarter along with increased guidance for fourth quarter and fiscal year 2017 comparable retail sales and adjusted diluted EPS. The company now expects adjusted diluted EPS to be in the range of 2.45 dollars and 2.50 dollars.

Commenting on the update, Jane Elfers, President and Chief Executive Officer, said in a statement: “Our comparable retail sales were outstanding, a positive 8.5 percent through the first nine weeks of the fourth quarter, on top of a positive 6.9 percent in the comparable nine week period in the fourth quarter of fiscal 2016 and positive 7.3 percent in the comparable nine week period in the fourth quarter of fiscal 2015. We achieved positive comparable retail sales in all channels and geographies, with our US business generating positive comparable retail sales of 8.4 percent and our Canadian business generating positive comparable retail sales of 9.4 percent.”

The Children’s Place updates Q4 outlook

The company is updating its outlook for the fourth quarter of 2017 and now expects adjusted diluted EPS to be in the range of 2.45 dollars and 2.50 dollars. This compares to the company’s previous guidance for adjusted diluted EPS of 2.07 dollars to 2.12 dollars and to adjusted diluted EPS of 1.88 dollars in the fourth quarter of 2016.

This guidance assumes a comparable retail sales increase of approximately 7.5 percent to 8.5 percent for the quarter compared to a 6.9 percent increase in the fourth quarter of 2016 and previous guidance of a low single digit increase.

The company has also updated its guidance for fiscal 2017 and now expects adjusted diluted EPS to be in the range of 7.83 dollars to 7.88 dollars. This compares to the company’s previous guidance for adjusted diluted EPS of 7.46 dollars to 7.51 dollars. Excluding the benefit from the new accounting rules, full year adjusted diluted EPS is projected to increase 27 percent to 28 percent compared to adjusted diluted EPS of 5.43 dollars last year.

Picture:Facebook/The Children's Place