Children’s Place Fiscal Q1 Results Top Views

The Children’s Place shares rose 8% in pre-market after the company reported fiscal Q1 adjusted earnings of $1.95 per diluted share compared with an income of $1.32 per share a year ago, beating the $1.64 average estimate from analysts polled by Capital IQ. Net sales during the 13 weeks that ended April 29 rose to $436.7 million from $419.4 million a year ago, coming in above the $422.5 million consensus.

Updating its outlook for fiscal 2017, the company said adjusted EPS is expected to remain between $7.10 and $7.20, above the Street’s forecast of $6.66 as well as the company’s previous guidance of $6.50 to $6.65. Assuming a low single-digit increase in comparable retail sales, the fiscal Q2 adjusted EPS is expected to remain in a range of $0.70 and $0.75, inclusive of a $0.70 benefit resulting from new accounting rules for the income tax impact on share-based compensation. The average analyst estimate is $0.20.

By Sonia Taylor