Children’s Place, Inc. (NASDAQ: PLCE) recently announced preliminary partial fourth-quarter net sales results for the six-week period ending December 14, 2024. The company reported a 3.4% increase in net sales compared to the same period the previous year. This growth marks a positive year-over-year trend and an improvement over the third quarter’s year-to-date performance.
During this six-week period, the company experienced a decline in brick-and-mortar revenue due to a decrease in store count. However, there was a smaller-than-expected drop in e-commerce revenue as the company continued to streamline its promotional strategies. These declines were offset by an increase in wholesale revenue.
These preliminary results are subject to change as they are unaudited and based on data from only part of the fourth quarter. Actual results may vary due to final adjustments and other developments before the fiscal year ending February 1, 2025, results are finalized. The company also cautioned that these early financial results should not be considered a substitute for full financial statements prepared in accordance with U.S. GAAP.
Forward-looking statements contained in the company’s announcements are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include expectations regarding strategic initiatives, net sales results, channel sales results, and comparable retail sales for the part of the fourth quarter of fiscal 2024.
Investors are advised to exercise caution and not place undue reliance on these forward-looking statements, as they are based on current expectations and subject to various risks and uncertainties. The company’s filings with the Securities and Exchange Commission outline some of these risks and uncertainties, emphasizing the potential impact on the company’s operations, financial performance, and industry trends going forward.
For further information, investors can contact Children’s Place Investor Relations at (201) 558-2400 ext. 14500.
This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Children’s Place’s 8K filing here.
Children’s Place Company Profile
The Children's Place, Inc operates as a children's specialty apparel retailer in North America. It operates through two segments, The Children's Place U.S. and The Children's Place International. The company offers apparel, footwear, accessories, and other items for children and tweens; and designs, contracts to manufacture, and sells merchandise under the proprietary The Children's Place, Place, Baby Place, Gymboree, Sugar & Jade, and PJ Place brand names.
