Children's Place (PLCE) Tops Q4 EPS by 28c, deferring fiscal 2020 financial guidance

Children's Place (NASDAQ: PLCE) reported Q4 EPS of $1.85, $0.28 better than the analyst estimate of $1.57. Revenue for the quarter came in at $513 million versus the consensus estimate of $509.91 million.

Outlook

As a result of the heightened uncertainty regarding the evolving COVID-19 pandemic, the Company is deferring its fiscal 2020 financial guidance and cancelling its webcast review and conference call scheduled for Thursday, March 19, 2020 at 8:00 a.m. Eastern Time.

In response to the ongoing uncertainty, the Company has implemented strategic cost reduction strategies, including reducing capital expenditures, across all functional areas. Inventory management will continue to be a strategic focus for the Company. Additionally, the Company’s capital return program, inclusive of share repurchases and dividends, has been temporarily suspended. The Company maintains strong, long-term relationships with its vendors, landlords, and banking partners, which helps support its ability to navigate challenging times.

For earnings history and earnings-related data on Children's Place (PLCE) click here.

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