Children's Place Q4 preliminary net loss $52-57M vs prior profit guidance; sales down ~10%

Childrens Place, Inc.

2022-FY EPS reported -$0.09 revenue$1,708,482,000

Net loss expected $52-57M vs prior guidance of adjusted EPS $0.50-$0.75; adjusted loss per share ($4.02)-($4.41).
Net sales ~$454-456M, down ~10% YoY; operating loss margin (14.2%)-(15.6%).
Blames macro challenges for core customers, higher input costs ($125M total burden from cotton, airfreight, container costs).
Input cost relief in 2023: cotton down ~40%, container costs near pre-pandemic, airfreight eliminated; expects back-half operating margin >10%.
New CFO Sheamus Toal highlighted; inventory up only 5.5-6.5% YoY vs 24% at Q3 end, healthier position.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Childrens Place, Inc. reported the fiscal quarter ended January 28, 2023 results: revenue approximately $454 million to $456 million, net income ($52) million to ($57) million, EPS ($4.24) to ($4.63). Guidance lowered.

Period: the fiscal quarter ended January 28, 2023
Revenue: approximately $454 million to $456 million
Net income: ($52) million to ($57) million
EPS: ($4.24) to ($4.63)
Guidance: lowered
Result: preliminary results

Exact text from the filing

closing process and its independent audit, the Company now expects to report the following results for the fourth quarter of 2022: • Net sales are expected to be approximately $454 million to $456 million, versus the Company’s prior guidance of $460 million at the low end, and down approximately $52 million to $54 million, or down approximately 10.2% to 10.6%,

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Source: SEC EDGAR

accession 0001104659-23-010934

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