Children's Place Q1 GAAP EPS loss of $2.33; revenue down 11%; cuts FY outlook

Childrens Place, Inc.

2023-Q1 EPS reported -$2.33 revenue$321,640,000

Q1 net sales $321.6M, down 11.2% YoY; comp retail sales fell 8.2%.
GAAP net loss $28.8M ($2.33/sh) vs net income $19.8M ($1.43/sh) last year; adjusted EPS loss $2.00.
Gross margin contracted 920 bps to 30.0% on higher input costs and fixed-cost deleverage.
Q2 outlook: net sales $340-345M (-10% YoY); adjusted net loss per share ($2.15)-($2.20).
FY2023 net sales now $1.575-1.590B (high-single-digit decline); adjusted EPS $1.00-1.50 vs prior $5.00+ back-half target.

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 0.95

Childrens Place, Inc. reported the first quarter ended April 29, 2023 results: revenue $321.6 million, net income Net loss was $28.8 million, or ($2.33) per share, EPS ($2.33) per share. Guidance lowered.

Period: the first quarter ended April 29, 2023
Revenue: $321.6 million
Net income: Net loss was $28.8 million, or ($2.33) per share
EPS: ($2.33) per share
Guidance: lowered
Result: reported results

Exact text from the filing

last year, we continue to expect to deliver double digit operating margin in the back half of 2023.” First Quarter 2023 Results Net sales decreased $40.8 million, or 11.2%, to $321.6 million in the three months ended April 29, 2023, compared to $362.4 million in the three months ended April 30, 2022. The decrease in net sales was primarily due to the combination of

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Source: SEC EDGAR

accession 0001104659-23-063865

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