Children's Place Q2 loss widens; back-half EPS guidance $5.00-$5.25

Childrens Place, Inc.

2023-Q2 EPS reported -$5.16 revenue$667,239,000

Q2 net sales $345.6M, down 9.3% YoY; GAAP EPS ($2.82) vs ($1.01) prior year.
Adjusted EPS ($2.12) vs ($0.89) in Q2 2022; adjusted gross margin 25.4% vs 30.2%.
Inventory down 12.9% to $537M; $348M outstanding on revolving credit facility as of July 29.
Back-half 2023 adjusted EPS guidance $5.00-$5.25 on ~12.8M shares; full-year EPS $1.00-$1.25.
Planning to close 80-100 stores in 2023; ended Q2 with 596 stores.

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 second quarter ended July 29, 2023 results: revenue $345.6 million, net income $(35.4) million, or ($2.82) per diluted share, EPS ($2.82) per diluted share. Guidance initiated.

Period: the second quarter ended July 29, 2023
Revenue: $345.6 million
Net income: $(35.4) million, or ($2.82) per diluted share
EPS: ($2.82) per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Net sales decreased $35.3 million, or 9.3%, to $345.6 million in the three months ended July 29, 2023, compared to $380.9 million in the three months ended July 30, 2022.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Childrens Place, Inc. reported the back half of 2023 results: net income adjusted EPS in the range of $5.00-$5.25, EPS adjusted EPS in the range of $5.00-$5.25. Guidance initiated.

Period: the back half of 2023
Net income: adjusted EPS in the range of $5.00-$5.25
EPS: adjusted EPS in the range of $5.00-$5.25
Guidance: initiated
Result: guidance update

Exact text from the filing

Expects Adjusted EPS in the Range of $5.00-$5.25 for the Back Half of 2023

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Childrens Place, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-092844

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