Children's Place Q3 adjusted EPS $2.04, sales -18.8%, gross margin up 180 bps

Childrens Place, Inc.

2024-Q3 EPS reported -$3.91 revenue$977,706,000

GAAP net income $20.1M ($1.57 diluted) vs $38.5M ($3.05) YoY; adjusted net income $26.1M ($2.04 diluted).
Net sales decreased 18.8% to $390.2M; comparable retail sales down 17.1%.
Gross margin rate improved 180 bps to 35.5%; adjusted SG&A lowest in 15 years for Q3 at $93.8M.
Total liquidity $94M; opened first new Gymboree store in over 2 years; new SHEIN partnership.
Nine-month adjusted operating income $44.4M vs $1.6M loss YoY; GAAP net loss $49.8M.

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