The Business of Fashion
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SECAUCUS, United States — The Children's Place Retail Stores Inc. on Tuesday reported a loss of $13.7 million in its fiscal second quarter.
On a per-share basis, the Secaucus, New Jersey-based company said it had a loss of 67 cents. Losses, adjusted for one-time gains and costs, came to 33 cents per share.
The results matched Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for a loss of 33 cents per share.
The children's clothing and accessories chain posted revenue of $366.5 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $381.7 million.
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For the current quarter ending in November, The Children's Place expects its per-share earnings to range from $1.90 to $1.96. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.97.
The company expects full-year earnings in the range of $3.35 to $3.45 per share.
The Children's Place shares have risen slightly since the beginning of the year. The stock has risen slightly more than 5 percent in the last 12 months.
