Children's Place (NASDAQ: PLCE) shares are trading lower after the company reported worse-than-expected third-quarter sales results. The company also issued fourth-quarter EPS and sales guidance below analyst estimates.
Children's Place reported quarterly earnings of $3.03 per share, which beat the analyst consensus estimate of $3.02. This is a 1.3% decrease over earnings of $3.07 per share from the same period last year.
The company reported quarterly sales of $524.796 million, which missed the analyst consensus estimate of $534.09 million by 1.74%. This is a 0.44% increase over sales of $522.495 million the same period last year.
The Children's Place sees fourth-quarter adjusted EPS $1.48-$1.68 versus the $2.06 analyst estimate and sales of $504-$509 million versus $555.13 million estimate.
Children's Place shares were trading down 15.03% at $60.04 in Wednesday’s pre-market session. The stock has a 52-week high of $116.84 and a 52-week low of $67.33