The Children's Place, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended July 29, 2023
August 17, 2023 at 07:00 am EDT
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The Children's Place, Inc. reported earnings results for the second quarter and six months ended July 29, 2023. For the second quarter, the company reported sales was USD 345.6 million compared to USD 380.89 million a year ago. Net loss was USD 35.36 million compared to USD 13.3 million a year ago. Basic loss per share from continuing operations was USD 2.82 compared to USD 1.01 a year ago. Diluted loss per share from continuing operations was USD 2.82 compared to USD 1.01 a year ago.
For the six months, sales was USD 667.24 million compared to USD 743.24 million a year ago. Net loss was USD 64.19 million compared to net income of USD 6.53 million a year ago. Basic loss per share from continuing operations was USD 5.16 compared to basic earnings per share from continuing operations of USD 0.49 a year ago. Diluted loss per share from continuing operations was USD 5.16 compared to diluted earnings per share from continuing operations of USD 0.48 a year ago.
The Children's Place, Inc. is an omni-channel childrenâs specialty portfolio of brands with an industry-leading digital-first model. The Company designs, contracts to manufacture, and sell fashionable apparel, accessories, and footwear primarily under its proprietary brands: The Childrenâs Place, Gymboree, Sugar & Jade, and PJ Place. Its segments include The Childrenâs Place U.S. and The Childrenâs Place International. The Childrenâs Place U.S. segment includes the United States and Puerto Rico-based stores. The Childrenâs Place International segment includes Canadian based wholesale business, as well as international franchisees. Its global retail and wholesale network includes two digital storefronts, more than 500 stores in North America, wholesale marketplaces and distribution in 16 countries through six international franchise partners. Its merchandise is also available online at www.childrensplace.com and www.gymboree.com.