Why Children's Place Shares Are Plunging Today
Portfolio Pulse from Shivani Kumaresan
Children's Place Inc (NASDAQ:PLCE) reported a Q1 FY23 sales decline of 11.2% YoY to $321.64 million, missing the consensus of $338.46 million. The company lowered its FY23 sales and adjusted EPS outlook, citing significant macro-economic headwinds.
May 24, 2023 | 12:46 pm
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Children's Place reported lower Q1 FY23 sales and lowered its FY23 outlook, causing its stock price to plunge.
Children's Place reported an 11.2% YoY decline in Q1 FY23 sales, missing the consensus. The company also lowered its FY23 sales and adjusted EPS outlook due to significant macro-economic headwinds. This negative news is likely to cause a short-term decline in the stock price.
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