Why Children's Place Shares Are Surging Today
Portfolio Pulse from Shivani Kumaresan
Children's Place Inc (NASDAQ:PLCE) reported a Q2 FY23 sales decline of 9.3% YoY to $345.59 million, beating the analyst consensus of $342.64 million. The sales decline was due to a slowdown in consumer demand, increased promotional activity, and permanent store closures. The company narrowed its FY23 sales guidance to $1.575 billion - $1.585 billion, with an EPS of $1.00-$1.25. PLCE shares are trading higher by 9.39% at $29.00 in premarket.
August 17, 2023 | 1:14 pm
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Children's Place reported a Q2 FY23 sales decline but beat analyst consensus. The company also narrowed its FY23 sales guidance. Shares are up in premarket.
Despite a decline in Q2 sales, Children's Place beat analyst estimates and narrowed its FY23 sales guidance, which is likely driving the increase in premarket trading.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100