US: The Children's Place Q1 profit jumps 22%
The Children's Place Retail Stores Inc has reported a 22% jump in first quarter profit thanks to higher sales and cost cutting measures.
Income rose to $23.7m, or $0.80 per share, from $19.4m, or $0.66 per share, a year earlier.
Excluding restructuring costs, financing fees and an asset impairment charge, earnings were $21.8m, or $0.74 per share, the company said.
Net sales were up 0.4% to $401.9m from year's $400.2m, and comparable retail sales, which include online sales, increased 1%.
Interim CEO Chuck Crovitz said the company delivered "a solid performance in the first quarter, particularly in light of the market volatility and negative industry trends."
He added: "Comparable retail sales increased as our trend-right fashion at great value prices resonated well with customers."
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The following is a general roundup of US apparel and shoe chains' October 2009 sales results. The list will be updated as new results become available....
Apparel retailer The Children's Place Retail Stores has appointed director Norman Matthews as chair of the company's board of directors....
The following is a general roundup of US apparel and shoe chains' September 2009 sales results. The list will be updated as new results become available....
The economic environment, foreign exchange rates and tough comparisons with last year have pushed The Children's Place Retail Stores Inc to a second quarter loss....
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