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Children's Place Retail Stores positive post Q2 results

Aug. 17, 2016 7:35 AM ETThe Children's Place, Inc. (PLCE) StockBy: Niloofer Shaikh, SA News Editor
  • Children's Place Retail Stores (NASDAQ:NASDAQ:PLCE) reports comparable retail sales  increased 2.4% in Q2.
  • Adjusted gross margin rate improved 200 bps to 33.4% due to merchandise margin and fixed cost leverage and a higher AUR.
  • Adjusted SG&A expense rate dropped 50 bps to 29.1% due to decreased store and administrative expenses.
  • Store count -22 Y/Y to 1,064.
  • Q3 Guidance: Comparable retail sales: to increase in low single digits; Adjusted EPS: $1.93 to $2.01.
  • FY2016 Guidance: Comparable retail sales: low single digit increase; Adjusted EPS: $4.60 to $4.70.
  • PLCE +2.78% premarket.

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