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Children's Place posts narrower-than-expected 2nd-qtr loss
August 16, 2012 / 10:31 AM / 5 years ago

Children's Place posts narrower-than-expected 2nd-qtr loss

* Second-quarter loss/share $0.62 vs est $0.66

* Second-quarter sales $360.8 mln vs est $353.3 mln

Aug 16 (Reuters) - Children’s Place Retail Stores Inc reported a narrower-than-expected quarterly loss, helped by higher sales in the United States and Canada as well as in its e-commerce business.

Second-quarter loss widened to $18.0 million, or 74 cents per share, from $9.7 million, or 38 cents per share, a year earlier.

Excluding items, the kids clothing retailer posted a loss of 62 cents per share.

Revenue rose 5 percent to $360.8 million.

Analysts on average had expected a loss of 66 cents per share on revenue of $353.3 million, according to Thomson Reuters I/B/E/S.

Children’s Place shares, which have risen about 24 percent in the last 12 months, closed at $51.57 on Wednesday on the Nasdaq.

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