Children’s Place reports preliminary partial Q4 net sales results

The Children’s Place (PLCE) announced preliminary partial fourth quarter net sales results for the six-week period starting on November 3, 2024 and ending December 14, 2024. Net sales for the six-week period starting on November 3, 2024 and ending December 14, 2024 increased 3.4%, compared to the six-week period starting on October 29, 2023 and ending December 9, 2023, which, represents a year-over-year increase, and does improve on the year-to-date trend experienced during the third quarter of fiscal 2024. In terms of channel sales results during the reported six-week period, the Company experienced a decrease in brick-and-mortar revenue due to a lower store count and a smaller than expected decrease in e-commerce revenue as the Company has continued to rationalize its unprofitable promotional strategies, but these decreases were offset by an increase in wholesale revenue. Comparable retail sales decreased 8.9% for the six-week period starting on November 3, 2024 and ending December 14, 2024, as compared to the six-week period starting on October 29, 2023 and ending December 9, 2023, largely driven by decreases in e-commerce revenue, as the Company proactively sacrificed unprofitable sales to improve profitability.