Children’s Place Inc. warned Monday of a surprise large fiscal fourth-quarter loss, citing a an unexpected deterioration in gross margin due primarily to a “far more challenging” economic environment than previously anticipated. The children’s apparel retailer’s stock PLCE was still inactive in premarket trading. The company said it now expects adjusted per-share losses, which excludes nonrecurring items, of $4.02 to $4.
The company said it now expects adjusted per-share losses, which excludes nonrecurring items, of $4.02 to $4.41, compared with previous guidance for earnings per share of 50 cents to 75 cents, and with the FactSet consensus of 55 cents. Sales are expected to be $454 million to $456 million, compared with the FactSet consensus of $468 million.
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