BeaconEquity.com announces the publication of ‘Children's Place Retail Stores Inc. (PLCE) Turns to Profit in Q2, Cost Cuts and Stronger Internet Sales Cited’
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Children's Place Retail Stores Inc. (PLCE) Turns to Profit in Q2, Cost Cuts and Stronger Internet Sales Cited
”With the U.S. economic growth - or lack of it, Children’s Place Retail Stores Inc., like many retailers, has suffered from a tough economic environment. While loosening their purse strings, U.S. consumers are keeping their spending tight in general, and are largely selective about purchases. For the Seacaucus, New Jersey-based specialty retailer of clothing and accessories for kids, this would mean reduced spending and cutting jobs for survival Several months ago, Children's Place decided to exit the Disney Store North America business…
“Things turned out to be positive; several months later, Schaeffer's Research indicated that the stock is on the ascent. An analyst at Sterne Agee has said all the actions they have announced are positive, most importantly the exit from the Disney Store…
“For the second quarter and fiscal year-to-date ended August 2, 2008, Children's Place Retail Stores Inc. said Thursday cost cuts and stronger Internet sales helped it swing to a profit in the fiscal second quarter and easily beat analyst estimates. The company reported second quarter net income of $11 thousand or breakeven per share, compared to net loss of $28.09 million or 97 cents per share last year…”
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