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Children's Place Retail Stores Inc. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: November 29, 2012 10:03PM

Children's Place Retail Stores Inc. (PLCE) filed Quarterly Report for the period ended 2012-10-27. Children's Place Retail Stores, Inc. has a market cap of $1.19 billion; its shares were traded at around $48.6 with a P/E ratio of 16.7 and P/S ratio of 0.7. Children's Place Retail Stores, Inc. had an annual average earning growth of 11.3% over the past 10 years.



Highlight of Business Operations:

For the Third Quarter 2012, the effects of these translation rate changes on net sales, gross profit and income before income taxes were increases of $0.7 million, $0.5 million and $0.3 million, respectively. For Year-To-Date 2012, the effects of these translation rate changes on net sales and gross profit were decreases of $2.8 million and $0.9 million, respectively, and on income before income taxes it was an increase of $0.3 million. Net sales are affected only by the Canadian dollar translation rates. In addition to the translation rate changes, the gross profit of our Canadian subsidiary is also impacted by its purchases of inventory, which are priced in U.S. dollars. The effects of these purchases on our gross profit were an increase of approximately $0.1 million during the Third Quarter 2012 and a decrease of $1.0 million during Year-To-Date 2012.

The Children s Place U.S. net sales increased $8.1 million, or 1.9%, to $424.9 million in the Third Quarter 2012 compared to $416.8 million in the Third Quarter 2011. This increase resulted from a $5.7 million increase in Comparable E-commerce Sales, a $2.7 million increase in sales from new stores and other sales that did not qualify as comparable sales, partially offset by a Comparable Store Sales decrease of 0.1%, or $0.3 million. The decrease in Comparable Store Sales was primarily due to a 1% decrease in the number of transactions mostly offset by a 1% increase in the average dollar transaction size.

The Children s Place Canada net sales increased $8.8 million, or 13.0%, to $76.1 million in the Third Quarter 2012 compared to $67.3 million in the Third Quarter 2011. This increase resulted primarily from $5.5 million of revenue from international franchisees, a $3.2 million increase in sales from new stores and other sales that did not qualify as comparable sales, a $1.2 million increase in Comparable E-commerce Sales and a $0.7 million increase resulting from favorable changes in the Canadian exchange rates partially offset by a decline in Comparable Store Sales of 2.9%, or $1.8 million. The decrease in Comparable Store Sales was primarily the result of a 4% decrease in the average dollar transaction size partially offset by a 1% increase in the number of transactions.

The Children s Place U.S. net sales increased $28.0 million, or 2.6%, to $1,119.7 million during Year-To-Date 2012 compared to $1,091.7 million during Year-To-Date 2011. This increase resulted from a $17.5 million increase in Comparable E-commerce Sales and a $15.3 million increase in sales from new stores and other sales that did not qualify as comparable sales, partially offset by a Comparable Store Sales decrease of 0.5%, or $4.8 million. The decrease in Comparable Store Sales was primarily due to a 1% decrease in the number of transactions partially offset by a 1% increase in the average dollar transaction size.

The Children s Place Canada net sales increased $13.9 million, or 8.3%, to $180.6 million during Year-To-Date 2012 compared to $166.7 million during Year-To-Date 2011. This increase resulted primarily from a $10.7 million increase in sales from new stores and other sales that did not qualify as comparable sales, $6.0 million in revenue from international franchisees and a $4.1 million increase in Comparable E-commerce Sales partially offset by a decline in Comparable Store Sales of 2.7%, or $4.1 million, and a $2.8 million decrease resulting from unfavorable changes in the Canadian exchange rates. The decrease in Comparable Store Sales was primarily the result of a 3% decrease in the average dollar transaction size.

Read the The complete Report



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