The Children's Place Q4 FY19 net income grows to $24 mn

The Children's Place, a children's specialty apparel retailer, has reported its sales decreased 3.5 per cent to $1.871 billion (FY18: $1.938 billion) in fiscal 2019 ended on February 1, 2020. Sales decreased 3.3 per cent in fourth quarter (Q4) FY19 to $513.0 million (Q4 FY18: $530.6 million). Net income in Q4 grew to $24.2 million (Q4 FY18: 12 million).

 

The Children's Place, a children's specialty apparel retailer, has reported its sales decreased 3.5 per cent to $1.871 billion (FY18: $1.938 billion) in fiscal 2019 ended on February 1, 2020. Sales decreased 3.3 per cent in fourth quarter (Q4) FY19 to $513.0 million (Q4 FY18: $530.6 million). Net income in Q4 grew to $24.2 million (Q4 FY18: 12 million).#

Net income over the year fell to $73.3 million compared to $101.0 million prior year. Gross profit was $655.3 million in FY19 compared to $683.6 million prior year. Selling, general, and administrative (SG&A) expenses were $478.1 million compared to $498.3 million prior year. Operating income declined to $96.4 million compared to $111.3 million prior year.

 

The Children's Place, a children's specialty apparel retailer, has reported its sales decreased 3.5 per cent to $1.871 billion (FY18: $1.938 billion) in fiscal 2019 ended on February 1, 2020. Sales decreased 3.3 per cent in fourth quarter (Q4) FY19 to $513.0 million (Q4 FY18: $530.6 million). Net income in Q4 grew to $24.2 million (Q4 FY18: 12 million).#

Gross profit grew marginally to $166.4 million during the quarter compared to $164.3 million in same period prior year. SG&A expenses were $113.2 million (Q4 FY18: $132.5 million). Operating income jumped to $29.5 million (Q4 FY18: $13.6 million).

 

The Children's Place, a children's specialty apparel retailer, has reported its sales decreased 3.5 per cent to $1.871 billion (FY18: $1.938 billion) in fiscal 2019 ended on February 1, 2020. Sales decreased 3.3 per cent in fourth quarter (Q4) FY19 to $513.0 million (Q4 FY18: $530.6 million). Net income in Q4 grew to $24.2 million (Q4 FY18: 12 million).#

The company reported that it opened two stores and closed 33 stores in fourth quarter. The company ended the quarter with 924 stores and square footage of 4.3 million, a decrease of 4.0 per cent compared to prior year. 

 

The Children's Place, a children's specialty apparel retailer, has reported its sales decreased 3.5 per cent to $1.871 billion (FY18: $1.938 billion) in fiscal 2019 ended on February 1, 2020. Sales decreased 3.3 per cent in fourth quarter (Q4) FY19 to $513.0 million (Q4 FY18: $530.6 million). Net income in Q4 grew to $24.2 million (Q4 FY18: 12 million).#

As a result of the heightened uncertainty regarding the evolving covid-19 pandemic, the company is deferring its fiscal 2020 financial guidance, as reported. "While we are in an uncertain period, the underlying fundamentals of our business are strong. We are confident that our management team will continue to focus on and execute against our key strategic growth initiatives, uniquely positioning us to continue to capture profitable market share," Jane Elfers, president and chief executive officer, said in a press release.