The Children’s Place Inc., US-based largest pure-play children’s specialty apparel retailer, has increased guidance for the fourth quarter and full-fiscal year 2016 comparable retail sales.
The updated guidance for the fourth quarter assumes a comparable retail sales increase of approximately 6 to 7 per cent for the quarter compared to a 6.7 per cent increase in the comparable period last year and previous guidance of a low single digit increase. Also, the updated full fiscal guidance assumes a comparable retail sales increase of approximately 5 per cent for the year.
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Jane Elfers, President and Chief Executive Officer, TCP announced, “Our comparable retail sales were positive 6.9 per cent through the first nine weeks of the fourth quarter, compared to positive 7.3 per cent in the comparable nine-week period in the fourth quarter last year. Based on these outstanding results, we are increasing our fourth quarter and fiscal year 2016 guidance for comparable retail sales and adjusted diluted EPS. Our strong performance is the result of consistent execution against our long term strategic growth initiatives led by a best in class management team.”
