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The Children's Place updates Q4 outlook

By Prachi Singh

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The Children's Place expects to achieve results in the upper end of the guidance range for both fourth quarter fiscal 2014 comparable retail sales, previously guided to increase low single digits, and adjusted net income per diluted share, previously guided to be between 0.83 dollars and 0.93 dollars.

Informed, Jane Elfers, President and Chief Executive Officer, “We are updating our fourth quarter guidance for comparable retail sales and adjusted EPS. Customer reaction to our Spring merchandise has been strong and our inventories are in excellent shape entering 2015, with a significant decline in carryover inventory.”

“In addition, our Board has authorized a new 100 million dollars share repurchase, reflecting our company's commitment to return excess capital to our shareholders. Over the past five years, we have returned over 487 million dollars to our shareholders through share repurchases and dividends. This new authorization reflects our confidence in our ability to execute our growth strategies,” Elfers added.

The Children's Place