The Children’s Place Q3 net sales reach 492.7 million dollars

REPORT_ For the third quarter The Children’s Place net

sales were 492.7 million dollars, compared to 500.9 million dollars in the third quarter of 2012. Comparable retail sales declined 0.7 percent. Net income was 41.7 million dollars, or 1.84 dollars per diluted share, in the third quarter of 2013. Adjusted net income was 42.7 million dollars, or 1.89 dollars per diluted share.

Gross profit was 201.8 million dollars. Adjusted gross profit in the third quarter of 2013 was 202.9 million dollars, and deleveraged 60 basis points to 41.2 percent of sales. The company opened 10 stores and closed three, ending the third quarter with 1123 stores. For the fourth quarter of fiscal 2013, the company is forecasting adjusted net income per diluted share will be between 0.90 dollars and 0.98 dollars.

The Children’s Place is based in New Jersey. It is the largest pure-play children’s specialty apparel retailer in North America. “We achieved the high-end of our earnings guidance as a result of strong execution of our important back-to-school period, and the continuation of disciplined expense management across the organization,” said Jane Elfers, President and Chief Executive Officer. “We are well-positioned as we enter the fourth quarter and look forward to making substantive progress on our key strategic initiatives.”