Friday, August 24, 2018

Children's Place sales jump 20% as it preys on competitors

Retail Dive
The Children's Place barreled through its second quarter and back-to-school season, posting a 20.1% year-over-year spike in net sales, which totaled $448.7 million, according to a company release. Comparable sales were up 13.2% in Q2, partly due to a strong traffic increase at its brick-and-mortar stores and digital sales increases.

Net income in Q2 fell by nearly half, to $7.5 million, partly from costs related to the children apparel retailer's "transformation" efforts, while operating income more than tripled to $10 million. . . . more