Children's Place declares financial report for Q2 & six-month results
18 Aug '05
2 min read
Leading children's merchandise specialty retailer The Children's Place reported financial results for the second quarter and six months ended July 30, 2005.
"Company second quarter financial results reflect improved performance at The Children's Place and better than expected operating results at Disney Store," said Ezra Dabah, Chairman and Chief Executive Officer of The Children's Place. "The Children's Place is positioned for continued growth and success, while at the Disney Store, their strategic initiatives are gaining traction, giving us further confidence in the profitable growth potential of this brand."
The Company stated that it now anticipates consolidated fiscal 2005 earnings in the range of $2.20 to $2.30 per share, compared to previously issued guidance of $2.15 to $2.25 per share. While the Company typically does not provide quarterly guidance, it stated that third quarter consolidated earnings per share are anticipated in the range of $0.86 to $0.91, and fourth quarter consolidated earnings are anticipated to be in the range of $1.61 to $1.66, reflecting a redistribution of the Disney Store's anticipated first year contribution to earnings. The Company continues to believe that Disney Store's fiscal 2005 contribution to earnings will be approximately $0.30 per share.
The Children's Place will host a webcast of its second quarter conference call today at 9:00 a.m., Eastern Time. Interested parties are invited to listen to the call at the Company's web site. An archive of the webcast will be available on the site through Thursday, August 25, 2005.
The Children's Place Retail Stores Inc, is a leading specialty retailer of children's merchandise. The Company designs, contracts to manufacture and sells high-quality, value-priced merchandise under the proprietary "The Children's Place" and licensed "Disney Store" brand names. As of July 30, 2005, the Company owned and operated 768 The Children's Place stores and 307 Disney Stores in North America and its online store.
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