Children's Place

Children’s Place reported fourth-quarter profit and sales that topped estimates as it continues to downsize its store footprint.

The Children’s Place is approaching its critical fourth quarter with caution as it deals with a range of factors, from “historically low demand” for holiday dress-up to rising COVID-19 cases to added delivery costs.

Children’s Place reported a wider-than-expected loss and a 12% sales decline for its second quarter amid a decrease in back-to-school spending that started in July. 

Children’s Place Inc. plans to reduce its store network by a third.

The Children’s Place is beginning to reopen its stores as the COVID-19 pandemic continues to take a toll on its revenue.

The Children's Place Inc. is the latest retailer to furlough employees and take other measures to boost financial flexibility as it extends store closures indefinitely amid the COVID-19 pandemic. 

The Gymboree brand has been revived — by a former competitor. 

The Children’s Place is the latest retailer to say heavy promotions and bad weather hurt its fourth-quarter results.

The company’s net earnings in the quarter ended Feb. 1 dropped 18% to $15.7 million, from $19.1 million in the year-ago period, which had an extra week. It reported net sales of $467.5 million for the quarter, down from $509.2 million in the year-ago period. Same-store sales declined 4.3%.