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Weather hurts Children's Place sales
The Children’s Place blamed unseasonably warm weather for its weak third quarter results and plans to close 200 stores by 2017 as part of its turnaround strategy.
For the third quarter ended Oct. 31, the retailer said same store sales fell 3%. The Children’s Place reported a profit of $38.5 million, or $1.88 a share, compared with a profit of $36.9 million, or $1.70 a share, in the prior year quarter. EPS was $1.93, up from $1.82. Sales rose 6.4% to $455.9 million.
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Christopher & Banks falls to loss in Q3
Many mall retailers have been having a tough time lately attracting shoppers, and Christopher & Banks was not immune to struggles with weak traffic in the third quarter.
The women's specialty retailer posted a net loss of $0.3 million, or 1 cent per share, for the third quarter ended Oct. 31, versus a year-ago profit of $9 million, or 24 cents per share. Net sales totaled $103.6 million, as compared to $110.6 million for the prior year. Same-store sales decreased 6.5%.

