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Children's Place Q1 profit up 4%, forecasts miss Street


Secaucus, N.J. -- The Children's Place Retail Stores reported Thursday that profit for the quarter ended April 30 rose 4% to $29.1 million, compared with $27.9 million a year earlier. The retailer cited better product assortment, strong online sales and inventory-control efforts for the improved performance.

Children’s Place also increased the low end of its full-year earnings outlook range, but its 2011 and second-quarter forecasts missed Wall Street's expectations.

Revenue for the quarter rose 2% to $430.8 million, helped by a 24% increase in online revenue. Wall Street forecast revenue of $432.1 million.

Same-store sales dropped 3.2%.

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