Children's Place Cost-Cutting Progress Gets Markets' Praise -- Market Talk

Dow Jones

2024-09-20

1221 ET - Children's Place made surprising progress reducing expenses in 2Q, driving UBS estimates higher. The children's clothing retailer will likely see revenue decline through the first quarter of fiscal 2025 as a result of ongoing impact of the cost savings activities and a tough competitive environment for children's apparel. However, the company should see a surge in profit in the next three years, including fiscal 2024. UBS raises its earnings per share target price to $2.65 from 55 cents previously for fiscal 2024, its fiscal 2025 EPS to $2.70 from $1.10 previously, and its FY26 EPS to $2.80 from $1.60. UBS also lifts its target price to $18 from $12 previously. Shares rise 9.6% to $16.50. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

September 19, 2024 12:21 ET (16:21 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"PRGS":"Progress Software Corporation","BK4094":"服装零售","LU2065732104.USD":"ALLSPRING (LUX) WF GLOBAL SMALL CAP EQUITY \"I\" (USD) ACC","PLCE":"儿童之家","BK4097":"系统软件"},"translate_title":"儿童场所成本削减进展获得市场好评——Market Talk","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PLCE":1,"PRGS":1},"content_text":"1221 ET - Children's Place made surprising progress reducing expenses in 2Q, driving UBS estimates higher. The children's clothing retailer will likely see revenue decline through the first quarter of fiscal 2025 as a result of ongoing impact of the cost savings activities and a tough competitive environment for children's apparel. However, the company should see a surge in profit in the next three years, including fiscal 2024. 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