Children’s Place narrows loss in Q2; to expand into India

Secaucus, N.J. -- The Children's Place, Inc. reported a loss of $10.7 million in the quarter ended Aug. 2, compared to a loss of $23.6 million in the year-ago period. Sales edged up to $384.6 million, from $382.4 million for second quarter 2013.

Same-store sales increased 0.8%.

"Our sales improved significantly in the second quarter, reflecting a rebound in shopping activity with more normalized weather patterns,” said Jane Elfers, CEO. “While we expect the sector to remain highly promotional and the uncertainty surrounding the economy to continue, we are well positioned to compete effectively in the back half of 2014.”

Children’s Place also announced a partnership with Arvind Lifestyle Brands Limited to open stores in India. The first store openings – a total of 50 – are slated for fall 2015.

Login or Register to post a comment.