Children’s Place Q1 income up 19%
Secaucus, N.J. Children’s Place Retail Stores said Thursday that its fiscal first-quarter net income beat rose 19% as revenue increased and raised its forecast for full-year earnings from continuing operations.
CEO Jane Elfers said the company intends to “keep a tight rein on expenses as consumer spending remains constrained by lingering weakness in the economic environment.”
Children’s Place said its net income rose to $27.9 million in the three months ended May 1, compared with $23.5 million a year ago.
Analysts polled by Thomson Reuters forecast a smaller profit.
Revenue rose 5% to $422.1 million, from $401.9 million. Wall Street analysts expected lower revenue of $417.6 million.
Same-store U.S sales fell 1.7% and dropped 4.6% in Canada. Online results were much better, surging 22%.
Children’s Place had 962 stores at quarter’s end.
Toys’R’Us raises $1.8M for Autism Speaks
WAYNE, N.J. Toys“R”Us, U.S. announced that its fourth annual nationwide in-store fundraising campaign to benefit Autism Speaks, North America’s largest autism science and advocacy organization, raised nearly $1.8 million.
“For the fourth consecutive year, our customers and employees demonstrated their desire to help solve the autism puzzle by generously supporting our campaign to benefit Autism Speaks,” said Jerry Storch, chairman and CEO of Toys“R”Us. “At Toys“R”Us, we are committed to improving the lives of children and families in need, and we’re proud that our efforts will help Autism Speaks fund much-needed research, as well as advocacy efforts.”
During the campaign, the company said it created several programs to help parents and caregivers of children with autism. In collaboration with Autism Speaks and the National Lekotek Center, a nonprofit organization dedicated to making play accessible for children with disabilities, the company identified toys that can help children with autism develop crucial skills while playing alongside siblings and friends. The “Ten Toys That Speak To Autism,” a special subset of the annual Toys“R”Us Toy Guide for Differently-Abled Kids, provides toy suggestions specifically for families and friends of children with autism. With guidance from leading safety organizations and Autism Speaks, Toys“R”Us also developed Safe Play Tips that are relevant for children with autism. The “Ten Toys That Speak To Autism” and Safe Play Tips are available year-round at Toysrus.com/AutismSpeaks.
Since the partnership launched in 2007, Toys“R”Us, the Toys“R”Us Children’s Fund and customer contributions have combined to provide Autism Speaks with more than $8.4 million.
BJ’s quarterly income up, raises FY guidance
NATICK, Mass. BJ’s Wholesale Club reported net income for the first quarter of 2010 of $26.1 million, or 49 cents per diluted share. For the first quarter of 2009, the company reported net income of $24.3 million, or 45 cents per diluted share.
Net sales for the first quarter of 2010 increased by 12.9% to $2.55 billion and comparable-club sales increased by 7.8%, including a contribution from sales of gasoline of 3.6%. Excluding the impact of gasoline, merchandise comparable-club sales increased by 4.2%. Net sales for the first quarter of 2009 increased by 0.2% to $2.26 billion and comparabl- club sales decreased by 1.5%, including the negative impact from sales of gasoline of 9%. Excluding the impact of gasoline, merchandise comparable-club sales increased by 7.5%.
The company also announced revised earnings guidance. For the year ending Jan. 29, 2011, the company now expects to report earnings per diluted share in the range of $2.58 to $2.68 and net income in the range of $136.9 million to $141.9 million. Previous guidance was for earnings per diluted share in the range of $2.54 to $2.64 and net income in the range of $133.1 million to $138.1 million.