Home / Knowledge / News / Apparel/Garments / The Children's Place approves $100mn share repurchase
The Children's Place approves $100mn share repurchase
06
Mar '14
The Children's Place Retail Stores, Inc., the largest pure-play children's specialty apparel retailer in North America, announced that its Board of Directors has instituted a quarterly dividend and has approved a $100 million share repurchase authorization as part of the Company's strategy to return excess capital to shareholders.
 
Jane Elfers, President and Chief Executive Officer, commented, "The Children's Place has a profitable business model which generates strong cash flow. Over the past five years, we have returned over $400 million to shareholders through share repurchases. The initiation of a quarterly dividend and the new share repurchase authorization reflect our confidence in our ability to execute on our growth strategies and our continuing commitment to return excess capital to shareholders."
 
The Board authorized a quarterly cash dividend of $0.1325 per share to be paid April 17, 2014 for shareholders of record at the close of business on March 27, 2014. The quarterly dividend is the first for The Children's Place since becoming a public company in 1997. Future declarations of quarterly dividends and the establishment of future record and payment dates are subject to approval by the Company's Board of Directors based on a number of factors, including business and market conditions, the Company's future financial performance and other investment priorities.
 
The share repurchase authorization announced today permits the Company to repurchase shares in the open market at current market prices at the time of purchase or in privately negotiated transactions.
 
The timing and actual number of shares repurchased under the program will depend on a variety of factors including price, corporate and regulatory requirements, and other market and business conditions, and the Company may suspend or discontinue the program at any time, and may thereafter reinstitute purchases, all without prior announcement.
 
In conjunction with the expanded capital return program, the Company amended its existing credit facility to increase its line of credit to $200 million from $150 million and to permit dividend payments on the same basis as stock repurchases. It also extended the agreement an additional year to August 2018.
 
About The Children's Place Retail Stores, Inc.
The Children's Place is the largest pure-play children's specialty apparel retailer in North America. The Company designs, contracts to manufacture, sells and licenses to sell fashionable, high-quality merchandise at value prices, primarily under the proprietary "The Children's Place," "Place" and "Baby Place" brand names.

The Children's Place


Must ReadView All

Textiles | On 24th May 2016

Govt withdraws Bt cotton notification

The Union government has withdrawn the notification on guidelines for ...

Textiles | On 24th May 2016

Pak textile bodies seek tax exemptions in Budget

Ahead of the Budget next month, the All Pakistan Textile Mills...

Courtesy: Ecommerce Forum

Apparel/Garments | On 24th May 2016

Italian e-commerce to generate over 19 bn euros in 2016

E-commerce in Italy is expected to grow 17 per cent in 2016 to...

Interviews View All

Claudia Kersten
Global Organic Textile Standard

What benefits can MSMEs have from GOTS certification? What is the...

Jurgen Gauger
Spreadshirt

How is the market for personalised prints on garment shaping up? What are...

Milind Khandwe
Hindoostan Innovation Centre

Which areas of innovation is the Hindustan Innovation Centre (HIC) focused ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Giorgio Mantovani
Corman S.p.A

<b><i>Giorgio Mantovani, MD of Corman, with a presence in both Milano and...

Ashok Desai
Bombay Textile Research Association

<b><i>Bombay Textile Research Association (BTRA) is a leading name in...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
May 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search