Adjusted EPS reported for the first quarter of 2016 was $1.32 as compared to $0.83 in the first quarter of the previous year, ended May 2, 2015. Net sales posted for the quarter was $419.4 million as compared to $404.9 million previously. Gross profit was $165.4 million as compared to $152.1 million previously.
Comparable retail sales increased 5.1 per cent in the quarter, with all three months of the quarter posting positive results.
In line with the positive results, Jane Elfers, president and CEO of the Children’s Place said, “We are raising our guidance for the full-year, despite the challenging environment and continued weakness in store traffic.”
“This guidance assumes a low single digit comp sales increase, expansion of gross margin and disciplined expense control,” Elfers added.
The Children’s Place raised 2016 adjusted EPS guidance to $4.17-$4.27 from the previous guidance of $4.00-$4.10. (MCJ)
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