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PLCE - The Children's Place Stock Plummets With Net Sales Down 25% in 2020
Children's Place Inc. (The)
Shares of apparel company The Children's Place(NASDAQ: PLCE) plummeted on Tuesday, after the company reported results for the second quarter of 2020. Net sales dropped 12% for the quarter and are down 25% so far in 2020. But investors are likely more concerned that the upcoming third quarter is still being negatively impacted by the COVID-19 pandemic.
As of 10:15 a.m. EDT, The Children's Place stock was down 19% for the day, and it's now down 80% from 52-week highs.