PLCE - Why The Children's Place Stock Popped Today
Shares of The Children's Place (NASDAQ: PLCE) popped as much as 11% Thursday morning after the company reported fiscal third-quarter earnings. The results topped analyst expectations, but management warned of challenges ahead. As of 12:45 p.m. EST, the stock was up 6%.
Revenue in the third quarter came in at $425.6 million, topping the consensus estimate of $392.1 million. That resulted in adjusted net income of $21.1 million, or $1.44 per share, which was also well ahead of the $0.46 per share in adjusted profits that Wall Street analysts were modeling for.
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Why The Children's Place Stock Popped Today