The Children's Place(US:PLCE) Newsfilterยท2024-12-17 13:30Core Viewpoint - The Children's Place, Inc. reported a preliminary increase in net sales for the six-week period ending December 14, 2024, indicating a positive year-over-year trend despite challenges in brick-and-mortar and e-commerce channels [2][3]. Sales Performance - Net sales for the six-week period increased by 3.4% compared to the same period in the previous year, reflecting an improvement over the year-to-date trend from the third quarter of fiscal 2024 [2]. - Comparable retail sales decreased by 8.9% during the same period, primarily due to a decline in e-commerce revenue as the company focused on improving profitability by sacrificing unprofitable sales [3]. Channel Sales Results - The company experienced a decrease in brick-and-mortar revenue attributed to a lower store count, while e-commerce revenue saw a smaller than expected decline due to the rationalization of unprofitable promotional strategies [2]. - An increase in wholesale revenue helped offset the declines in other channels [2]. Preliminary Results - The reported net sales results are preliminary and unaudited, based on estimates and assumptions that may change before the final financial results for the fiscal year ending February 1, 2025 [4].