The Children's Place(PLCE) - 2021 Q1 - Earnings Call Presentation

Company Overview - The Children's Place is the 1 pure-play children's specialty apparel retailer in North America, with $1.5 billion in revenue in fiscal year 2020[6] - As of May 1, 2021, the company operated 724 stores in the United States, Canada, and Puerto Rico[8] - E-commerce represented approximately 53% of sales in fiscal year 2020 and approximately 42% of sales for year-to-date fiscal year 2021[8] Financial Performance (Q1 2021 Adjusted Results) - Net sales increased by 70.6% from $255.2 million in Q1 2020 to $435.5 million in Q1 2021[12] - Gross profit margin increased by 2,571 basis points from 17.7% in Q1 2020 to 43.4% in Q1 2021[12] - Operating income was $70.7 million in Q1 2021, a 4,168 basis point increase compared to an operating loss of $64.9 million in Q1 2020[12] - Net income was $48.7 million in Q1 2021, a 3,028 basis point increase compared to a net loss of $48.7 million in Q1 2020[12] - EPS was $3.25 in Q1 2021, compared to ($3.33) in Q1 2020[12] Strategic Initiatives - The company accelerated fleet optimization, closing 474 stores since 2013, with approximately 98 additional store closures targeted in fiscal year 2021[10] - The company is targeting approximately 25% of total revenue from traditional malls entering fiscal year 2022[20, 26] - In fiscal 2020, the company achieved a 46% use of Better Cotton, surpassing the original fiscal 2022 goal of 30%, and has set a new fiscal 2025 goal to achieve 75% responsibly sourced cotton for the cotton fibers used in apparel[39]