Children’s Place reported net income of $34.1 million ($1.23 Diluted EPS) for the fourth quarter ended Jan 31, a 12% decrease from a year ago. Net sales rose 4.8% to $462.8 million, while same-store sales were flat. Commenting on the results, President and CEO Jane Elfers said “We have been working to identify and begin implementation on five key growth initiatives: (1) strengthening the merchandise, (2) accelerating new store growth with a focus on value centers, (3) optimizing inventory management, (4) sharpening our marketing message and (5) driving e-commerce growth,” Elfers continued. “Over the past two years, the management team has done a great job of strengthening operational efficiencies and managing expenses in a difficult economic environment. This gives us a solid base upon which to build our business going forward.”
