The Children’s Place updates fiscal 2016

Children’s specialty apparel retailer The Children’s Place has updated its outlook for fiscal 2016 and now expects adjusted diluted EPS to be in the range of $5.10 to $5.15 as against its previous guidance for adjusted diluted EPS of $5.00 to $5.05.

This guidance assumes a comparable retail sales increase of approximately 5 per cent for the fiscal.

According to the retailer, this guidance excludes net charges of approximately $0.2 million as of the end of the third quarter, primarily related to asset impairment charges.

Children’s Place also updated the outlook for the fourth quarter of fiscal 2016 and now expects adjusted diluted EPS to be in the range of $1.53 and $1.58, compared to the prior guidance for adjusted diluted EPS of $1.43 to $1.48.

“This guidance assumes a comparable retail sales rise of around 6-7 per cent for the fourth fiscal quarter vis-à-vis a 6.7 per cent increase in the fourth quarter of prior fiscal,” the company informed.