SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of The Children’s Place, Inc. (PLCE)
NEW YORK, NY / ACCESSWIRE / December 6, 2018 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of The Children's Place, Inc. ("Children's Place" or the "Company") (PLCE). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/plce.
The investigation concerns whether Children's Place and certain of its officers and/or directors have violated federal securities laws.
On December 6, 2018, the Children's Place cut its earnings and margin outlook. Market Watch reported the Company's "net income for the quarter to Nov. 3 rose to $49.9 million, or $3.03 a share, from $44.1 million, or $2.44 a share, in the same period a year ago.Excluding non-recurring items, adjusted earnings per share of $3.07 matched the FactSet consensus. Sales increased 6.6% to $522.5 million, above the FactSet consensus of $511.2 million, as the 9.5% rise in same-store sales beat expectations of 8.3% growth. The company cut its fiscal 2018 adjusted EPS outlook to $7.69 to $7.79 from $8.09 to $8.29, and its adjusted operating margin guidance to 7.7% to 7.8% from 8.5% to 8.7%, as a result of a $5 million, or 24 cents a share, addition to fulfillment costs in the fourth quarter to support the exposure of brick-and-mortar inventory on-line and its ship-from-store capabilities. Meanwhile, the company raised its full-year sales outlook to $1.955 billion to $1.960 billion from $1.945 billion to $1.955 billion." Following this news, Children's Place stock dropped sharply during intra-day trading on December 6, 2018.
If you are aware of any facts relating to this investigation, or purchased Children's Place shares, you can assist this investigation by visiting the firm's site: bgandg.com/plce. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
