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Children's Place fiscal Q3 profit falls YOY

Children's Place Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 amounted to $1.72 per share, compared with the S&P Capital IQ consensus estimate of $1.79 per share.

In the prior-year period, the per-share result was a profit of $1.72.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $37.4 million, a decrease from $38.8 million in the prior-year period.

The normalized profit margin fell to 7.7% from 7.9% in the year-earlier period.

Total revenue declined year over year to $487.3 million from $492.7 million, and total operating expenses totaled $427.4 million, compared with $430.6 million in the year-earlier period.

Reported net income declined 11.2% on an annual basis to $37.0 million, or $1.70 per share, from $41.6 million, or $1.84 per share.