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Children's Place fiscal Q2 loss widens YOY

Children's Place Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 came to a loss of 36 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 45 cents per share.

The per-share loss increased 6.4% year over year from 34 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $7.8 million, compared with a loss of $7.6 million in the year-earlier period.

The normalized profit margin dropped to negative 2.0% from negative 2.0% in the year-earlier period.

Total revenue came to $384.6 million, compared with $382.4 million in the year-earlier period, and total operating expenses totaled $397.1 million, compared with $394.6 million in the prior-year period.

Reported net income came to a loss of $10.7 million, or a loss of 49 cents per share, compared to a loss of $23.6 million, or a loss of $1.05 per share, in the prior-year period.