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Children's Place fiscal Q1 profit falls 19.2% YOY

Children's Place Inc. said its normalized net income for the fiscal first quarter ended May 3 amounted to 63 cents per share, compared with the S&P Capital IQ consensus estimate of 61 cents per share.

EPS decreased 16.0% year over year from 75 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $14.1 million, a decline of 19.2% from $17.5 million in the year-earlier period.

The normalized profit margin dropped to 3.1% from 4.1% in the year-earlier period.

Total revenue decreased year over year to $410.1 million from $423.2 million, and total operating expenses decreased year over year to $387.5 million from $395.2 million.

Reported net income declined 29.3% on an annual basis to $13.7 million, or 61 cents per share, from $19.3 million, or 83 cents per share.