Petco Reports Fourth Quarter and Full Year 2024 Results

Friday 11th of April 2025 20:30:00

The Children's Place Reports Fourth Quarter and Full Year 2024 Results

Pleasanton, CA, April 11, 2025 (GLOBE NEWSWIRE) -- The Children's Place, Inc. (Nasdaq: PLCE) today announced its financial results for the fourth quarter and full year ended January 29, 2025.

Fourth Quarter Highlights:

  • Net sales decreased 12.6% to $183.6 million compared to $209.2 million in the fourth quarter of 2023.
  • Comparable store sales decreased 14.1% compared to a 3.2% increase in the fourth quarter of 2023.
  • Gross margin decreased 440 basis points to 45.6% compared to 50.0% in the fourth quarter of 2023.
  • Operating income was $15.6 million compared to $34.1 million in the fourth quarter of 2023.
  • Net income was $11.3 million, or $0.45 per diluted share, compared to $23.5 million, or $0.92 per diluted share, in the fourth quarter of 2023.

Full Year Highlights:

  • Net sales decreased 8.4% to $744.4 million compared to $810.8 million in 2023.
  • Comparable store sales decreased 9.3% compared to a 2.3% increase in 2023.
  • Gross margin decreased 330 basis points to 47.1% compared to 51.4% in 2023.
  • Operating income was $53.1 million compared to $94.3 million in 2023.
  • Net income was $38.4 million, or $1.53 per diluted share, compared to $64.2 million, or $2.54 per diluted share, in 2023.

"We are pleased to report that our fourth quarter and full year results were in line with our expectations, despite the challenging retail environment," said Jane Elfers, President and Chief Executive Officer. "We are focused on driving growth and improving profitability through our strategic initiatives, including our omnichannel investments and efforts to enhance our customer experience."

The company also announced that it has updated its guidance for the first quarter of 2025. Net sales are expected to be in the range of $215 million to $225 million, compared to $245.6 million in the first quarter of 2024. Comparable store sales are expected to decrease 8% to 10% compared to a 4.6% increase in the first quarter of 2024. Gross margin is expected to be in the range of 47.5% to 48.5% compared to 50.2% in the first quarter of 2024. Operating income is expected to be in the range of $15 million to $20 million compared to $34.6 million in the first quarter of 2024. Net income is expected to be in the range of $10 million to $15 million, or $0.40 to $0.60 per diluted share, compared to $23.1 million, or $0.92 per diluted share, in the first quarter of 2024.

The Children's Place will host a conference call to discuss its fourth quarter and full year 2024 results on April 11, 2025 at 5:00 p.m. Eastern Time. The call will be webcast live at the company's website, and a replay will be available following the call. To access the replay, please visit the company's website and click on the "Investor Relations" section.