US kidswear retailer The Children’s Place reported widening profits and narrowing losses for FY24, ended February 1, 2025, despite net sales falling 13.5 percent to 216.2 million dollars. Over the period, gross profits increased to 459.5 million dollars compared to 445.3 million dollars in the year prior, while its gross margin rate increased to...
Apr 14, 2025
The Children’s Place is bolstering its executive team with the strategic appointments of a new chief financial officer and heads of sourcing and marketing. Effective March 31, 2025, John Szczepanski, former CFO of Vince Holding Corp. and a veteran of Ralph Lauren, will assume the role of CFO, reporting to president and interim CEO Muhammad...
Mar 18, 2025
The Children’s Place in its preliminary partial fourth quarter results statement said that net sales for the six-week increased 3.4 percent. However, comparable retail sales decreased 8.9 percent for the reporting period driven by decreases in e-commerce revenue. In terms of channel sales results during the period under review, the company...
Dec 19, 2024
The Children’s Place, Inc., an omnichannel children’s specialty portfolio of brands, reported a decrease of 18.8 percent in net sales to 390.2 million dollars for its third quarter, compared to 480.2 million dollars for the three months that ended October 28, 2023. For the three months ending November 2, 2024, net income was 20.1 million...
Dec 3, 2024
The Children’s Place has appointed Philip Ende as GVP, head of real estate, effective November 11, 2024. As the head of real estate, the company said in a release, Ende will oversee the real estate strategy and operations for the company. He will report to Muhammad Umair, president and interim chief executive officer. Commenting on the Umair...
Nov 12, 2024
The Children’s Place has announced a new partnership with Shein that will see products from the childrenswear retailer sold via the fast fashion giant’s platform. The move was dubbed a “significant step forward” by The Children’s Place, which is continuing to embark on the implementation of an omnichannel strategy centred around diversification....
Oct 31, 2024
Second quarter net sales at The Children’s Place decreased 25.9 million dollars or 7.5 percent to 319.7 million dollars driven by an anticipated decrease in ecommerce revenue to improve profitability. Comparable retail sales decreased 7.2 percent for the quarter. However, net loss reduced to 32.1 million dollars or 2.51 dollars per diluted...
Sep 12, 2024
The Children’s Place has appointed Claudia Lima-Guinehut as brand president, effective September 9, 2024. The company said in a release that Lima-Guinehut is rejoining the business from Claire's, where she had served as executive vice president and chief merchandising officer since June 2023. Lima-Guinehut will oversee all customer-facing...
Aug 26, 2024
For the first quarter, net sales at The Children’s Place decreased 53.7 million dollars or 16.7 percent to 267.9 million dollars. Comparable retail sales decreased 11.7 percent for the quarter. The company said in a statement that the decrease in net sales was primarily due to reductions in retail sales driven by lower store count, traffic...
Jun 13, 2024
Weeks after new majority shareholder Mithaq Capital stepped in to inject 78.6 million dollars into the business, The Children’s Place (TCP) is now preparing for a leadership transition ahead of the implementation of a new strategy outlined by the investor’s chairman, Turki AlRajhi. The childrenswear retailer revealed that its current president...
May 27, 2024
Kidswear retailer The Children’s Place has secured a new financing agreement with majority shareholder Mithaq Capital SPC to provide 78.6 million dollars of interest-free unsecured and subordinated term loans as part of strengthening the company’s liquidity positioning. The news comes weeks after Saudi Arabia’s Mithaq had snapped up over half of...
Mar 1, 2024
The Children’s Place has announced that it has received an offer for a 130 million dollar term loan from a subsidiary of liquidation and restructuring firm Gorden Brothers, days after over half of its share capital was snapped by Mithaq Capital. While the offer by Gorden Brothers is still subject to due diligence checks, The Children’s Place...
Feb 19, 2024