The Children’s Place Continues Capital Return Program, Declares Quarterly Dividend
August 09 2017 - 7:01AM
The Children’s Place, Inc. (Nasdaq:PLCE), the
largest pure-play children’s specialty apparel retailer in North
America, today announced that its Board of Directors has declared a
quarterly dividend.
Jane Elfers, President and Chief Executive Officer, commented,
“We continued to deliver outstanding operating results in the
second quarter and the continuation of our quarterly dividend is a
further reflection of our confidence in our ability to execute on
our strategic initiatives and our continuing commitment to return
excess capital to shareholders. The Children’s Place has a
profitable business model which generates strong cash flow. Since
2009, we have returned over $829 million to shareholders through
dividends and share repurchases.”
The Board declared a quarterly cash dividend of $0.40 per share
to be paid October 3, 2017 to shareholders of record at the close
of business on September 12, 2017. Future declarations of
quarterly dividends and the establishment of future record and
payment dates are subject to approval by the Company’s Board of
Directors based on a number of factors, including business and
market conditions, the Company’s future financial performance and
other investment priorities.
About The Children’s Place, Inc.The Children’s
Place is the largest pure-play children’s specialty apparel
retailer in North America. The Company designs, contracts to
manufacture, sells at retail and wholesale, and licenses to sell
fashionable, high-quality merchandise at value prices, primarily
under the proprietary “The Children’s Place,” “Place” and “Baby
Place” brand names. As of July 29, 2017, the Company operated
1,026 stores in the United States, Canada and Puerto Rico, an
online store at www.childrensplace.com, and had 161 international
points of distribution open and operated by its 7 franchise
partners in 19 countries.
Forward Looking Statement
This press release may contain forward-looking statements made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, including but not limited to
statements relating to the Company’s strategic initiatives and
adjusted net income per diluted share. Forward-looking
statements typically are identified by use of terms such as “may,”
“will,” “should,” “plan,” “project,” “expect,” “anticipate,”
“estimate” and similar words, although some forward-looking
statements are expressed differently. These forward-looking
statements are based upon the Company's current expectations and
assumptions and are subject to various risks and uncertainties that
could cause actual results and performance to differ materially.
Some of these risks and uncertainties are described in the
Company's filings with the Securities and Exchange Commission,
including in the “Risk Factors” section of its Annual Report on
Form 10-K for the fiscal year ended January 28, 2017. Included
among the risks and uncertainties that could cause actual results
and performance to differ materially are the risk that the Company
will be unsuccessful in gauging fashion trends and changing
consumer preferences, the risks resulting from the highly
competitive nature of the Company’s business and its dependence on
consumer spending patterns, which may be affected by weakness in
the economy that continues to affect the Company’s target customer,
the risk that the Company’s strategic initiatives to increase sales
and margin are delayed or do not result in anticipated
improvements, the risk of delays, interruptions and disruptions in
the Company’s global supply chain, including resulting from foreign
sources of supply in less developed countries or more politically
unstable countries, the risk that the cost of raw materials or
energy prices will increase beyond current expectations or that the
Company is unable to offset cost increases through value
engineering or price increases, and the uncertainty of weather
patterns. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
they were made. The Company undertakes no obligation to release
publicly any revisions to these forward-looking statements that may
be made to reflect events or circumstances after the date hereof or
to reflect the occurrence of unanticipated events.
Contact: Robert Vill, Group Vice President, Finance, (201) 453-6693
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