The Children’s Place Continues Capital Return Program, Declares Quarterly Dividend
August 23 2018 - 7:02AM
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,
“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
repurchased approximately $1.05 billion of our common stock and
since 2014, paid approximately $83 million in dividends.”
The Board declared a quarterly cash dividend of $0.50 per share
to be paid September 17, 2018 to shareholders of record at the
close of business on September 5, 2018. 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 August 4, 2018, the Company
operated 992 stores in the United States, Canada and Puerto Rico,
an online store at www.childrensplace.com, and had 211
international points of distribution open and operated by its eight
franchise partners in 20 countries.
Forward Looking Statement
This press release contains or 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 February 3, 2018.
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 changes in
economic conditions, 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,
various types of litigation, including class action litigations
brought under consumer protection, employment, and privacy and
information security laws and regulations, the imposition of
regulations affecting the importation of foreign-produced
merchandise, including duties and tariffs, 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: Investor Relations (201)
453-6693
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