The Childrens Place Q1 sales improve 70.6 percent
Image: The Children''s Place, Facebook For its first quarter, The Childrens Place, Inc. said, net sales increased 180.3 million dollars or 70.6 percent to 435.5 million dollars compared to the three months ended May 2, 2020, driven by strong customer response to product assortment and the unprecedented level of stimulus payments from the recent government pandemic relief legislation. Comparable retail sales were 83 percent for the quarter. Commenting on the results, Jane Elfers, president and chief executive officer said: We delivered outstanding first quarter results with gross margin, operating margin, and EPS all at record levels. We leveraged a very difficult period in 2020 to accelerate our strategic transformation and we are now well positioned for accelerated operating margin expansion in 2021 and beyond. Q1 highlights of The Childrens Place The company added that gross profit increased 207.9 million dollars to 188.2 million dollars compared to a gross loss of 19.7 million dollars in the first quarter of 2020.
The Childrens Place Q1 sales improve 70.6 percent
Image: The Children''s Place, Facebook For its first quarter, The Childrens Place, Inc. said, net sales increased 180.3 million dollars or 70.6 percent to 435.5 million dollars compared to the three months ended May 2, 2020, driven by strong customer response to product assortment and the unprecedented level of stimulus payments from the recent government pandemic relief legislation. Comparable retail sales were 83 percent for the quarter. Commenting on the results, Jane Elfers, president and chief executive officer said: We delivered outstanding first quarter results with gross margin, operating margin, and EPS all at record levels. We leveraged a very difficult period in 2020 to accelerate our strategic transformation and we are now well positioned for accelerated operating margin expansion in 2021 and beyond. Q1 highlights of The Childrens Place The company added that gross profit increased 207.9 million dollars to 188.2 million dollars compared to a gross loss of 19.7 million dollars in the first quarter of 2020.