The Children’s Place Continues Capital Return Program, Declares Quarterly Dividend
November 17 2016 - 6:03AM
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 delivered another outstanding 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 $747 million to
shareholders through dividends and share repurchases.”
The Board declared a quarterly cash dividend of $0.20 per share
to be paid January 5, 2017 to shareholders of record at the close
of business on December 17, 2016. 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 October 29, 2016, the Company
operated 1,061 stores in the United States, Canada and Puerto Rico,
an online store at www.childrensplace.com, and had 139
international points of distribution open and operated by its 6
franchise partners in 17 countries.
Forward Looking StatementsThis press release
contains 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 30, 2016.
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
Childrens Place (NASDAQ:PLCE)
Historical Stock Chart
From Apr 2024 to May 2024
Childrens Place (NASDAQ:PLCE)
Historical Stock Chart
From May 2023 to May 2024