The Children's Place news and archive

The Children’s Place expects to report positive Q4

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...

People

The Children’s Place names Philip Ende as head of real estate

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...

Business

The Children’s Place to sell via Shein in new partnership

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....

Business

The Children’s Place swings to profitability

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...

People

Claudia Lima-Guinehut to rejoin The Children’s Place as brand president

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...

Business

The Children's Place Q1 comparable sales drop by 11.7 percent

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...

Business

The Children’s Place appoints interim CEO, strategy outlined by majority shareholder

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...

Business

The Children’s Place secures 78.6 million dollar term loan from majority shareholder

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...

Business

The Children’s Place mulls 130 million dollar term loan

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...

BusinessFeatured

The Children’s Place posts drop in Q3 sales and earnings

The Children’s Place reported third quarter net sales decreased 28.9 million dollars or 5.7 percent to 480.2 million dollars. The company’s comparable retail sales decreased 7.3 percent for the quarter. The company attributed the decrease in net sales to the impact of the continued slowdown in consumer demand resulting from the unprecedented...

Fashion |In Pictures

Mandy Moore launches holiday children’s collection with Gymboree

Actress and singer Mandy Moore has unveiled a limited-edition capsule holiday collection with Gymboree, part of The Children’s Place, inspired by her two boys, Gus and Ozzie. The capsule collection is the culmination of the year-long partnership between Gymboree and Moore, who is its 2023 brand ambassador and offers clothing for boys and girls...

BusinessFeatured

The Children’s Place cuts full year outlook

The Children’s Place, Inc. reported a decrease in net sales of 35.3 million dollars or 9.3 percent to 345.6 million dollars in the second quarter. The company attributed the decline to the impact of a slowdown in consumer demand resulting from the unprecedented inflation impacting customers, an increase in promotional activity across the sector,...