The Childrens Place Retail Stores Climbs In Pre-Market On Quarterly Results

(RTTNews) - The Childrens Place Retail Stores, Inc. (PLCE | Quote | Chart | News | PowerRating) is on the rise during Thursday's pre-market trading following the release of quarterly results.

At 9:08 am ET the stock is trading at $39.70 up $2.92 from Wednesday's close.

With the advance, the stock stands to open above recent resistance and at its highest level since late July.

The company reported second-quarter net income of $11 thousand, or breakeven per share, compared to net loss of $28.09 million, or $0.97 per share, last year.

Income from continuing operations of $2.74 million, or $0.09 per share, compared to loss from continuing operations of $19.8 million, or $0.68 per share, in the prior-year quarter.

Adjusted income from continuing operations was $0.9 million, or $0.03 per share, compared to adjusted loss from continuing operations of $17.8 million, or $0.61 per share, in the same quarter a year earlier.

On average, nine analysts polled by First Call/Thomson Financial expected the company to report loss of $0.43 per share.

Quarterly net sales grew to $338.03 million from $290.5 million in the comparable period a year ago. Six analysts had a consensus revenue estimate of $339.03 million.

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