Boston, MA 08/21/2114 (wallstreetpr) – A pure-play children’s specialty apparel retailer, Childrens Place Inc (NASDAQ:PLCE) disclosed that it had struck a partnership agreement with India-based Arvind Lifestyle Brands Limited to launch stores in India. The first openings are scheduled during the fall of 2015. There could be a potential of 50 stores after the first launch.
International Presence
The company President and Chief Executive Officer, Jane Elfers, said that it was making significant steps in its global franchise business as the company was focused on offering great value and fashion to the kids around the world. He said that Arvind has an established record in the Indian market and also operates successful brands. The Childrens Place Inc (NASDAQ:PLCE) would be the first of its kind in India specifically for the age group of 0 – 14.
The CEO also disclosed that it was committed to continuing its execution of E-Commerce growth, international and wholesale business expansions apart from investments in seamless retail and rationalization of fleet to deliver sustainable long-term growth.
Dividend
Childrens Place board had declared a quarterly dividend of 13.25 cents a share to be paid in cash on October 17 to the shareholders, whose names appear in the records book of the company as on September 26.
The company disclosed that it had returned more than $450 million to its shareholders in the last five years by way of dividends and share buyback.
2Q Results
The Childrens Place Inc (NASDAQ:PLCE) had suffered a net loss of $10.7 million or a loss of 49 cents a share in the second quarter, narrower than a loss of $23.6 million or a loss of $1.05 a share in the year-ago quarter. On an adjusted basis too, net loss narrowed to $8.2 million or a loss of 37 cents a share versus a net loss of $9.4 million or a loss of 42 cents a share in the prior year quarter.
Childrens Place net sales rose modestly to $384.6 million from $382.4 million in the previous year quarter. Its comparable store sales advanced 0.8% during the second quarter.
