The Children’s Place Reports Fourth Quarter and Full Year 2024 Results
The Children's Place (PLCE) reported Q4 and full-year 2024 results, marking its third consecutive quarter of adjusted operating profits. Q4 net sales decreased 10.2% to $408.6 million, while full-year sales declined 13.5% to $1.386 billion.
Key Q4 highlights include:
- Gross profit margin improved to 28.5% (up 680 basis points)
- Operating income of $6.8 million (vs loss of $61.8M in 2023)
- Net loss of $8.0 million or $(0.62) per share
The company completed a $90 million rights offering post year-end, with $29.8 million in cash proceeds and $60.2 million used to pay down debt. The company ended the year with 495 stores after closing 16 locations in Q4 and opening its first new Gymboree store in over two years.
The Children's Place (PLCE) ha riportato i risultati del quarto trimestre e dell'intero anno 2024, segnando il terzo trimestre consecutivo di profitti operativi rettificati. Le vendite nette del quarto trimestre sono diminuite del 10,2% a 408,6 milioni di dollari, mentre le vendite dell'intero anno sono calate del 13,5% a 1,386 miliardi di dollari.
I principali punti salienti del quarto trimestre includono:
- Il margine di profitto lordo è migliorato al 28,5% (in aumento di 680 punti base)
- Reddito operativo di 6,8 milioni di dollari (rispetto a una perdita di 61,8 milioni di dollari nel 2023)
- Perdita netta di 8,0 milioni di dollari o $(0,62) per azione
L'azienda ha completato un offerta di diritti da 90 milioni di dollari dopo la chiusura dell'anno, con 29,8 milioni di dollari di proventi in contante e 60,2 milioni di dollari utilizzati per ridurre il debito. L'azienda ha chiuso l'anno con 495 negozi dopo aver chiuso 16 punti vendita nel quarto trimestre e aver aperto il suo primo nuovo negozio Gymboree in oltre due anni.
The Children's Place (PLCE) informó los resultados del cuarto trimestre y del año completo 2024, marcando su tercer trimestre consecutivo con ganancias operativas ajustadas. Las ventas netas del cuarto trimestre disminuyeron un 10.2% a 408.6 millones de dólares, mientras que las ventas del año completo cayeron un 13.5% a 1.386 mil millones de dólares.
Los aspectos destacados del cuarto trimestre incluyen:
- El margen de beneficio bruto mejoró al 28.5% (aumento de 680 puntos base)
- Ingreso operativo de 6.8 millones de dólares (frente a una pérdida de 61.8 millones de dólares en 2023)
- Pérdida neta de 8.0 millones de dólares o $(0.62) por acción
La empresa completó una oferta de derechos de 90 millones de dólares después del cierre del año, con 29.8 millones de dólares en ingresos en efectivo y 60.2 millones de dólares utilizados para pagar deudas. La empresa cerró el año con 495 tiendas después de cerrar 16 ubicaciones en el cuarto trimestre y abrir su primera nueva tienda Gymboree en más de dos años.
The Children's Place (PLCE)는 2024년 4분기 및 연간 실적을 보고하며, 조정된 운영 이익이 3분기 연속으로 증가했음을 나타냈습니다. 4분기 순매출은 10.2% 감소한 4억 860만 달러였으며, 연간 매출은 13.5% 감소한 13억 8천6백만 달러였습니다.
4분기의 주요 하이라이트는 다음과 같습니다:
- 총 이익률이 28.5%로 개선됨 (680 베이시스 포인트 상승)
- 운영 소득 680만 달러 (2023년 6180만 달러 손실 대비)
- 순손실 800만 달러 또는 주당 $(0.62)
회사는 연말 이후 9천만 달러 규모의 권리 공모를 완료했으며, 2980만 달러의 현금 수익과 6020만 달러를 부채 상환에 사용했습니다. 회사는 4분기에 16개 매장을 폐쇄하고 2년 만에 첫 번째 새로운 Gymboree 매장을 열면서 495개 매장으로 연도를 마감했습니다.
The Children's Place (PLCE) a annoncé les résultats du quatrième trimestre et de l'année complète 2024, marquant son troisième trimestre consécutif de bénéfices d'exploitation ajustés. Les ventes nettes du quatrième trimestre ont diminué de 10,2 % pour atteindre 408,6 millions de dollars, tandis que les ventes sur l'année ont chuté de 13,5 % pour s'établir à 1,386 milliard de dollars.
Les points forts du quatrième trimestre incluent :
- La marge brute s'est améliorée à 28,5 % (augmentation de 680 points de base)
- Un revenu d'exploitation de 6,8 millions de dollars (contre une perte de 61,8 millions de dollars en 2023)
- Une perte nette de 8,0 millions de dollars ou $(0,62) par action
L'entreprise a complété une offre de droits de 90 millions de dollars après la clôture de l'année, avec 29,8 millions de dollars de produits en espèces et 60,2 millions de dollars utilisés pour rembourser des dettes. L'entreprise a terminé l'année avec 495 magasins après avoir fermé 16 emplacements au quatrième trimestre et ouvert son premier nouveau magasin Gymboree en plus de deux ans.
The Children's Place (PLCE) hat die Ergebnisse für das vierte Quartal und das gesamte Jahr 2024 veröffentlicht und damit das dritte aufeinanderfolgende Quartal mit bereinigten Betriebsergebnissen markiert. Die Nettoumsätze im vierten Quartal sanken um 10,2% auf 408,6 Millionen Dollar, während die Umsätze im Gesamtjahr um 13,5% auf 1,386 Milliarden Dollar zurückgingen.
Wichtige Highlights des vierten Quartals sind:
- Die Bruttomarge verbesserte sich auf 28,5% (ein Anstieg um 680 Basispunkte)
- Betriebseinkommen von 6,8 Millionen Dollar (gegenüber einem Verlust von 61,8 Millionen Dollar im Jahr 2023)
- Nett Verlust von 8,0 Millionen Dollar oder $(0,62) pro Aktie
Das Unternehmen hat nach Jahresende ein Rechtsangebot über 90 Millionen Dollar abgeschlossen, mit 29,8 Millionen Dollar an Barerträgen und 60,2 Millionen Dollar, die zur Schuldentilgung verwendet wurden. Das Unternehmen schloss das Jahr mit 495 Filialen ab, nachdem es im vierten Quartal 16 Standorte geschlossen und nach über zwei Jahren seinen ersten neuen Gymboree-Standort eröffnet hatte.
- Third consecutive quarter of adjusted operating profits
- Gross profit margin improved significantly to 28.5% in Q4 (up 680 basis points)
- Lowest SG&A spending level in 15+ years
- Operating income improved by $68.6 million in Q4 vs 2023
- Successfully raised $90 million through rights offering to improve liquidity
- Net sales declined 10.2% to $408.6M in Q4
- Comparable retail sales decreased 15.3% in Q4
- Net loss of $8.0 million ($0.62 per share) in Q4
- Operating cash flow usage of $117.6 million for full year
- $245.7 million outstanding on revolving credit facility
Insights
The Children's Place (PLCE) Q4 and FY2024 results reveal a strategic pivot from volume to profitability that's showing measurable progress. The company achieved its third consecutive quarter of adjusted operating profits despite a
The transformation strategy is yielding significant margin improvements, with gross margin expanding 680 basis points to
While comparable retail sales declined
The balance sheet has been strengthened through a
The company faces potential headwinds from tariffs but believes its country diversification strategies will partially mitigate impacts. The strategic shift to profitable growth appears to be gaining traction, though sustainable top-line recovery remains a key challenge for 2025.
Reports Third Consecutive Quarter of Adjusted Operating Profits
Net Sales of
Significant Improvement in Gross Profit Margin to
Lowest Level of SG&A Spending in more than 15 Years during Fourth Quarter and Full Year
Improvement in Operating Income of
Significant Improvement in Liquidity Position with Completion of
SECAUCUS, N.J., April 11, 2025 (GLOBE NEWSWIRE) -- The Children’s Place, Inc. (Nasdaq: PLCE), the largest pure-play children’s specialty retailer in North America with an omni-channel portfolio of brands and an industry-leading digital-first model, today announced financial results for the fourth quarter ended February 1, 2025.
Muhammad Umair, President and Interim Chief Executive Officer said, “During the fourth quarter, we continued our efforts to expand gross margin, reduce inefficient SG&A spending and remain laser-focused on improving the profitability of the business, which has enabled us to achieve a third consecutive quarter of adjusted operating profits. As expected, along with the ongoing transformation of our business model, these strategic changes and other macroeconomic headwinds have continued to put pressure on top-line sales. However, we remain extremely pleased with the resulting sequential improvement in the gross profit margin for all four quarters this year.”
Mr. Umair added, “With the recent completion of our rights offering, we were also successful in deleveraging our balance sheet. We were able to raise additional capital of
Mr. Umair continued, “Looking ahead for fiscal 2025, we remain determined to deliver profitable top-line sales as we continue to refine our omni-channel strategy and rebalance our product mix, by offering relevant product that resonates with parents. As we continue to optimize our marketing spend, we will re-invest in a revitalized loyalty program with a best-in-class unified customer database that will allow us to acquire, retain and reactivate our customers. As part of our reimagined business strategy, we are committed to strengthening and enhancing our store portfolio by improving the performance of our existing store fleet, while developing innovative designs to be used in targeted store openings for both The Children’s Place and Gymboree brands in the back-half of 2025 and beyond.
Our Executive Chairman, Turki S. AlRajhi, provides a long-term outlook for the Company, with further details on these strategic initiatives and other business priorities, in his letter to shareholders that can be found on our corporate website at: https://corporate.childrensplace.com/chairmans-letters.”
Mr. Umair concluded, “At a time when many families are already feeling pressure on their wallets, potential tariffs could represent additional headwinds for the apparel sector. We do expect margin pressure as a result, though we believe our existing country migration and diversification strategies have us well-positioned to partially offset potential impacts. At the same time, we see an opportunity as families grow increasingly value-conscious to continue to deliver quality at accessible prices, which can position us to capture trade-down traffic and support our customers when they need us most.”
Fourth Quarter 2024 Results
Net sales decreased
Comparable retail sales decreased
Gross profit increased
Selling, general, and administrative expenses were well-controlled at
Operating income was
Net interest expense was
Provision for income taxes was
Net loss was
Fiscal Year 2024 Results
Net sales decreased
Gross profit increased
Selling, general, and administrative expenses were
Operating loss was
Net interest expense was
Provision for income taxes was
Net loss, which included certain non-cash impairment charges, restructuring charges, and charges due to the Company’s change in control, was
Store Update
During the fourth quarter, the Company opened its first new store in more than two years, which was a Gymboree stand-alone store located in Garden State Plaza Mall. The Company closed 16 stores in the three months ended February 1, 2025, and ended the year with 495 stores.
Balance Sheet and Cash Flow
As of February 1, 2025, the Company had
Inventories were
On February 6, 2025, the Company raised
Non-GAAP Reconciliation
The Company’s results are reported in this press release on a GAAP and as adjusted, non-GAAP basis. Adjusted net income (loss), adjusted net income (loss) per diluted share, adjusted gross profit, adjusted selling, general, and administrative expenses, and adjusted operating income (loss) are non-GAAP measures, and are not intended to replace GAAP financial information, and may be different from non-GAAP measures reported by other companies. The Company believes the income and expense items excluded as non-GAAP adjustments are not reflective of the performance of its core business, and that providing this supplemental disclosure to investors will facilitate comparisons of the past and present performance of its core business.
Please refer to the “Reconciliation of Non-GAAP Financial Information to GAAP” later in this press release, which sets forth the non-GAAP operating adjustments for the 13-week period and 52-week period ended February 1, 2025, and for the 14-week period and 53-week period ended February 3, 2024.
About The Children’s Place
The Children’s Place is the largest pure-play children’s specialty retailer in North America with an omni-channel portfolio of brands and an industry-leading digital-first model. Its global retail and wholesale network includes two digital storefronts, 495 stores in North America, wholesale marketplaces and distribution in 13 countries through six international franchise partners. The Children’s Place designs, contracts to manufacture, and sells fashionable, high-quality, head-to-toe outfits predominantly at value prices, primarily under its proprietary brands: “The Children’s Place”, “Gymboree”, “Sugar & Jade”, and “PJ Place”. For more information, visit: www.childrensplace.com and www.gymboree.com.
Forward-Looking Statements
This press release contains or may contain 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 results of operations, including adjusted net income (loss) per diluted share. Forward-looking statements typically are identified by use of terms such as “may,” “will,” “should,” “plan,” “project,” “expect,” “anticipate,” “estimate,” “believe” 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 “Part 1, item1A. Risk Factors” section of its annual report on Form 10-K for the fiscal year ended February 3, 2024.
Included among the risks and uncertainties that could cause actual results and performance to differ materially are the risk that the Company will be unable to achieve operating results at levels sufficient to fund and/or finance the Company’s current level of operations and repayment of indebtedness, the risk that changes in trade policy and tariff regimes, including newly imposed U.S. tariffs and any responsive non-U.S. tariffs, may impact the Company’s international manufacturing and operations or our customers’ discretionary spending habits, 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 changes in economic conditions (including inflation), the risk that changes in the Company’s plans and strategies with respect to pricing, capital allocation, capital structure, investor communications and/or operations may have a negative effect on the Company’s business, the risk that the Company’s strategic initiatives to increase sales and margin, improve operational efficiencies, enhance operating controls, decentralize operational authority and reshape the Company’s culture are delayed or do not result in anticipated improvements, the risk of delays, interruptions, disruptions and higher costs in the Company’s global supply chain, including resulting from disease outbreaks, foreign sources of supply in less developed countries, more politically unstable countries, or countries where vendors fail to comply with industry standards or ethical business practices, including the use of forced, indentured or child labor, 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, various types of litigation, including class action litigations brought under securities, consumer protection, employment, and privacy and information security laws and regulations, risks related to the existence of a controlling shareholder, and the uncertainty of weather patterns, as well as other risks discussed in the Company’s filings with the SEC from time to time.
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: Investor Relations (201) 558-2400 ext. 14500
| THE CHILDREN’S PLACE, INC. | |||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
| (In thousands, except per share amounts) | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Fourth Quarter Ended | Fiscal Year Ended | ||||||||||||||
| February 1, 2025 | February 3, 2024 | February 1, 2025 | February 3, 2024 | ||||||||||||
| Net sales | $ | 408,562 | $ | 455,034 | $ | 1,386,269 | $ | 1,602,508 | |||||||
| Cost of sales | 291,977 | 356,123 | 926,808 | 1,157,234 | |||||||||||
| Gross profit | 116,585 | 98,911 | 459,461 | 445,274 | |||||||||||
| Selling, general and administrative expenses | 100,574 | 117,587 | 405,550 | 447,343 | |||||||||||
| Depreciation and amortization | 9,206 | 11,652 | 39,612 | 47,186 | |||||||||||
| Asset impairment charges | — | 31,429 | 28,000 | 34,543 | |||||||||||
| Operating income (loss) | 6,805 | (61,757 | ) | (13,701 | ) | (83,798 | ) | ||||||||
| Related party interest expense | (1,939 | ) | — | (6,493 | ) | — | |||||||||
| Other interest expense, net | (6,778 | ) | (8,518 | ) | (29,254 | ) | (30,000 | ) | |||||||
| Loss before provision for income taxes | (1,912 | ) | (70,275 | ) | (49,448 | ) | (113,798 | ) | |||||||
| Provision for income taxes | 6,078 | 58,561 | 8,371 | 40,743 | |||||||||||
| Net loss | $ | (7,990 | ) | $ | (128,836 | ) | $ | (57,819 | ) | $ | (154,541 | ) | |||
| Loss per common share (1) | |||||||||||||||
| Basic | $ | (0.62 | ) | $ | (10.24 | ) | $ | (4.53 | ) | $ | (12.34 | ) | |||
| Diluted | $ | (0.62 | ) | $ | (10.24 | ) | $ | (4.53 | ) | $ | (12.34 | ) | |||
| Weighted average common shares outstanding (1) | |||||||||||||||
| Basic | 12,805 | 12,577 | 12,766 | 12,522 | |||||||||||
| Diluted | 12,805 | 12,577 | 12,766 | 12,522 | |||||||||||
(1) In connection with the completion of the rights offering on February 6, 2025, the Company’s weighted average common shares outstanding and basic and diluted loss per share were retroactively adjusted for all periods presented by a factor of 1.002.
| THE CHILDREN’S PLACE, INC. | |||||||||||||||
| RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION TO GAAP | |||||||||||||||
| (In thousands, except per share amounts) | |||||||||||||||
| (Unaudited) | |||||||||||||||
| Fourth Quarter Ended | Fiscal Year Ended | ||||||||||||||
| February 1, 2025 | February 3, 2024 | February 1, 2025 | February 3, 2024 | ||||||||||||
| Net loss | $ | (7,990 | ) | $ | (128,836 | ) | $ | (57,819 | ) | $ | (154,541 | ) | |||
| Non-GAAP adjustments: | |||||||||||||||
| Fleet optimization | 571 | 1,546 | 1,428 | 3,086 | |||||||||||
| Restructuring costs | 498 | (225 | ) | 11,678 | 10,458 | ||||||||||
| Accelerated depreciation | 432 | 597 | 2,246 | 1,959 | |||||||||||
| Asset impairment charges | — | 31,429 | 28,000 | 34,543 | |||||||||||
| Change of control | — | — | 14,589 | — | |||||||||||
| Contract termination costs | — | — | 7,008 | 2,961 | |||||||||||
| Credit agreement / lender-required consulting fees | — | 1,012 | 2,390 | 1,762 | |||||||||||
| Canada distribution center closure | — | — | 781 | — | |||||||||||
| Professional and consulting fees | — | — | 580 | — | |||||||||||
| Provision for legal settlement | — | 3,000 | (2,279 | ) | 3,000 | ||||||||||
| Settlement payment received | — | (6,461 | ) | — | (6,461 | ) | |||||||||
| Aggregate impact of non-GAAP adjustments | 1,501 | 30,898 | 66,421 | 51,308 | |||||||||||
| Income tax effect (1) | (3,113 | ) | 5,228 | (3,113 | ) | (80 | ) | ||||||||
| Net impact of non-GAAP adjustments | (1,612 | ) | 36,126 | 63,308 | 51,228 | ||||||||||
| Adjusted net income (loss) | $ | (9,602 | ) | $ | (92,710 | ) | $ | 5,489 | $ | (103,313 | ) | ||||
| GAAP net loss per common share | $ | (0.62 | ) | $ | (10.24 | ) | $ | (4.53 | ) | $ | (12.34 | ) | |||
| Adjusted net income (loss) per common share | $ | (0.75 | ) | $ | (7.37 | ) | $ | 0.43 | $ | (8.25 | ) | ||||
(1) The tax effects of the non-GAAP items are calculated based on the statutory rate of the jurisdiction in which the discrete item resides, adjusted for the impact of any valuation allowance.
| THE CHILDREN’S PLACE, INC. | ||||||||||||||
| RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION TO GAAP | ||||||||||||||
| (In thousands, except per share amounts) | ||||||||||||||
| (Unaudited) | ||||||||||||||
| Fourth Quarter Ended | Fiscal Year Ended | |||||||||||||
| February 1, 2025 | February 3, 2024 | February 1, 2025 | February 3, 2024 | |||||||||||
| Operating income (loss) | $ | 6,805 | $ | (61,757 | ) | $ | (13,701 | ) | $ | (83,798 | ) | |||
| Non-GAAP adjustments: | ||||||||||||||
| Fleet optimization | 571 | 1,546 | 1,428 | 3,086 | ||||||||||
| Restructuring costs | 498 | (225 | ) | 11,678 | 10,458 | |||||||||
| Accelerated depreciation | 432 | 597 | 2,246 | 1,959 | ||||||||||
| Asset impairment charges | — | 31,429 | 28,000 | 34,543 | ||||||||||
| Change of control | — | — | 14,589 | — | ||||||||||
| Contract termination costs | — | — | 7,008 | 2,961 | ||||||||||
| Credit agreement / lender-required consulting fees | — | 1,012 | 2,390 | 1,762 | ||||||||||
| Canada distribution center closure | — | — | 781 | — | ||||||||||
| Professional and consulting fees | — | — | 580 | — | ||||||||||
| Provision for legal settlement | — | 3,000 | (2,279 | ) | 3,000 | |||||||||
| Settlement payment received | — | (6,461 | ) | — | (6,461 | ) | ||||||||
| Aggregate impact of non-GAAP adjustments | 1,501 | 30,898 | 66,421 | 51,308 | ||||||||||
| Adjusted operating income (loss) | $ | 8,306 | $ | (30,859 | ) | $ | 52,720 | $ | (32,490 | ) | ||||
| THE CHILDREN’S PLACE, INC. | |||||||||||
| RECONCILIATION OF NON-GAAP FINANCIAL INFORMATION TO GAAP | |||||||||||
| (In thousands, except per share amounts) | |||||||||||
| (Unaudited) | |||||||||||
| Fourth Quarter Ended | Fiscal Year Ended | ||||||||||
| February 1, 2025 | February 3, 2024 | February 1, 2025 | February 3, 2024 | ||||||||
| Gross profit | $ | 116,585 | $ | 98,911 | $ | 459,461 | $ | 445,274 | |||
| Non-GAAP adjustments: | |||||||||||
| Change of Control | — | — | 905 | — | |||||||
| Aggregate impact of non-GAAP adjustments | — | — | 905 | — | |||||||
| Adjusted gross profit | $ | 116,585 | $ | 98,911 | $ | 460,366 | $ | 445,274 | |||
| Fourth Quarter Ended | Fiscal Year Ended | ||||||||||||||
| February 1, 2025 | February 3, 2024 | February 1, 2025 | February 3, 2024 | ||||||||||||
| Selling, general and administrative expenses | $ | 100,574 | $ | 117,587 | $ | 405,550 | $ | 447,343 | |||||||
| Non-GAAP adjustments: | |||||||||||||||
| Fleet optimization | (571 | ) | (1,546 | ) | (1,428 | ) | (3,086 | ) | |||||||
| Restructuring costs | (498 | ) | 225 | (11,678 | ) | (10,458 | ) | ||||||||
| Change of control | — | — | (13,684 | ) | — | ||||||||||
| Contract termination costs | — | — | (7,008 | ) | (2,961 | ) | |||||||||
| Credit agreement / lender-required consulting fees | (1,012 | ) | (2,390 | ) | (1,762 | ) | |||||||||
| Canada distribution center closure | — | — | (781 | ) | — | ||||||||||
| Professional and consulting fees | — | — | (580 | ) | — | ||||||||||
| Provision for legal settlement | — | (3,000 | ) | 2,279 | (3,000 | ) | |||||||||
| Settlement payment received | — | 6,461 | — | 6,461 | |||||||||||
| Aggregate impact of non-GAAP adjustments | (1,069 | ) | 1,128 | (35,270 | ) | (14,806 | ) | ||||||||
| Adjusted selling, general and administrative expenses | $ | 99,505 | $ | 118,715 | $ | 370,280 | $ | 432,537 | |||||||
| THE CHILDREN’S PLACE, INC. | |||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
| (In thousands) | |||||||
| (Unaudited) | |||||||
| February 1, 2025 | February 3, 2024* | ||||||
| Assets: | |||||||
| Cash and cash equivalents | $ | 5,347 | $ | 13,639 | |||
| Accounts receivable | 42,701 | 33,219 | |||||
| Inventories | 399,602 | 362,099 | |||||
| Prepaid expenses and other current assets | 20,354 | 43,169 | |||||
| Total current assets | 468,004 | 452,126 | |||||
| Property and equipment, net | 97,487 | 124,750 | |||||
| Right-of-use assets | 161,595 | 175,351 | |||||
| Tradenames, net | 13,000 | 41,123 | |||||
| Other assets | 7,466 | 6,958 | |||||
| Total assets | $ | 747,552 | $ | 800,308 | |||
| Liabilities and Stockholders’ Deficit: | |||||||
| Revolving loan | $ | 245,659 | $ | 226,715 | |||
| Accounts payable | 126,716 | 225,549 | |||||
| Current portion of operating lease liabilities | 67,407 | 69,235 | |||||
| Accrued expenses and other current liabilities | 78,336 | 94,905 | |||||
| Total current liabilities | 518,118 | 616,404 | |||||
| Long-term debt | — | 49,818 | |||||
| Related party long-term debt | 165,974 | — | |||||
| Long-term portion of operating lease liabilities | 107,287 | 118,073 | |||||
| Other long-term liabilities | 15,584 | 25,032 | |||||
| Total liabilities | 806,963 | 809,327 | |||||
| Stockholders’ deficit | (59,411 | ) | (9,019 | ) | |||
| Total liabilities and stockholders’ deficit | $ | 747,552 | $ | 800,308 | |||
* Derived from the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended February 3, 2024.
| THE CHILDREN’S PLACE, INC. | ||||||||||
| PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET | ||||||||||
| (In thousands) | ||||||||||
| (Unaudited) | ||||||||||
| February 1, 2025 | ||||||||||
| Pre-Rights Offering | Adjustments | Post Rights Offering | ||||||||
| (in thousands) | ||||||||||
| Cash and cash equivalents | $ | 5,347 | $ | 29,813 | $ | 35,160 | ||||
| Total assets | 747,552 | 29,813 | 777,365 | |||||||
| Related party long-term debt | 165,974 | (59,148 | ) | 106,826 | ||||||
| Total liabilities | 806,963 | (59,148 | ) | 747,815 | ||||||
| Stockholder's equity (deficit) | (59,411 | ) | 88,961 | 29,550 | ||||||
| Total liabilities and stockholder’s equity (deficit) | $ | 747,552 | $ | 29,813 | $ | 777,365 | ||||
| Number of shares of Common stock outstanding | 12,782 | 9,231 | 22,013 | |||||||
| THE CHILDREN’S PLACE, INC. | |||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||
| (In thousands) | |||||||
| (Unaudited) | |||||||
| Fiscal Year Ended | |||||||
| February 1, 2025 | February 3, 2024 | ||||||
| Net loss | $ | (57,819 | ) | $ | (154,541 | ) | |
| Non-cash adjustments | 160,143 | 197,448 | |||||
| Working capital | (219,918 | ) | 49,893 | ||||
| Net cash provided by (used in) operating activities | (117,594 | ) | 92,800 | ||||
| Net cash used in investing activities | (15,830 | ) | (27,790 | ) | |||
| Net cash provided by (used in) financing activities | 128,398 | (68,268 | ) | ||||
| Effect of exchange rate changes on cash and cash equivalents | (3,266 | ) | 208 | ||||
| Net decrease in cash and cash equivalents | (8,292 | ) | (3,050 | ) | |||
| Cash and cash equivalents, beginning of period | 13,639 | 16,689 | |||||
| Cash and cash equivalents, end of period | $ | 5,347 | $ | 13,639 | |||
FAQ
What were The Children's Place (PLCE) Q4 2024 sales and how did they compare to last year?
How much did The Children's Place (PLCE) raise in their rights offering and how will it be used?
What was PLCE's gross profit margin in Q4 2024 and how did it improve?
How many stores does The Children's Place (PLCE) operate as of Q4 2024?
