Children's Place Profits Soar

SECAUCUS, NJ-The Children’s Place Retail Stores yesterday reported that Q4 net income nearly doubled, rising 91% to $45.7 million versus $23.9 million a year earlier. The results came as Q4 consolidated net sales rose 17% to $539.7 million from $462.1 million a year earlier, the company’s chairman and CEO, Ezra Dabah, reported.

Of the total sales, $355.1 million was generated by the Children’s Place, and $184.6 million came from the Disney Store division. Diluted earnings per share increased 85% to $1.57 from 85 cents.

And for fiscal year 2005, net income increased 53% to $65.6 million versus $42.8 million, including extraordinary gain, the previous year. Net sales rose 44% to just under $1.67 billion from $1.16 billion for 2004. The Children’s Place share of net sales rose 18% to $1.17 billion, while the Disney share of the total amounted to $497.7 million. Diluted earnings per share increased 46% to $2.27 from $1.55.