Reported about 7 hours ago
The Children's Place saw its shares drop 30% after reporting a first-quarter loss that was three times larger than analysts expected, attributing this to economic uncertainties and tariff concerns leading to decreased consumer spending. The company's revenue fell nearly 10% year-over-year, with a nearly 14% decline in comparable sales, particularly in e-commerce. Interim CEO Muhammad Umair warned that the challenging retail environment, including weather patterns and tariffs, continues to pressure sales throughout the year.
Source: YAHOO