In Q3 The Children’s Place net sales increased 3.4 per cent. Comparable retail sales increased 5.1 per cent.
Adjusted operating income in the third quarter of 2017 was 14 per cent of net sales. The Children’s Place is the largest pure-play children’s specialty apparel retailer in North America. It delivered exceptional operating results in the third quarter with comparable retail sales, gross margin, operating margin and earnings per diluted share all exceeding last year’s. Merchandise margin expanded for the eleventh consecutive quarter.
Store traffic experienced sequential improvement for each of the past six quarters and all of the key retail metrics increased - AUR, ADS, UPT, transactions and conversion. The retailer continues to make significant progress against each of its strategic growth initiatives - superior product, business transformation through technology, global growth through alternate channels of distribution and fleet optimization - all of which are supported by a best-in-class management team.
The company ended the quarter with 1,027 stores. Its international franchise partners opened 10 points of distribution and closed three in the third quarter, and the company ended the quarter with 168 international points of distribution open and operated by its seven franchise partners in 19 countries.
