ICR Conference Could Be Positive For PLCE, J.P. Morgan Reports

The Children's Place PLCE has been under pressure in the last week (down 6% vs. the group flat) as there has been some concern that the company could miss its 4Q guidance given what looks like higher markdowns at stores and December snow storms in the Northeast (an important region for PLCE, with close to 30% of sales), J.P. Morgan reports. “With 80% of 4Q in, we think comps are running in line with guidance for down low single digits and reiterate our $1.02 EPS estimate for 4Q,” J.P. Morgan writes. “We don't expect an update from the company until 4Q results are reported on March 9th and think next week's ICR conference could be a positive catalyst for the stock.” The Children's Place currently trades at $45.44.