The Children's Place Shares Up 2.2% On Earnings Beat (PLCE)

Shares of The Children's Place Retail Stores, Inc. PLCE are trading up 2.2% at $48.90 per share during the Thursday afternoon trading session. The day's trading range for shares of The Children's Place Retail Stores, Inc has been between $48.28 and $50.94 per share. Analysts covering the company's stock give it a consensus price target of $49.50 per share. Volume of 760,000 shares is approaching the daily average volume of 841,000 shares. The Children's Place Retail Stores, Inc. (PLCE) announced on Thursday morning that it beat consensus Wall Street earnings expectations, but missed revenue estimates. The Children's Place Retail Stores, Inc announced 3rd quarter earnings per share of $1.14, on revenue of $453.4 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of $1.12 per share, on revenue of $462.34 million. The company provided full-year 2010 guidance of earnings per diluted share from continuing operations in the range of $2.78 to $2.83. President and chief executive officer Jane Elfers said, "As we announced mid-October, third quarter sales and profits for The Children's Place were impacted by poorly performing fashion in the back-to-school line as well as unseasonably warm temperatures. While short-term market conditions remain challenging for our business, we are making significant progress on our longer-term growth initiatives which we believe will lead to enhanced sales and profitability in 2011 and beyond." Read more from Benzinga's Company news.