Q4FY17 net nearly doubles at The Children's Place

Net income for the three months ended January 28, 2017 nearly doubled to $34.2 million, or $1.86 per diluted share at The Children's Place, as against net income of $17.5 million, or $0.87 per diluted share in the fiscal ago quarter. Net sales increased slower at 4.5 per cent year on year, to $520.8 million in the fourth quarter of fiscal 2017.

Gross profit at the children’s specialty apparel retailer also rose to $187.9 million in the reporting quarter, compared to $177.5 million in the fourth quarter of fiscal 2016.

Selling, general and administrative expenses fell to $121.6 million in the quarter under review, vis-à-vis $131.2 million in the prior fiscal's same quarter.

In the fourth quarter of fiscal 2017, operating income soared to $48.7 million versus $29.3 million in the corresponding quarter of previous fiscal.