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PLCE LATEST HEADLINES
PLCE has increased viability as a meme stock due to Mithaq Capital's aggressive buying and upheaval of the company's leadership team. Mithaq Capital has purchased 7 million of PLCE's 12.5 million shares outstanding. Most of those shares being purchased in a week-long buying spree this month. Mithaq's behavior around its attempted takeover of Aimia provides evidence that a takeover offer on PLCE may come soon.
The biggest insider trading news of the week may have been Amazon.com Inc. (NASDAQ: AMZN) founder Jeff Bezos shedding over $4 billion worth of the company's shares as he reportedly prepares to move to Florida to take advantage of the better income tax environment.
The Children's Place Inc.'s stock PLCE rose 3.3% early Thursday, after the apparel retailer said its been informed by Snowball Compound Ltd. and parties related to Mithaq Capital that they have built a 54% stake in the company and plan to nominate 11 people for election to the board at the 2024 annual shareholder meeting.
After a disappointing holiday season, The Children's Place filed last week that it is working with advisors and lenders to obtain additional financing to support its ongoing operation. The company indicated it is working with Centerview Partners, and it is considering strategic alternatives in case it cannot close on the new, much needed financing.
The Children's Place (PLCE) is actively pursuing measures to enhance its inventory position and bolster financial liquidity.
The Children's Place preannounced a sales miss this morning -- and hinted that earnings might miss as well. Management disavowed its previous sales forecast, blaming discounts and write-downs on merchandise for the miss.
Children's Place Inc.'s stock PLCE, +2.28% tumbled 27% early Friday, after the children's clothing chain issued a profit warning for the fourth quarter and said it's working with lenders to secure new financing. In a filing with the Securities and Exchange Commission, the company said it would consider strategic alternatives if it's unable to secure funds needed to support ongoing operations.
The Children's Place (PLCE) grapples with a tough industry backdrop, rising costs and expenses and other operational complexities.
The holiday sales season tends to be a “make or break” window for retail stocks. Many companies inch along throughout the year, posting similar stats quarter over quarter (QOQ).
The Children's Place, Inc. (NASDAQ:PLCE ) Q3 2023 Earnings Conference Call November 16, 2023 8:00 AM ET Company Participants Jane Elfers - President and CEO Maegan Markee - Brand President Sheamus Toal - COO and CFO Conference Call Participants Jeff Lick - B. Riley Financial Jim Chartier - Monness, Crespi and Hardt Jay Sole - UBS Marni Shapiro - The Retail Tracker Dana Telsey - Telsey Group Operator Good morning, and welcome to The Children's Place Third Quarter 2023 Earnings Conference Call.