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Children's Place profit dips 12%
10 Mar 2010 at 6:16am

NEW YORK (MarketWatch) -- The Children's Place Retail Stores Inc. said Wednesday its fourth-quarter net income fell to $34.1 million, or $1.23 a share, from $38.8 million, or $1.31 a share, in the year-ago period. Adjusted net income for the retailer rose to $1.03 a share, from 72 cents a share. Revenue rose to $462.8 million from $441.5 million. Wall Street analysts expected the company to earn $1.04 a share on revenue of $462.8 million, according to a survey by FactSet Research. The Children's Place expects first-quarter earnings of 85-90 cents a share and 2010 earnings of $2.90 a share to $3.10 a share, assuming positive low-single digit comparable retail sales. Analysts expect first-quarter profit of 88 cents a share and 2010 profit of $2.70 a share.

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