August 31, 2010, 2:49 PM

Children’s Place posts some grown-up web sales

Web sales in Q2 increased year over year about 30.3% to $28.8 million.

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More shoppers clearly preferred purchasing younger kids clothing online at The Children’s Place in the second quarter as e-commerce sales easily outperformed store sales.

For the second quarter ended July 31, The Children’s Place, No. 123 in Internet Retailer’s Top 500 Guide, reported:

  • Web sales increased year over year about 30.3% to $28.8 million from $22.1 million in the second quarter of 2009.
  • Total sales grew year over year 9.4% to $345.3 million from $315.7 million.
  • Comparable-store sales increased 4.7%.
  • Net loss was $8.2 million compared with a net loss of $7 million in the second quarter of 2009.

“We posted solid results for the second quarter, narrowing our seasonal operating loss through a combination of top line growth and disciplined expense management,” says CEO Jane Elfers. “We also continued to make substantial progress on our longer-term growth initiatives and believe we are well-positioned to gain market share."

Internet Retailer calculates the web accounted for 8.3% of total sales compared with 7.0% in the prior year. Internet Retailer also calculates the Internet accounted for 22.6%—$6.7 million—of The Children’s Place’s total sales growth in the second quarter of $29.6 million.

For the first two quarters, The Children’s Place recorded:

  • Web sales increased year over year about 25.6% to $63 million from $50.2 million in the first two quarters of 2009.
  • Total sales grew year over year 6.9% to $767.4 million from $717.6 million.
  • Comparable-store sales increased 1.7%.
  • Net income was $19.7 million compared with net income of $16.4 million in the first two quarters of 2009.

Internet Retailer calculates the web accounted for 8.2% of total sales compared with 7.0% in the prior year. Internet Retailer also calculates the Internet accounted for 25.7%—$12.8 million—of The Children’s Place’s total sales growth in the first two quarters of $49.8 million.

 

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