The Children’s Place cut its full-year profit forecast citing increased promotions after Superstorm Sandy devastated the East Coast. The children’s clothing retailer, which is based in Secaucus, NJ, saw its inventory rise in the aftermath of the storm, particularly in its outlet business, and expects to aggressively promote its products to clear through the inventory […]
The Children’s Place cut its full-year profit forecast citing increased promotions after Superstorm Sandy devastated the East Coast. The children’s clothing retailer, which is based in Secaucus, NJ, saw its inventory rise in the aftermath of the storm, particularly in its outlet business, and expects to aggressively promote its products to clear through the inventory in the fourth quarter.
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