Children’s Place Lowers 4Q Profit Expectations due to Markdowns

Children’s Place Retail Stores Inc. lowered its fourth-quarter earning guidance citing aggressive markdowns and higher apparel costs, according to The Wall Street Journal.

Unseasonably warm weather forced the children’s specialty retailer to mark down winter clothing to clear out the inventory, said the company’s chief executive Jane Elfers. She added that in 2012 the company will focus on e-commerce growth, better fashion, improved merchandise assortment in Canada and inventory management to drive sales and margin growth.