Children’s Location shares soared Wednesday right after the business reported encouraging fourth-quarter benefits and complete-calendar year direction.
The retailer also announced that it will double its quarterly dividend from twenty cents to 40 cents for every share.
Shares leaped extra than eighteen percent in early afternoon trade, for gains of extra than 70 percent about the previous 12 months.
The children’s apparel retailer reported altered quarterly earnings of $1.88 for every share, up 58 percent calendar year-about-calendar year and over the $1.fifty nine a share estimate from analysts polled by Thomson Reuters. Nevertheless, revenue of $520.eight million missed the $522.two million forecast.
Exact same-store profits jumped 6.nine percent for the quarter, marginally better than the 6.eight percent analysts predicted, according to FactSet.
The business also gave 2017 direction over estimates. Children’s Location claimed it expects altered earnings for every share concerning $6.50 and $6.55, very well over the Reuters consensus forecast of $5.85 a share.