The Children’s Place is expanding store closures amidst a rise in same store sales, as it continues its e-commerce push. Expected closures will expand by another 100 doors, bringing total expected store closures to 300 stores by 2020, and the company warns this number may increase. E-commerce penetration is already close to 20%, according to the retailer.
The apparel retailer saw comparable retail sales jump 6.9% in Q4 2016. It also recently announced its $250 million share repurchase program and increased the company’s quarterly dividend from $0.20 per share to $0.40 per share.
