May 7, 2009 / 11:58 AM / 9 years ago

UPDATE 1-Children's Place April comps rise

* Q1 adj EPS forecast beats est

* April same-store sales up 5 pct vs est of flat sales

* Online stores same-store sales up 40 pct

* Sees Q1 EPS of 75 cents to 80 cents

May 7 (Reuters) - Children’s Place Retail Stores Inc (PLCE.O) posted a 5 percent rise in April same-store sales, beating market expectations, as sales at its online stores and in the United States more than offset a fall in its Canadian business.

The company also forecast better-than-expected first-quarter earnings.

For the quarter, it sees a profit of 75 cents to 80 cents a share. Excluding a charge, it expects to earn 70 cents to 75 cents a share.

Analysts on average were expecting the company to earn 41 cents a share, excluding special items, according to Reuters Estimates.

Comparable sales, or sales at stores open for at least a year, rose 40 percent at its online stores, and 4 percent in the United States, while they fell 4 percent in its Canadian outlets.

Shares of the company closed at $32.54 Wednesday on Nasdaq. (Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Vinu Pilakkott)

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