Activist hedge funds Barington Capital Group LP and Macellum Advisors GP LLC are urging specialty retailer the Children's Place Inc to improve its operating results and to explore a potential sale, the funds said in a letter addressed to the company's board.The investors, who own a combined 2 percent of the Secaucus, New Jersey-based retailer, say the company should look at improvements in its sales and margins, inventory management and capital allocation. They also called on Children's Place to add new independent directors to address executive compensation packages, which they believe are too high.Children's Place could more than double its earnings per share within the next three years under the right management team, the investors said.The company's share price, which has increased 12 percent in the last year, has underperformed peers like Carter's Inc as well as the broader retail market, the investors added.
Carter?s, Inc. (Carter?s) is a marketer of apparel for babies and young children in the United States. Shares of CRI fell by 1.41% or $-1.25/share to $87.60. In the past year, the shares have traded as low as $67.57 and as high as $91.27. On average, 616002 shares of CRI exchange hands on a given day and today's volume is recorded at 637892.
Childrens Place Inc. (Children's Place), formerly The Children's Place Retail Stores, Inc. Shares of PLCE fell by 0.41% or $-0.24/share to $57.88. In the past year, the shares have traded as low as $44.54 and as high as $64.16. On average, 447777 shares of PLCE exchange hands on a given day and today's volume is recorded at 539469.
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