Children’s Place CEO Purchases Shares as Stock Struggles


Children’s Place stock (ticker: PLCE) has faced challenges this year, reaching a year-to-date low in early June. However, there are signs of optimism as President and CEO Jane Elfers recently bought a block of shares in the apparel retailer.

In late May, Children’s Place shares experienced a sharp decline following a disappointing fiscal first-quarter report, which revealed a wider-than-expected loss and revised guidance. Elfers acknowledged the difficulties in a press release, attributing them to “record inflation and tempered consumer sentiment” that created a challenging macroeconomic environment. The stock continued to slide, reaching an intraday low of $14.27 on June 1, a level unseen since April 2020.

To bolster its financial position and support future growth, Children’s Place announced on June 5 that it had expanded its revolving-credit facility from $350 million to $445 million. This move aimed to address seasonal working-capital needs and investments.

Despite recent gains, Children’s Place shares are still down approximately 30% for the year. However, Elfers remains confident in the company’s potential and expressed her faith by purchasing an additional 43,000 shares on July 5 for $1 million. With this latest acquisition, Elfers now owns a total of 370,033 shares.

At this time, Children’s Place has not responded to requests for comment from Elfers. Her last open-market purchase of Children’s Place stock occurred in December 2019 when she bought 272,488 shares for $1 million.

Inside Scoop is a regular feature that covers stock transactions made by corporate executives, board members, significant shareholders, politicians, and other prominent figures. These individuals are required to disclose their stock trades with regulatory groups such as the Securities and Exchange Commission (SEC).

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