** Children's Place PLCE.O plunges 22.7% to $5.30 premarket
** Apparel retailer reported 9.6% y/y drop in Q1 net sales; posts adjusted net loss/share of $1.52 vs year-ago loss of $1.18
** Says results pressured by current macroeconomic environment, including softer consumer sentiment, particularly unseasonable weather patterns
** CEO says management moving with urgency to remediate
** Adds, "We are currently entering the back-to-school selling season with a more balanced inventory position"
** Notes co well-positioned to offset impact of tariffs, maintain affordable products as no single country accounts for more than 20% of total sourcing and due to limited exposure to China
** PLCE falls ~34% this year, as of last close
(Reporting by Neil J Kanatt in Bengaluru)
((Neil.JKanatt@thomsonreuters.com;))
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