The Children’s Place, Inc. reported second-quarter revenue of $241.8 million, down 18.9% year over year and below the analyst estimate of $252.09 million. Adjusted loss was $0.82 per diluted share, wider than the consensus loss of $0.62, sending shares down 10.9% after the announcement. Direct-to-consumer sales declined 15.0% because of lower traffic, while comparable retail sales in owned and operated stores fell 16.7%. The transition of e-commerce operations to Salesforce took longer than anticipated, adding to pressure on sales alongside weaker conversion, customer-file stabilization efforts and a clearance-heavy mix. The retailer opened 19 stores, the most in a quarter since 2013, and ended with 514 locations. Adjusted gross margin rose 60 basis points to 34.6%, helped by $39 million in tariff refunds; excluding that benefit, gross margin fell 1,550 basis points because of higher markdowns, tariffs and inventory reserves. Inventory declined 23.2% to $340.2 million, while total liquidity was $79.7 million.