Children’s Place (PLCE) has broken beyond my $100 target and is currently trading above that price after announcing a very weak first quarter.

As I anticipated, investors would eventually look past the disruption that the liquidation of Gymboree is causing to earnings. However, a lot of the expected improvement is now discounted in the stock. And with the risk that management could be overestimating the company’s outlook from the Gymboree liquidation, now looks like a good time to move on. Sell PLCE. I hope to have a replacement shortly.

If you are an Inner Circle subscriber following the Model Portfolio, sell PLCE.