Children's Place Inc. /zigman2/quotes/201350452/composite PLCE +0.88% said Monday that it sales for the first quarter fell 38% to $254 million, below the FactSet consensus of $303 million for the quarter. The children's apparel retail says digital demand surged 400% through May 16, and as of late April, the company has used 85% of its stores to fulfill orders. Children's Place is scheduled to announce first-quarter earnings on June 11. The company has $72 million in cash and equivalents, no long-term debt and $235 million outstanding on its $360 million revolving credit facility. The company will reopen stores across 10 states on Tuesday, including Idaho, Mississippi and both North and South Dakota. More than 40% of the company's stores are in states that have not been authorized for reopening. Stores that do reopen will take measures to prevent the spread of coronavirus including reduced store hours, partitions at checkout and temporary closures of restrooms, fitting rooms and water fountains. Children's Place stock was up 2.8% in Monday premarket trading, but has plunged nearly 71% over the last year. The S&P 500 index /zigman2/quotes/210599714/realtime SPX +0.33% is up 0.2% for the past 12 months.