<SUBMISSION>
<ACCESSION-NUMBER>0001179110-04-021858
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20041118
<FILING-DATE>20041122
<DATE-OF-FILING-DATE-CHANGE>20041122
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>CHILDRENS PLACE RETAIL STORES INC
<CIK>0001041859
<ASSIGNED-SIC>5651
<IRS-NUMBER>311241495
<FISCAL-YEAR-END>0131
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>915 SECAUCUS RD
<CITY>SECAUCUS
<STATE>NJ
<ZIP>07094
<PHONE>2015582400
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>915 SECAUCUS RD
<CITY>SECAUCUS
<STATE>NJ
<ZIP>07094
</MAIL-ADDRESS>
</ISSUER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>SK Investment Fund, L.P.
<CIK>0001289173
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-23071
<FILM-NUMBER>041161027
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>262 HARBOR DRIVE
<CITY>STAMFORD
<STATE>CT
<ZIP>06902
<PHONE>(203) 708-6600
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>262 HARBOR DRIVE
<CITY>STAMFORD
<STATE>CT
<ZIP>06902
</MAIL-ADDRESS>
</REPORTING-OWNER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-11-18</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001041859</issuerCik>
        <issuerName>CHILDRENS PLACE RETAIL STORES INC</issuerName>
        <issuerTradingSymbol>PLCE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001289173</rptOwnerCik>
            <rptOwnerName>SK Investment Fund, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>262 HARBOR DRIVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>STAMFORD</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06902</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-11-18</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>21777</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>31.11</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>21224</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <ownerSignature>
        <signatureName>/s/ Allan Karp</signatureName>
        <signatureDate>2004-11-22</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
