<SUBMISSION>
<ACCESSION-NUMBER>0001144204-09-014654
<TYPE>5
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20090131
<FILING-DATE>20090317
<DATE-OF-FILING-DATE-CHANGE>20090317
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>SILVERSTEIN STANLEY
<CIK>0001055164
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>5
<ACT>34
<FILE-NUMBER>000-23071
<FILM-NUMBER>09688917
</FILING-VALUES>
<MAIL-ADDRESS>
<STREET2>ONE DODGE DR
<CITY>WEST CALDWELL
<STATE>NJ
<ZIP>07006
</MAIL-ADDRESS>
</REPORTING-OWNER>
<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>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>v143143_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2009-01-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001055164</rptOwnerCik>
            <rptOwnerName>SILVERSTEIN STANLEY</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O THE CHILDREN'S PLACE RETAIL STORES,</rptOwnerStreet1>
            <rptOwnerStreet2>915 SECAUCUS ROAD</rptOwnerStreet2>
            <rptOwnerCity>SECAUCUS</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07094</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2008-10-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6000</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2928880</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>376443</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Distribution of shares to trust beneficiary.</footnote>
        <footnote id="F2">These shares are held by trusts or custodial accounts for the benefit of Mr. Silverstein's children and grandchildren of
 which Mr. Silverstein's wife is a trustee and as to which she has voting control.  Mr. Silverstein disclaims beneficial
 ownership of these shares.</footnote>
        <footnote id="F3">Includes 371,443 shares held in Mr. Silverstein's own name and 5,000 shares held in Mr. Silverstein's profit sharing account.
  Does not include 5,254 shares acquired by Mr. Silverstein on February 1, 2009 which are reported in the Form 4 filed with
 the Securities and Exchange Commission on February 3, 2009 as that transaction occurred after the end of The Children's
 Place Retail Stores, Inc.'s fiscal year.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Lenwood Ross, as Attorney-In-Fact for Stanley Silverstein</signatureName>
        <signatureDate>2009-03-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
