FOR IMMEDIATE
RELEASE
THE
CHILDREN’S PLACE RETAIL STORES, INC. REPORTS DECEMBER SALES
Secaucus, New Jersey – January 8,
2009 – The Children’s Place Retail Stores, Inc. (Nasdaq: PLCE) today
announced net sales of $204.6 million for the five-week period ended January 3,
2009, a 2% increase compared to net sales of $199.9 million for the five-week
period ended January 5, 2008. Consolidated comparable store sales
were flat this December compared to a 6% increase in December 2007. Comparable
store sales in the U.S. increased 2% during December 2008 on top of a 4%
increase in December 2007; and comparable store sales in Canada increased 6% in
local currency during December 2008 on top of a 2% increase in December 2007.
During December 2008, the Company opened one store and closed one.
|
|
December
|
Fiscal
Year-to-Date
|
|
Net
Sales:
- In
Millions
- Change
vs. Year Ago
|
2008
|
2007
|
2008
|
2007
|
|
$204.6
+2%
|
$199.9
+1%
|
$1,550.1
+8%
|
$1,438.0
+9%
|
|
Comparable
Store Sales:
- Change
vs. Year Ago
|
0%
|
+6%
|
+3%
|
+2%
|
In
conjunction with today’s December sales release, you are invited to listen to
the Company’s pre-recorded monthly sales call, which will be available beginning
at 7:30 a.m. Eastern Time today through Thursday, January 15,
2009. To access the call, please dial 1-800-283-4641 or you may
listen through the Investor Relations section of the Company’s website, www.childrensplace.com.
The
Children’s Place Retail Stores, Inc. is a leading specialty retailer of
children’s merchandise. The Company designs, contracts to manufacture
and sells high-quality, value-priced merchandise under the proprietary “The
Children’s Place” brand name. As of January 3, 2009, the Company
owned and operated 921 The Children’s Place stores and an online store at www.childrensplace.com.
This
press release (and above referenced call) may contain certain forward-looking
statements regarding future circumstances. These forward-looking statements are
based upon the Company's current expectations and assumptions and are subject to
various risks and uncertainties that could cause actual results to differ
materially. Some of these risks and uncertainties are described in
the Company's filings with the Securities and Exchange Commission, including in
the “Risk Factors” section of its report on Form 10-K. The following risks and
uncertainties could cause actual results, events and performance to differ
materially: the risk that the Company will be unsuccessful in gauging fashion
trends and changing consumer preferences, the risk resulting from the highly
competitive nature of the Company’s business and its dependence on consumer
spending patterns, which may be affected by the downturn in the economy,
and risks and uncertainties relating to other elements of the
Company’s strategic review. Readers (or listeners on the call) are
cautioned not to place undue reliance on these forward-looking statements, which
speak only as of the date they were made. The Company undertakes no obligation
to release publicly any revisions to these forward-looking statements that may
be made to reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events. The inclusion of any statement in this
release does not constitute an admission by the Company or any other person that
the events or circumstances described in such statement are
material.
|
CONTACT:
|
The
Children’s Place Retail Stores, Inc.
Jane Singer, Vice President, Investor Relations,
(201) 453-6955
|
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