FOR IMMEDIATE
RELEASE
THE
CHILDREN’S PLACE REPORTS AUGUST SALES
Secaucus, New Jersey – September 3,
2009 – The Children’s Place Retail Stores, Inc. (Nasdaq: PLCE) today
announced net sales of $138.7 million for the four-week period ended August 29,
2009, a 4% decline compared to sales of $145.1 million for the four-week period
ended August 30, 2008. Comparable retail sales, which include online sales,
declined 8% in August 2009 following a 1% increase for the same period last
year. During August 2009, comparable store sales declined 10% in the U.S. and
declined 11% in Canada, while online sales increased 44%.
During
August 2009, the Company opened four stores.
|
|
August
|
Year-to-Date
|
|
Net
Sales:
- In
Millions
- Change
vs. Year Ago
|
2009
|
2008
|
2009
|
2008
|
|
$138.7
-4%
|
$145.1
+3%
|
$856.3
-3%
|
$883.3
+12%
|
|
Comparable
Retail Sales:
- Change
vs. Year Ago
|
-8%
|
+1%
|
-4%
|
+7%
|
In
conjunction with today’s August 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, September 10, 2009. To
access the recording, please visit the Investor Relations section of the
Company’s website at www.childrensplace.com.
About
The Children’s Place Retail Stores, Inc.
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 August 29, 2009, the Company
owned and operated 941 The Children’s Place stores and an online store at www.childrensplace.com.
Forward-Looking
Statements
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 annual report on Form 10-K for the fiscal year
ended January 31, 2009. Included among the risks and uncertainties that could
cause actual results, events and performance to differ materially are the risk
that the Company will be unsuccessful in gauging fashion trends and changing
consumer preferences, and the risks 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. 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.
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CONTACT:
|
The
Children’s Place Retail Stores, Inc.
Jane Singer, Vice President, Investor Relations,
(201) 453-6955
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