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FOR IMMEDIATE RELEASE
THE CHILDREN’S PLACE RETAIL STORES, INC. REPORTS APRIL SALES
Secaucus, New Jersey - May 8, 2008 - The Children’s Place Retail Stores, Inc. (Nasdaq: PLCE) today announced sales of $128.7 million for the four-week period ended May 3, 2008, a 24% increase compared to sales of $104.2 million for the four-week period ended May 5, 2007. Comparable store sales increased 15% compared to last year’s 1% decrease. During the month the Company opened one store and closed one store.
Total Sales (millions):
April 2008 | April 2007 | % Increase | First Quarter 2008 | First Quarter 2007 | % Increase | ||||||||||||||
The Children’s Place | $ | 128.7 | $ | 104.2 | 24 | % | $ | 400.2 | $ | 356.0 | 12 | % |
Comparable Store Sales Increase/(Decrease):
April 2008 | April 2007 | First Quarter 2008 | First Quarter 2007 | ||||||||||
The Children’s Place | 15 | % | (1 | )% | 5 | % | 2 | % |
As a result of the Company’s decision to exit the Disney Store North America (“DSNA”) business, the Company will report the results of the DSNA business as discontinued operations from the beginning of the fiscal year. Therefore, the above sales results reflect The Children’s Place brand only. The discontinued operations will be reflected in the Company’s first quarter press release and Form 10-Q for the first quarter ended May 3, 2008.
In conjunction with today’s April 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, May 15, 2008. To access the call, please dial (402) 220-2661 or you may listen through the Investor Relations section of the Company’s website, www.childrensplace.com.
The Company plans to report first quarter results on Thursday, May 22, 2008. The Company will host a conference call on that date to be broadcast live at 10:00 a.m. Eastern Time. Interested parties are invited to listen to the call by dialing (800) 862-9098 and providing the Conference ID, PLCE. The call will also be webcast live and can be accessed via the Company’s web site, www.childrensplace.com. A replay of the call will be available approximately one hour after the conclusion of the call, until midnight on May 29, 2008. To access the replay, please dial (800) 753-6121, or you may listen to the audio archive on 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 May 3, 2008, the Company owned and operated 906 The Children’s Place stores and its online store at www.childrensplace.com.
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PLCE: April 2008 Sales Release
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CONTACT: | The Children’s Place Retail Stores, Inc. |
Rich Paradise, SVP, Chief Financial Officer, (201) 558-2400 |
Heather Anthony, Senior Director, Investor Relations, (201) 558-2865 |
Media: |
Diane Zappas/Evan Goetz of FD, (212) 850-5600 |