EXHIBIT 23.1
 
                         CONSENT OF ARTHUR ANDERSEN LLP
 
    After the stock split of the Company described in Note 15 to the Company's
Financial Statements is effected, we expect to be in a position to render the
following consent.
 
   
                                          /S/ ARTHUR ANDERSEN LLP
    
 
New York, New York
 
September 2, 1997
 
                   CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
 
To The Children's Place Retail Stores, Inc.:
 
As independent public accountants, we hereby consent to the use of our report
dated        , 1997 (and to all references to our Firm) included in or made a
part of this Registration Statement on Form S-1.
 
New York, New York
 
            , 1997