Secaucus, New Jersey - November 4, 1999 - The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) today announced sales of $119.4 million for the third quarter ended October 30, 1999, an increase of 45% from sales of $82.5 million for the same period last year. Comparable store sales for the third quarter increased 15%, as compared to an 18% increase for the third quarter of 1998.

For the thirty-nine weeks ended October 30, 1999, the Company's sales were $286.0 million, an increase of 53% over sales of $186.5 million for the same period in 1998. The Company's year-to-date comparable store sales increased 21% compared to a 12% increase in the prior-year period.

The Children's Place Retail Stores, Inc. is a leading specialty retailer of high quality, value-priced apparel and accessories for children, newborn to age twelve. The Company designs, contracts to manufacture and sells its products under the “The Children's Place” brand name. As of October 30, 1999 the Company operated 282 stores located primarily in regional shopping malls in the eastern half of the United States.