Secaucus, New Jersey - November 9, 2000 - The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) today reported record sales and earnings for the third quarter and nine months ended October 28, 2000.
Third Quarter

• Net sales for the quarter increased 39% to $165.8 million, compared with $119.4 million for the same period in 1999.
• Comparable store sales increased 5% for the quarter, on top of a 15% increase for the same period last year.
• Net earnings were $16.8 million, up 32% from $12.7 million a year earlier.
• Diluted earnings per share increased to $0.63 compared with $0.48 in the 1999 period.
• The Company opened 21 new stores during the third quarter.

Nine Months

• Net sales for the nine-month period increased 41% to $403.5 million from $286.0 million in the same period in 1999.
• Comparable store sales increased 6% for the period, on top of a 21% increase for the same period last year.
• Net earnings were $27.7 million, up 29% from $21.5 million a year earlier.
• Diluted earnings per share increased to $1.04 compared with $0.81 in the 1999 period.
• The Company opened 100 new stores during the nine month period.

The Company also announced that beginning with November it will report monthly sales results.

Ezra Dabah, Chairman and CEO, commented, "We are very pleased with the Company's strong performance in the third quarter. Once again, it is exciting to note that our new stores continue to outperform our plan. At the current sales rate, we anticipate that our new stores will exceed last year's 93% return on investment. This impressive return allows the Company to internally fund our planned growth as we continue to develop into a dominant player in our niche apparel market."

Mr. Dabah concluded, "As we enter the fourth quarter, our inventory is very well positioned. Our holiday merchandise is fresh and timely, and is supported by very strong and well-planned marketing and promotional activity."

The Children's Place will host a webcast of its third quarter earnings conference call today at 10:00 a.m., Eastern Standard Time. Investors and the media are invited to listen to the call at the Company's Web site at www.childrensplace.com/CompanyInfo.jsp. An archive of the webcast will be available on the same site.

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 28, 2000, the Company operated 392 stores in 42 states and also sells its merchandise through its World Wide Web site located at www.childrensplace.com

This press release and above reference 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 from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Company's filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. 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 hereof. We undertake 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 Children's Place or any other person that the events or circumstances described in such statement are material.