SECAUCUS, N.J., May 9, 2002 (BUSINESS WIRE) -- The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced sales of $51.2 million for the four-week period ended May 4, 2002, a 3% decrease from sales of $52.7 million for the same period last year.

Comparable store sales for the four-week period decreased 20% versus a strong 10% increase in April 2001. The Company opened 7 new stores during the month.

Total sales for the first quarter ended May 4, 2002 increased 8% to $173.0 million from $160.5 million reported in the year-ago period. Comparable store sales for the quarter decreased 11%. During the quarter, the Company opened 34 new stores, bringing the total store count to 554.

In conjunction with The Children's Place April sales release, you are invited to listen to the Company's pre-recorded April sales call with Seth Udasin, Chief Financial Officer, which will be available beginning at 7:30 a.m. Eastern Time today through May 15, 2002. To access the call, please visit the following web address: http://www.childrensplace.com or dial (402) 220-0680.

The Children's Place plans to report first quarter results, along with the Company's financial outlook, on May 16, 2002. The Company will host a conference call on that date to be broadcast live via webcast at 10:00 a.m. Eastern Time. Participants can access the webcast via the Company's website: www.childrensplace.com. An archive of the webcast will be available one hour after the live call has taken place and through May 23, 2002.

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 May 4, 2002, the Company operated 554 stores in 47 states. The Company also sells its merchandise through its virtual store located at www.childrensplace.com.

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 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.

CONTACT:          The Children's Place Retail Stores, Inc., Secaucus  
                  Seth Udasin, 201/558-2409                            
                  or
                  Morgen-Walke Associates, Inc., New York
                  Suzanne Rosenberg/Ankit Goyal             
                  Media: Laura Novak/Stephanie Sampiere     
                  212/850-5600                            


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