SECAUCUS, N.J., Nov 8, 2001 (BUSINESS WIRE) -- The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) today announced sales of $55.3 million for the four-week period ended November 3, 2001, a 16% increase over sales of $47.6 million reported for October 2000.

Excluding sales of the Company's Yaak folding scooter, sales for October 2001 increased 20% over the prior year period. Comparable store sales for the four-week period decreased 4% as compared to a 5% increase for the restated four-week period ended November 4, 2000. Excluding sales of the folding scooter, comparable store sales for October decreased only 1% from the prior year period. The Company opened 17 new stores during October 2001.

Total sales for the thirteen weeks ended November 3, 2001 increased 9% to $181.4 million from $165.9 million reported in the year-ago period. Excluding sales of the Yaak scooter, sales for the third quarter of fiscal 2001 increased 16% over the prior year period. Third quarter comparable store sales decreased 9% versus a 5% increase in the prior year period. Excluding sales of the folding scooter, third quarter comparable store sales decreased 4% from the prior year period.

Total sales for the thirty-nine weeks ended November 3, 2001 increased 13% to $458.2 million from $403.8 million reported in the year-ago period. Year-to-date, excluding sales of the Yaak scooter, sales increased 17% over the prior year period. Comparable store sales for the thirty-nine week period decreased 8% versus a 6% increase in the prior year period. Excluding sales of the folding scooter, year-to-date comparable store sales decreased 6% from the prior year period.

In conjunction with The Children's Place October sales release, you are invited to listen to the Company's pre-recorded October sales call with Seth Udasin, Chief Financial Officer, which will be available beginning at 8:00 a.m. Eastern Time today through November 14, 2001. To access the call, please visit the following web address: http://www.childrensplace.com or dial (402) 220-1549.

The Children's Place plans to report third quarter results, along with the Company's financial outlook, on November 15, 2001.

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 November 3, 2001, the Company operated 513 stores in 46 states. The Company also sells its merchandise through its virtual store located at 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
                  Seth Udasin, 201/558-2409                      
                  or
                  Morgen-Walke Associates, Inc.
                  Suzanne Rosenberg/David Waldman     
                  Media: Claudine Cornelis/Laura Novak
                  212/850-5600