SECAUCUS, N.J.--(BUSINESS WIRE)--Dec. 2, 2004--The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced total sales of $118.7 million for the four-week period ended November 27, 2004, a 47% increase compared to sales of $81.0 million reported for November 2003. November sales included one week of sales, totaling $23.3 million, from the business of the Disney Store in the United States and Canada, which The Children's Place acquired as of November 21, 2004. Comparable store sales for The Children's Place stores increased 9%, on top of a 14% increase in the same period last year. During the month, the Company opened 13 Children's Place stores.

Total sales for the forty-three weeks ended November 27, 2004, increased 26% to $814.1 million from $644.3 million last year. Comparable store sales for The Children's Place stores increased 14% versus a 3% increase for the same period last year. Year-to-date, the Company has opened 58 Children's Place stores, and closed two.

"We are pleased with our November sales results, especially during the important fourth week of November when we achieved a 10% comparable store sales increase on top of last year's 22% increase," said Ezra Dabah, Chairman and Chief Executive Officer of The Children's Place. "The Children's Place continues to experience strong sales momentum and increased customer traffic, as more consumers are embracing our brand. At the Disney Store, robust sales during Thanksgiving week were driven by strong consumer demand for Incredibles and Disney Princess merchandise."

In conjunction with the November sales release, you are invited to listen to the Company's pre-recorded monthly sales call, which will be available beginning at 7:30 a.m. Eastern Time today through Thursday, December 9, 2004. To access the call, please dial (402) 220-1182, or you may listen through the Investor Relations section of the Company's website, www.childrensplace.com.

The Children's Place Retail Stores, Inc. is a leading specialty retailer of children's merchandise, ages newborn to ten years old. The Company designs, contracts to manufacture and sells high quality, value-priced apparel and accessories under the "The Children's Place" brand name. As of November 27, 2004, the Company operated 747 Children's Place stores, including 689 stores in the United States, 55 stores in Canada and three stores in Puerto Rico. The Company also sells Children's Place merchandise through its virtual store, www.childrensplace.com. In November 2004, the Company acquired the subsidiary that operates the business of the Disney Stores in North America, which consists of 298 stores in the United States and 15 stores in Canada.

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
             Investor Relations:
             Heather Anthony, 201-558-2865

    SOURCE: The Children's Place