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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
__________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (date of earliest event reported) November 3, 2005
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THE CHILDREN'S PLACE RETAIL STORES, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-23071 31-1241495
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(State or other jurisdiction (Commission (IRS Employer ID
of incorporation) File Number) Number)
915 Secaucus Road, Secaucus, New Jersey 07094
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(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (201) 558-2400
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Not Applicable
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition
On November 3, 2005, The Children's Place Retail Stores, Inc. (the
"Company") issued a press release announcing certain financial information for
the month, fiscal quarter and 39-week period ended October 29, 2005, as well as
the Company's updated outlook for fiscal 2005. A copy of the Company's press
release is included as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits
(a) Financial Statements of Business Acquired: Not applicable
(b) Pro Forma Financial Information: Not applicable
(c) Exhibits:
99.1 Press Release dated November 3, 2005.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
THE CHILDREN'S PLACE RETAIL
STORES, INC.
By: /s/ Hiten Patel
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Name: Hiten Patel
Title: Senior Vice President and
Chief Financial Officer
Dated: November 3, 2005
INDEX TO EXHIBITS
Current Report on Form 8-K
dated November 3, 2005
The Children's Place Retail Stores, Inc.
99.1 Press Release dated November 3, 2005.
Exhibit 99.1
The Children's Place Retail Stores, Inc. Reports October Sales;
Total Sales Increased 75%;
Sales from The Children's Place Stores Increased 21%;
October Comparable Stores Sales Increased 13% on Top of Last Year's 21% Increase
SECAUCUS, N.J.--(BUSINESS WIRE)--Nov. 3, 2005--The Children's
Place Retail Stores, Inc. (Nasdaq:PLCE):
-- Company Now Anticipates Third Quarter Earnings Per Share of
$0.90 to $0.91
-- Company Updates Earnings Per Share Guidance for Fiscal 2005 to
$2.25 to $2.30
The Children's Place Retail Stores, Inc. (Nasdaq:PLCE), today
announced total consolidated sales of $154.3 million for the four-week
period ended October 29, 2005, a 75% increase compared to sales of
$88.1 million reported for October 2004. October sales were comprised
of $106.3 million in sales from The Children's Place, a 21% increase
over last year, and $48.0 million in sales from Disney Store.
Comparable store sales for The Children's Place stores increased 13%
on top of a 21% increase for the same period last year. During
October, the Company opened 12 Children's Place stores and three
Disney Stores.
Sales for the third quarter increased 57% to $441.2 million, from
$280.5 million reported in the year ago period. Third quarter sales
were comprised of $320.1 million from The Children's Place, a 14%
increase over last year, and $121.1 million in sales from Disney
Store. The Company estimates total lost sales of approximately $2.3
million for the quarter, from stores closed as a result of Hurricanes
Katrina, Rita and Wilma. Comparable store sales for The Children's
Place increased 6% in the third quarter, on top of last year's 18%
increase. During the third quarter the Company opened 19 Children's
Place stores, and closed one. In addition, the Company opened 13
Disney Stores during the third quarter.
Total consolidated sales for the thirty-nine weeks ended October
29, 2005, were $1,129.1 million, a 62% increase compared to sales of
$695.4 million reported for the same period last year. Sales for the
thirty-nine weeks were comprised of $816.0 million from The Children's
Place, a 17% increase over last year, and $313.1 million from the
Company's Disney Store business. Comparable store sales for The
Children's Place stores increased 8%, on top of a 15% increase in the
same period last year. Through October 29, 2005, the Company has
opened 39 Children's Place stores and closed three. In addition, the
Company has opened 15 Disney Stores and closed one.
"We are pleased with our third quarter results, especially October
sales, as both brands performed well," said Ezra Dabah, Chairman and
Chief Executive Officer of The Children's Place Retail Stores, Inc.
"At Children's Place, our customers continue to turn to us as their
special occasion destination. This, combined with the cooler weather,
propelled our sales during the month. At Disney Store, we have
accomplished much in a short amount of time, and we continue to be
pleased with the guests' favorable response to our merchandise and
pricing strategies. Importantly, both brands are in strong inventory
positions to drive a successful Holiday season."
The Company stated that it now anticipates third quarter
consolidated earnings per share of $0.90 to $0.91, excluding the
finalization of the purchase accounting for the Disney Store
acquisition and certain tax benefits. In addition, the Company updated
its fiscal 2005 earnings guidance to $2.25 to $2.30 per share.
In conjunction with The Children's Place October 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, November 10, 2005. To access the call, please
dial (402) 220-1182, or you may listen through the Investor Relations
section of the Company's Web site, www.childrensplace.com.
The Children's Place plans to report full third quarter results on
Thursday, November 17, 2005. The Company will host a conference call
on that date to be broadcast live via webcast at 9:00 a.m. Eastern
Time. Interested parties can access the webcast via the Company's
website, www.childrensplace.com. An archive of the webcast can be
accessed one hour after the live call has taken place and will be
available through Thursday, November 24, 2005.
The Children's Place Retail Stores, Inc. is a leading specialty
retailer of children's merchandise. The Company designs, contracts to
manufacture and sells high-quality, value-priced merchandise under the
proprietary "The Children's Place" and licensed "Disney Store" brand
names. As of October 29, 2005, the Company owned and operated 786 The
Children's Place stores and 321 Disney Stores in North America and its
online store, 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
Heather Anthony, 201-558-2865