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)
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May
4, 2006
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THE
CHILDREN'S PLACE RETAIL STORES, INC.
(Exact
name of registrant as specified in its
charter)
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DELAWARE
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0-23071
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31-1241495
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||
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(State
or other jurisdiction of
incorporation)
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(Commission
File
Number)
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(IRS
Employer ID Number)
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915
Secaucus Road, Secaucus, New Jersey
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07094
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||
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant's
Telephone Number, including area code:
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(201)
558-2400
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Not
Applicable
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(Former
name or former address, if changed since last report)
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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:
|
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
|
[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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|
[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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On
May 4,
2006, The Children’s Place Retail Stores, Inc. (the “Company”) issued a press
release announcing certain financial information for the month and fiscal
quarter ended April 29, 2006, as well as the Company’s updated outlook for
fiscal 2006. 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:
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| 99.1 |
Press
Release dated May 4, 2006.
|
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. | ||
| |
|
|
| Date: May 4, 2006 | By: | /s/ Steven Balasiano |
|
Steven Balasiano |
||
| Senior Vice President, Chief Administrative Officer, General Counsel and Secretary | ||
FOR
IMMEDIATE RELEASE
THE
CHILDREN’S PLACE RETAIL STORES, INC. REPORTS APRIL
COMPARABLE
STORE SALES UP 22%
~
Comparable Store Sales at The Children’s Place Brand Increased 19%
~
~
Comparable Store Sales at Disney Store Increased 34% ~
~
Company Anticipates First Quarter EPS of $0.48 to $0.50 Including Equity
Compensation Expense;
Increases
Fiscal 2006 EPS Guidance ~
Secaucus,
New Jersey - May 4, 2006 - The Children’s Place Retail Stores, Inc. (Nasdaq:
PLCE)
today
announced sales results for the four-week period ended April 29, 2006.
|
·
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Total
consolidated sales increased 29% to $139.2 million, compared to
sales of
$107.7 million reported for April 2005. April sales included $104.2
million from The Children’s Place brand, a 27% increase compared to last
year’s sales of $82.2 million, and $35.0 million from Disney Store,
a 37%
increase compared to last year’s sales of $25.5 million.
|
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·
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Consolidated
comparable store sales increased 22% in April.
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·
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The
Children’s Place brand’s comparable store sales increased 19% on top of
last year’s 8% increase.
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·
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Disney
Store’s comparable store sales increased 34%.
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·
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Consolidated
comparable store sales during the Easter selling season, comprised
of
March and April, increased 13%. For the same period, comparable
store
sales for The Children’s Place brand increased 12% on top of last year’s
9% increase. Disney Store’s comparable store sales increased 15% during
the Easter selling season.
|
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·
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During
April, the Company opened five Children’s Place stores and closed
one.
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First
Quarter
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·
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Total
consolidated sales for the first quarter ended April 29, 2006,
increased
16% to $426.5 million, compared to sales of $369.2 million reported
for
the same period last year. Sales for the first quarter included
$322.0
million from The Children’s Place brand, a 15% increase compared to last
year’s sales of $280.6 million, and $104.5 million from Disney Store,
an
18% increase compared to last year’s sales of $88.5
million.
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·
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Consolidated
comparable store sales increased 9% for the first quarter.
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·
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The
Children’s Place brand’s comparable store sales increased 8% on top of
last year’s 13% increase.
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·
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Disney
Store’s comparable stores sales increased 14%.
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·
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During
the quarter, the Company opened eight Children’s Place stores and closed
one. In addition, the Company closed one Disney
Store.
|
The
Company stated that based on strong results at both brands it anticipates
first
quarter earnings per share including equity compensation expense of $0.48
to
$0.50, or $0.54 to $0.56 per share excluding equity compensation expense.
The
Company’s earnings per share expectations include approximately $1.2 million,
pre-tax, in severance and related expenses. In addition, the Company has
increased its consolidated fiscal 2006 earnings per share guidance including
equity compensation expense to $2.77 to $2.87 or $3.10 to $3.20 excluding
equity
compensation expense, representing a $0.10 increase.
-more-
PLCE:
April Sales
Page
2
In
conjunction with The Children’s Place April 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, May 11, 2006. 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 plans to report full first quarter results on Thursday, May 18,
2006. 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, May 25, 2006.
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 April 29, 2006, the
Company owned and operated 809 The Children’s Place stores and 316 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 Retail Stores,
Inc.
|
|
Heather
Anthony, Senior Director, Investor Relations, (201)
558-2865
|
###