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)
|
March
8, 2007
|
THE
CHILDREN'S PLACE RETAIL STORES, INC.
|
(Exact
name of registrant as specified in its charter)
|
|
DELAWARE
(State
or other jurisdiction
of
incorporation)
|
0-23071
(Commission
File
Number)
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31-1241495
(IRS
Employer ID
Number)
|
|
915
Secaucus Road, Secaucus, New Jersey
|
07094
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
|
Registrant's
Telephone Number, including area code:
|
(201)
558-2400
|
|
Not
Applicable
|
|
(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:
|
o
|
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
|
|
o
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
|
|
o
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
|
|
o
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
|
Item
8.01 Other Events
On
March
8, 2007, The Children's Place Retail Stores, Inc. (the “Company”) issued a press
release containing the Company’s sales results for the four-week period ended
March 3, 2007.
A
copy of
the Company’s press release is included as Exhibit 99.1 hereto.
(a) Financial
Statements of Business Acquired: Not applicable
(b) Pro
Forma
Financial Information: Not applicable
(c) Exhibits:
| 99.1 |
Press
Release dated March 8, 2007.
|
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/ Susan Riley | |
|
Name: Susan
Riley, Executive Vice
President,
Finance and
Administration
|
||
FOR
IMMEDIATE RELEASE
THE
CHILDREN’S PLACE RETAIL STORES, INC. REPORTS CONSOLIDATED
FEBRUARY
SALES UP 18%; CONSOLIDATED COMPARABLE STORE SALES UP 5%
Secaucus,
New Jersey –
March 8, 2007 – The
Children’s
Place Retail Stores, Inc. (Nasdaq: PLCE)
today
announced sales of $133.8 million, for the four-week period ended March 3,
2007,
an 18% increase compared to sales of $113.8 million for the four-week period
ended February 25, 2006. Due to the 53rd week in fiscal 2006, February 2007
comps are compared to the four week period ended March 4, 2006. On that basis,
consolidated comparable store sales increased 5% versus 3% last year. During
February, the Company closed one Children’s Place store.
Total
Sales (millions):
|
February
2007
|
February
2006
|
%
Increase
|
||||||||
|
The
Children’s Place brand
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$
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96.0
|
$
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84.7
|
13
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%
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||||
|
Disney
Store
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$
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37.8
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$
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29.1
|
30
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%
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||||
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Total
Company
|
$
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133.8
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$
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113.8
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18
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%
|
||||
Comparable
Store Sales Increase/(Decrease):
|
February
2007
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February
2006
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||||||
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The
Children’s Place brand
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1
|
%
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(2
|
)%
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|||
|
Disney
Store
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16
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%
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19
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%
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|||
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Total
Company
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5
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%
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3
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%
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|||
The
chart
below illustrates monthly comparable store sales results for fiscal 2006
on an
“as reported” basis, as well as on an “adjusted” basis, which is the result of
the additional week in fiscal 2006. Going forward, any reference made to
fiscal
2006 comparable store sales will be on the “adjusted” basis.
|
The
Children’s Place
(as
reported)
|
The
Children’s Place
(adjusted)
|
Disney
Store
(as
reported)
|
Disney
Store
(adjusted)
|
Consolidated
(as
reported)
|
Consolidated
(adjusted)
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|||||||
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February
2006
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(2)%
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(2)%
|
13%
|
19%
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1%
|
3%
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||||||
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March
2006
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7%
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13%
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2%
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5%
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6%
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11%
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||||||
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April
2006
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19%
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20%
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34%
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30%
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22%
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22%
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||||||
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May
2006
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17%
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15%
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22%
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20%
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18%
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16%
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||||||
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June
2006
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15%
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16%
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12%
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12%
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14%
|
15%
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||||||
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July
2006
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16%
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9%
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14%
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16%
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15%
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10%
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||||||
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August
2006
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10%
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16%
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21%
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23%
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12%
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17%
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||||||
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September
2006
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23%
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20%
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12%
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7%
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20%
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16%
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||||||
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October
2006
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12%
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10%
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6%
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9%
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10%
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9%
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||||||
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November
2006
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7%
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5%
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23%
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17%
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12%
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8%
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||||||
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December
2006
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3%
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4%
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7%
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10%
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5%
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6%
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||||||
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January
2007
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(6)%
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(7)%
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27%
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27%
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3%
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2%
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||||||
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Total
Year
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10%
|
10%
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14%
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14%
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11%
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11%
|
-
more
-
PLCE:
February 2007 Sales Release
Page
2
In
conjunction with today’s February 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, March 15, 2007. 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 preliminary fourth quarter and fiscal 2006
results on Thursday, March 15, 2007. The Company will host a conference call
on
that date to be broadcast live at 10:00 a.m. Eastern Time. Interested parties
are invited to listen to the call by dialing (785) 830-7975 and providing the
Conference ID, PLCE. The call will also be webcast live and can be accessed
via
the Company’s web site, www.childrensplace.com.
A
replay of the call will be available approximately one hour after the conclusion
of the call, until midnight on March 22, 2007. To access the replay, please
dial
(402) 220-0428, or you may listen to the audio archive on the Company’s website,
www.childrensplace.com.
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 March 3, 2007, the Company
owned and operated 865 The Children’s Place stores and 328 Disney Stores in
North America and The Children’s Place online store 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, as well as the risks and
uncertainties relating to the Company's stock option grants and procedures
and
the recently completed investigation by the special committee of the Company’s
Board of Directors, the previously announced pending restatement of the
Company’s historical financial statements, the delays in filing the Company’s
periodic reports with the Securities and Exchange Commission, the outcome of
the
informal investigation of the Company being conducted by the Securities and
Exchange Commission, potential other governmental proceedings, the
shareholder litigation commenced against the Company and certain of its officers
and directors,
and
the potential impact of each
of these matters on the Company, as well as matters relating to the Company’s
discussions with The Walt Disney Company. 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. The Company undertakes 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 Company 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
Susan
LaBar, Manager, Investor Relations, (201) 453-6955
###