UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 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): July 11, 2007
THE
CHILDREN’S PLACE RETAIL STORES, INC.
(Exact
name of registrant as specified in charter)
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Delaware
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0-23071
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31-1241495
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(State
or Other Jurisdiction
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(Commission
File
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(IRS
Employer
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of
Incorporation)
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Number)
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Identification
No.)
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915
Secaucus Road, Secaucus, New Jersey, 07094
(Address
of Principal Executive Offices) (Zip Code)
(201)
558-2400
(Registrant’s
telephone number, including area code)
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)
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| o |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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| o |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b))
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| o |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange
Act (17 CFR 240.13e-4(c))
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Item
8.01 Other Events
On
July
11, 2007, The Children’s Place Retail Stores, Inc., (the “Company”) issued a
press release containing its sales results for the five-week period ended July
7, 2007, and reiterated (i) guidance for its second quarter ending on
August 4, 2007, and (ii) when it anticipates becoming current with its
quarterly
and annual filings with the Securities and Exchange Commission.
A
copy of
the Company’s press release is included as Exhibit 99.1 hereto.
Item
9.01 Financial Statements and Exhibits
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Financial
Statements of Business Acquired: Not applicable
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(b)
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Pro
Forma Financial Information: Not applicable
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(c)
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Exhibits:
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99.1
Press
Release dated July 11, 2007.
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[SIGNATURE
BLOCK FOLLOWS]
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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THE
CHILDREN’S PLACE RETAIL STORES, INC.
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| By: | /s/ Susan Riley | |
| Name: |
Susan
Riley
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Title:
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Executive
Vice President, Finance
and
Administration
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Dated:
July 11, 2007
FOR
IMMEDIATE RELEASE
THE
CHILDREN’S PLACE RETAIL STORES, INC. REPORTS FINAL JUNE SALES
~
Consolidated Sales Up 2% ~
~
Consolidated Comparable Store Sales Down 4% ~
Secaucus,
New Jersey - July 11, 2007 - The Children’s Place Retail Stores, Inc. (Nasdaq:
PLCE)
today
announced sales of $155.4 million for the five-week period ended July 7, 2007,
a
2% increase compared to sales of $151.7 million for the five-week period ended
July 1, 2006. Consolidated comparable store sales decreased 4% compared to
last
year’s 15% increase.
Total
Sales (millions):
|
June
2007 |
June
2006 |
%
Increase |
Year-to-Date
2007 |
Year-to-Date
2006 |
%
Increase |
|||||||||||||||
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The
Children’s Place brand
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$
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99.7
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$
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98.3
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1
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%
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$
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547.7
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$
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499.9
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10
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%
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Disney
Store
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$
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55.7
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$
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53.4
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4
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%
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$
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214.4
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$
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191.1
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12
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%
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Total
Company
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$
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155.4
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$
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151.7
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2
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%
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$
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762.1
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$
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691.0
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10
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%
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Comparable
Store Sales Increase/(Decrease):
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June
2007
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June
2006
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Year-to-Date
2007
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Year-to-Date
2006
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|||||||||
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The
Children’s Place brand
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(4
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)%
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16
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%
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2
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%
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12
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%
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|||||
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Disney
Store
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(3
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)%
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12
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%
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4
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%
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16
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%
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|||||
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Total
Company
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(4
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)%
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15
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%
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2
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%
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13
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%
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As
previously announced, due to the extra week in fiscal 2006, the Company’s fiscal
2007 comparable store sales have shifted by one week as compared to the
corresponding period of fiscal 2006. References made today and going forward
regarding last year’s comparable store sales results, in view of the shift, will
be on the “adjusted” basis. For a breakdown of the Company’s fiscal 2006
comparable store sales on an “as reported” and “as adjusted” basis, please refer
to the Company’s March 8, 2007, press release.
As
announced on July 9, 2007, the Company anticipates reporting a loss per share
of
approximately $(0.94) to $(0.98) for the second fiscal quarter ending August
4,
2007. This loss per share range includes approximately $2.0 million, pre-tax,
in
costs paid or accrued in association with the Company’s previously disclosed
stock option investigation and related expenses.
Further,
as stated in the Company’s press release on July 9, 2007, at this time, the
Company anticipates becoming current in its quarterly and annual filings with
the Securities and Exchange Commission by the end of August.
-
more
-
PLCE:
June 2007 Sales Release
Page
2
In
conjunction with today’s June 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 Wednesday, July 18, 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 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 July 7, 2007, the Company
owned and operated 876 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
###