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):
December
19, 2007
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THE
CHILDREN’S PLACE RETAIL STORES,
INC.
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(Exact
Name of Registrants as Specified in Their
Charters)
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Delaware
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(State
or Other Jurisdiction of
Incorporation)
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0-23071
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31-1241495
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(Commission
File Number)
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(IRS
Employer Identification No.)
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915
Secaucus Road, Secaucus, New
Jersey
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07094
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(Address
of Principal Executive
Offices)
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(Zip
Code)
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(201)
558-2400
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(Registrant’s
Telephone Number, Including Area
Code)
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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 (see
General
Instruction A.2. below):
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
5.02 Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers
(b)
The
Children’s Place Retail Stores, Inc. today announced that effective December 19,
2007, Neal Goldberg, President of The Children’s Place brand, resigned, from his
position to pursue another business opportunity. Mr. Chuck Crovitz, Interim
Chief Executive Officer of The Children’s Place Retail Stores, Inc., will
directly oversee the responsibilities and management team of The Children’s
Place brand until a permanent replacement for Mr. Goldberg is named.
A
copy of a press release relating to the foregoing is attached hereto as Exhibit
99.1 and is incorporated in this Item 5.02 by reference.
Item
9.01 Financial
Statement and Exhibits.
(d)
Exhibits.
Exhibit
99.1 Press
Release of The Children’s Place Retail Stores, Inc. dated December 20,
2007
2
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly cause this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| Date: December 20, 2007 | ||
| THE CHILDREN’S PLACE RETAIL STORES, INC. | ||
| |
|
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| By: | /s/ Susan J. Riley | |
| Name: | Susan J. Riley | |
| Title: | Executive Vice President, Fianance and Administration | |
3
EXHIBIT
INDEX
| Exhibit No. |
Description
|
|
| 99.1 | Press Release of The Children’s Place Retail Stores, Inc. dated December 20, 2007 |
4
FOR
IMMEDIATE RELEASE
THE
CHILDREN’S PLACE RETAIL STORES, INC. ANNOUNCES
RESIGNATION
OF NEAL GOLDBERG
Secaucus,
New Jersey - December 20, 2007 - The Children’s Place Retail Stores, Inc.
(Nasdaq: PLCE) today
announced that Neal Goldberg, President of The Children’s Place brand, has
resigned from his position to pursue another business opportunity. Mr. Chuck
Crovitz, Interim Chief Executive Officer of The Children’s Place Retail Stores,
Inc., will directly oversee the responsibilities and management team of The
Children’s Place brand until a permanent replacement for Mr. Goldberg is named.
“We
thank
Neal for his service and contribution to our Company over the past four years
and wish him well in his future endeavors. We have a deep and talented team
of
managers and associates running The Children’s Place and I have confidence in
their ability to achieve our goals for the brand. In addition, the team will
be
working closely with me on operational initiatives as we strive to maximize
the
Company’s long-term potential,” said Chuck Crovitz, Interim Chief Executive
Officer of The Children's Place Retail Stores, Inc.
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 December 1, 2007, the
Company owned and operated 911 The Children’s Place stores and 330 Disney Stores
in North America and its online stores at www.childrensplace.com
and
www.disneystore.com.
This
press release 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
restatement of the Company's historical financial information, the Company’s
historical stock option granting practices and other historical practices
identified as material weaknesses as described in the Company’s filings on
December 5, 2007, the delays in filing the Company's periodic reports with
the
Securities and Exchange Commission, the delays in scheduling of the Company’s
2007 shareholder meeting, 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. Actual results, events, and performance
may differ. Readers 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.
Investors:
Jane Singer, Investor Relations, 201/453-6955
Media:
Cara O’Brien/Leigh Parrish, FD, 212/850-5600
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