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): March 5, 2009
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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))
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Item
7.01
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Regulation
FD Disclosure
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On March
5, 2009, 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
February 28, 2009 and an update to its outlook for earnings per share from
continuing operations for the fourth quarter and fiscal year ended January 31,
2009. A copy of the press release is being furnished as Exhibit 99.1
to this Current Report on Form 8-K.
In accordance with General Instructions
B.2 of Form 8-K, the information in this Current Report on Form 8-K, including
Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the
Securities Exchange Act of 1934, as amended, or otherwise subject to the
liability of that section, nor shall it be deemed incorporated by reference in
any filing under the Securities Act of 1933, as amended, except as shall be
expressly set forth by specific reference in such a filing.
Forward Looking
Statements
This Current Report on Form 8-K,
including Exhibit 99.1, contains forward-looking statements made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. Forward-looking statements typically are identified by use of
terms such as “may,” “will,” “should,” “plan,” “expect,” “anticipate,”
“estimate” and similar words, although some forward-looking statements are
expressed differently. Forward-looking statements represent the
Company’s management’s judgment regarding future events. Although the
Company believes that the expectations reflected in such forward-looking
statements are reasonable, the Company can give no assurance that such
expectations will prove to be correct. All statements other than
statements of historical fact included in this Current Report on Form 8-K are
forward-looking statements. The Company cannot guarantee the accuracy
of the forward-looking statements, and you should be aware that the Company’s
actual results could differ materially from those contained in the
forward-looking statements due to a number of factors, including the statements
under the heading “Risk Factors” contained in the Company’s filings with the
Securities and Exchange Commission.
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Item
9.01
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Financial
Statement and Exhibits.
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(d)
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Exhibits
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Exhibit
99.1
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Press
release, dated March 5, 2009, issued by the Company regarding the
Company's sales results for the four-week period ended February 28, 2009
and an update to its outlook for earnings per share from continuing
operations for the fourth quarter and fiscal year ended January 31, 2009
(Exhibit 99.1 is furnished as part of this Current Report on Form
8-K).
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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.
Date: March
5, 2009
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THE
CHILDREN’S PLACE RETAIL STORES,
INC.
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By:
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/s/ Susan J.
Riley
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Name:
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Susan
J. Riley
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Title:
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Executive
Vice President, Finance
and
Administration
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FOR IMMEDIATE
RELEASE
THE
CHILDREN’S PLACE RETAIL STORES, INC. REPORTS FEBRUARY SALES
Secaucus, New Jersey – March 5, 2009
– The Children’s Place Retail Stores, Inc. (Nasdaq: PLCE) today announced
net sales of $110.4 million for the four-week period ended February 28, 2009, a
1% decrease compared to net sales of $111.4 million for the four-week period
ended March 1, 2008.
Consolidated
comparable retail sales for February 2009 were flat on top of a 9% increase in
February 2008. U.S. comparable store sales declined 3% for the fiscal month of
February 2009 on top of an 8% increase for the same period last year; Canadian
comparable store sales increased 2% in February 2009 on top of a 1% decline for
the same period last year; and e-commerce sales increased 50% during February
2009 on top of a 61% increase for the same period last year.
The
Company did not open or close any stores during February 2009.
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February
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2009
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2008
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Net
Sales:
- In
Millions
- Change
vs. Year Ago
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$110.4
-1%
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$111.4
+16%
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Consolidated
Comparable Retail Sales*:
- Change
vs. Year Ago
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0%
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+9%
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*Note, as previously announced,
beginning February 2009, the Company is reporting consolidated comparable
retail sales based on constant dollars and including e-commerce sales. A
chart comparing monthly consolidated comparable retail sales results based
on the new methodology and “as reported” for fiscal years 2006, 2007 and
2008, was included in the Company’s January sales release issued February
5, 2009.
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The
Company now expects that earnings per share from continuing operations for the
fourth quarter and fiscal year 2008 will be at the high end of the estimated
ranges provided in its February 5, 2009 press release.
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 12, 2009. To access the
call, dial 800-677-6124 or you may listen through the Investor Relations section
of the Company’s website, www.childrensplace.com.
The
Children’s Place Retail Stores, Inc. plans to report fourth quarter and fiscal
year 2008 earnings results on Thursday, March 19, 2009. The Company will host a
conference call that day at 10:00 a.m. Eastern Time. Interested parties are
invited to listen to the call by dialing 800-862-9098 and providing the
Conference ID, PLCE. The call will also be web cast 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 26, 2009. To access the replay,
dial 800-374-0328 or you may listen to the audio archive on the Company’s
website.
-more-
PLCE
– February 2009 Sales Release
Page
2
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” brand name. As of February 28, 2009, the Company owned and operated 917
The Children’s Place stores and an online store at www.childrensplace.com.
This
press release (and above referenced calls) may contain certain forward-looking
statements regarding future circumstances. These forward-looking statements,
including statements regarding earnings per share from continuing operations for
the fourth quarter and fiscal year of 2008, 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. Some of these
risks and uncertainties are described in the Company's filings with the
Securities and Exchange Commission, including in the “Risk Factors” section of
its report on Form 10-K. The following risks and uncertainties could cause
actual results, events and performance to differ materially: the risk that the
Company will be unsuccessful in gauging fashion trends and changing consumer
preferences, and the risk resulting from the highly competitive nature of the
Company’s business and its dependence on consumer spending patterns, which may
be affected by the downturn in the economy. Readers (or listeners on the calls)
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date they were made. 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.
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CONTACT:
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The
Children’s Place Retail Stores, Inc.
Jane Singer, Vice President, Investor
Relations, (201) 453-6955
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