Secaucus, New Jersey - March 8, 2001 - The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced sales of $42.8 million for the four-week period ended March 3, 2001, a 30% increase over sales of $32.8 million reported for February 2000. Comparable store sales for the four-week period decreased 5% versus a 10% increase for the restated fiscal 2000 period ended March 4, 2000. In addition, the Company reported 17 new store openings during the month.

In conjunction with The Children's Place February Sales Release, you are invited to listen to the Company's pre-recorded February sales call with Seth Udasin, Chief Financial Officer and Treasurer.The call will be available beginning at 8:00 am Eastern Time on March 8, 2001 through March 15, 2001. To access the call, please visit the following web address: http://www.childrensplace.com/Info/CompanyInfo.jsp or dial (703) 326-3020, access code #5040219.

The Children's Place Retail Stores, Inc. is a leading specialty retailer of high quality, value-priced apparel and accessories for children, newborn to age twelve. The Company designs, contracts to manufacture and sells its products under the The Children's Place brand name. As of March 3, 2001, the Company operated 417 stores in 43 states.

This press release and above reference 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.