West Caldwell, New Jersey - May 6, 1999 -- The Children's Place Retail Stores, Inc. (NASDAQ: PLCE) today announced record sales of $92.6 million for the first quarter ended May 1, 1999, an increase of 65% from sales of $56.0 million for the same period last year. Comparable store sales for the first quarter increased 32%, as compared with a 7% increase for the first quarter of 1998.

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 May 1, 1999, the Company operated 239 stores located primarily in regional shopping malls in the eastern half of the United States.