3rd Quarter 1998 Sales Release
West Caldwell, New Jersey - November 5, 1998 -- The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) today announced sales of $82.5 million for the third quarter ended October 31, 1998, an increase of 51% from sales of $54.5 million for the same period last year. Comparable store sales for the third quarter increased 18% as compared with flat comparable sales for the third quarter of 1997.
For the thirty-nine weeks ended October 31, 1998, the Company's sales were $186.5 million, an increase of 47% over sales of $127.2 million for the same period in 1997. The Company's year-to-date comparable store sales increased 12% compared to a 1% increase in the prior-year period.
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 October 31, 1998, the Company operated 203 stores located primarily in regional shopping malls in the eastern half of the United States.