The Children's Place Retail Stores, Inc. Reports August Sales
SECAUCUS, N.J.--(BUSINESS WIRE)--Sept. 1, 2005-- The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced total consolidated sales of $126.2 million for the four-week period ended August 27, 2005, a 46% increase compared to sales of $86.5 million reported for August 2004. August sales were comprised of $98.0 million in sales from The Children's Place, a 13% increase over last year, and $28.2 million in sales from Disney Store. Comparable store sales for The Children's Place stores increased 4%, on top of a 21% increase for the same period last year. During August, the Company opened four Children's Place stores and closed one. The Company also opened two Disney Stores.
Total consolidated sales for the thirty weeks ended August 27, 2005, were $814.1 million, a 62% increase compared to sales of $501.5 million reported for the same period last year. Sales for the thirty weeks were comprised of $594.0 million from The Children's Place, an 18% increase over last year, and $220.1 million in sales from the Company's Disney Store business. Comparable store sales for The Children's Place stores increased 8%, on top of a 15% increase in the same period last year. Through August 27, 2005, the Company has opened 24 Children's Place stores and closed three. In addition, the Company has opened four Disney Stores and closed one.
"We are pleased with our August comparable store sales results, especially in light of the heat wave experienced across the U.S. for the majority of the month," said Ezra Dabah, Chairman and Chief Executive Officer of The Children's Place Retail Stores, Inc. "The Children's Place brand continues to take hold and has further established itself as a key back-to-school destination. At Disney Store, the sell-through rates of our back-to-school assortment are encouraging, giving us further confidence in the future success of this brand."
In conjunction with The Children's Place August 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, September 8, 2005. To access the call, please dial (402) 220-1182, or you may listen through the Investor Relations section of the Company's website, www.childrensplace.com.
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 August 27, 2005, the Company owned and operated 771 The Children's Place stores and 309 Disney Stores in North America and its online store, www.childrensplace.com.
This press release and above referenced 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.
CONTACT: The Children's Place
Heather Anthony, 201-558-2865
SOURCE: The Children's Place Retail Stores, Inc.