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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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 8, 2006
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THE CHILDREN'S PLACE RETAIL STORES, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 0-23071 31-1241495
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(State or other jurisdiction (Commission (IRS Employer ID
of incorporation) File Number) Number)
915 Secaucus Road, Secaucus, New Jersey 07094
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(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (201) 558-2400
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Not Applicable
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(Former name or former address, if changed since last report)
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:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors of Principal Officers; Election of Directors;
Appoint of Principal Officers.
(b) As discussed below in Item 8.01, it was announced today that Hiten
Patel, the Company's Senior Vice President and Chief Financial Officer, will be
leaving the Company following the filing of the Company's 2005 Form 10-K, which
the Company anticipates will be no later than mid-April. Mr. Patel will continue
to serve as the Company's Chief Financial Officer until the date of his
departure.
Item 8.01 Other Events
On March 8, 2006, The Children's Place Retail Stores, Inc. issued a press
release announcing that Susan Riley will be joining the Company as Senior Vice
President - Finance and that Ms. Riley is expected to become the Company's chief
financial officer once the Company's 2005 Form 10-K is completed and filed with
the Securities and Exchange Commission. Hiten Patel, currently Senior Vice
President and Chief Financial Officer of the Company, will be leaving the
Company following the filing of the 2005 Form 10-K. A copy of the Company's
press release is included as Exhibit 99.1.
Item 9.01 Exhibits
(a) Exhibits:
99.1 Press Release dated March 8, 2006.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
THE CHILDREN'S PLACE RETAIL STORES, INC.
By: /s/ Ezra Dabah
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Name: Ezra Dabah
Title: Chairman & Chief Executive Officer
Dated: March 8, 2006
INDEX TO EXHIBITS
Current Report on Form 8-K
dated March 8 2006
The Children's Place Retail Stores, Inc.
99.1 Press Release dated March 8, 2006.
Exhibit 99.1
Susan Riley to Become Chief Financial Officer
of the Children's Place Retail Stores, Inc.
SECAUCUS, N.J.--(BUSINESS WIRE)--March 8, 2006--The Children's Place Retail
Stores, Inc. (Nasdaq: PLCE) announced today that Susan Riley, 47, is joining the
Company as Senior Vice President, Finance on March 13, 2006. It is expected that
Ms. Riley will ultimately assume the role of Chief Financial Officer, replacing
Hiten Patel who will be leaving the Company to pursue other interests. To ensure
a smooth and orderly transition, Mr. Patel is staying with the Company through
the filing of its fiscal 2005 Form 10-K, which the Company anticipates will be
no later than mid-April. It is expected that Ms. Riley will assume the role of
Chief Financial Officer immediately thereafter and will report directly to Ezra
Dabah, Chairman and Chief Executive Officer.
Ms. Riley most recently served as Chief Financial Officer of Klinger
Advanced Aesthetics. Prior to that, Ms. Riley served as Senior Vice President,
Chief Financial Officer of Abercrombie & Fitch. Before Abercrombie & Fitch, Ms.
Riley served as Chief Financial Officer of The Mount Sinai Medical Center in New
York. Previously in her career, Ms. Riley held the Chief Financial Officer
position at both the Dial Corporation and at Tambrands, Inc. Ms. Riley earned
her Bachelor of Science from Rochester Institute of Technology, holds an MBA
from Pace University and is a CPA.
"Sue is an excellent addition to our management team and brings a wealth of
industry and large company expertise to The Children's Place. I am confident
that under Sue's leadership, we will continue the process of creating a world
class finance organization which will serve as a strong and necessary backbone
to our rapidly growing business," stated Mr. Dabah. "Hiten has been a great
asset to our team over the past year and has helped execute our transition into
becoming a larger organization. We thank him for his contributions and wish him
the very best in his future endeavors."
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 February 25, 2006, the
Company owned and operated 802 The Children's Place stores and 316 Disney Stores
in North America and its online store, www.childrensplace.com.
This press release 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 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