View:
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
--------
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) April 6, 2006
- --------------------------------------------------------------------------------
THE CHILDREN'S PLACE RETAIL STORES, INC.
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
DELAWARE 0-23071 31-1241495
- ------------------------------ ----------- ----------------
(State or other jurisdiction (Commission (IRS Employer ID
of incorporation) File Number) Number)
915 Secaucus Road, Secaucus, New Jersey 07094
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (201) 558-2400
- --------------------------------------------------------------------------------
Not Applicable
- --------------------------------------------------------------------------------
(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 or Principal Officers; Election of Directors;
Appoint of Principal Officers.
(b) The Children's Place Retail Stores, Inc. announced today that Mario
Ciampi, President of Disney Store, will be leaving the Company effective the end
of April 2006.
Item 8.01 Other Events
On April 6, 2006, The Company issued a press release announcing sales
results for the fiscal month March 2006 and nine week period ended April 1, 2006
as well as the announcement that Mario Ciampi, President of Disney Store, will
be leaving the Company effective the end of April 2006. 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 April 6, 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
-------------------------
Name: Ezra Dabah
Title: Chairman and Chief Executive Officer
Dated: April 6, 2006
INDEX TO EXHIBITS
Current Report on Form 8-K
dated April 6, 2006
The Children's Place Retail Stores, Inc.
99.1 Press Release dated April 6, 2006.
Exhibit 99.1
The Children's Place Retail Stores,
Inc. Reports March Sales; Commences Search for President of Disney
Store; Consolidated Comparable Store Sales Increased 6%; Total
Consolidated Sales Increased 12%
SECAUCUS, N.J.--(BUSINESS WIRE)--April 6, 2006--The Children's
Place Retail Stores, Inc. (Nasdaq: PLCE) today announced sales results
for the five-week period ended April 1, 2006.
-- Total consolidated sales increased 12% to $173.4 million,
compared to sales of $154.7 million reported for March 2005.
March sales included $133.2 million from The Children's Place
brand, a 14% increase compared to last year's sales of $116.9
million, and $40.2 million from Disney Store, a 6% increase
compared to last year's sales of $37.8 million.
-- Consolidated comparable store sales increased 6% in March.
-- The Children's Place brand comparable store sales increased 7%
compared to last year's 10% increase.
-- Disney Store comparable stores sales increased 2%. Excluding
media, Disney Store comparable stores sales increased 11%.
-- During March, the Company opened three The Children's Place
stores.
Nine-week Period
-- For the nine-week period ended April 1, 2006, total
consolidated sales increased 10% to $287.3 million, compared
to sales of $261.5 million reported for the same period last
year. Sales for the nine-weeks included $217.9 million from
The Children's Place brand, a 10% increase compared to last
year's sales of $198.4 million, and $69.4 million from Disney
Store, a 10% increase compared to last year's sales of $63.1
million.
-- Consolidated comparable store sales increased 4% for the
nine-week period.
-- The Children's Place brand comparable store sales increased 3%
compared to last year's 15% increase.
-- Disney Store comparable stores sales increased 6%.
-- During the nine-weeks, the Company opened three The Children's
Place stores. In addition, the Company closed one Disney
Store.
"Our March sales results were particularly strong given the Easter
shift into April and the fact that Disney Store was up against last
year's very successful DVD release of The Incredibles," said Ezra
Dabah, Chairman and Chief Executive Officer of The Children's Place
Retail Stores, Inc. "At The Children's Place brand, our momentum was
fueled by strong sales of our Easter dressy assortment for which we
have become famous. At Disney Store, we are pleased with the continued
positive trend of the business."
Separately, the Company announced that Mario Ciampi, President of
Disney Store, is leaving the Company to pursue other interests,
effective the end of April. An active search is underway to fill Mr.
Ciampi's position. In the interim, Ezra Dabah, Chairman and Chief
Executive Officer, will oversee the Disney Store business until a
successor is named.
"Mario has meaningfully contributed to our growth and success over
the years," said Mr. Dabah. "Under Mario's leadership we have
successfully integrated the Disney Store business into The Children's
Place. We thank him for his hard work, dedication and wish him all the
best in his new endeavors."
In conjunction with The Children's Place March 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, April 13, 2006. To access the call, please
dial (800) 642-1687 followed by the Conference ID #7071684, 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 April 1, 2006, the Company owned and operated 805 The
Children's Place stores and 316 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 Retail Stores, Inc.
Heather Anthony, 201-558-2865