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)
|
August
3, 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 of
incorporation)
|
(Commission
File
Number)
|
(IRS
Employer ID 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))
|
On
August
3, 2006, The Children’s Place Retail Stores, Inc. (the “Company”) issued a press
release announcing certain financial information for the month and fiscal
quarter ended July 29, 2006, as well as the Company’s updated outlook for fiscal
2006. A copy of the Company’s press release is included as Exhibit 99.1
hereto.
Item
9.01 Financial Statements and Exhibits
| (a) |
Financial
Statements of Business Acquired: Not
applicable
|
| (b) |
Pro
Forma Financial Information: Not
applicable
|
| (c) |
Exhibits:
|
| 99.1 |
Press
Release dated August 3, 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. | ||
| |
|
|
| Date: August 3, 2006 | By: | /s/ Susan Riley |
|
|
||
|
Name:
Susan Riley
Title:
Senior Vice President, Chief Financial
Officer
|
||
EXHIBIT
99.1
FOR
IMMEDIATE RELEASE
THE
CHILDREN’S PLACE RETAIL STORES, INC. REPORTS JULY SALES UP
28%;
COMPARABLE
STORE SALES UP 15%
~
Company Anticipates Second Quarter Loss of $(0.54) to $(0.56) Per Share and
Increases
Fiscal 2006 EPS Guidance to $2.85 to $2.95 ~
~
Comparable Store Sales at The Children’s Place Brand Increased 16%
~
~
Comparable Store Sales at Disney Store Increased 14% ~
Secaucus,
New Jersey - August 3, 2006 - The Children’s Place Retail Stores, Inc. (Nasdaq:
PLCE)
today
announced sales results for the four-week period ended July 29, 2006.
Total
sales for the four-week period ended July 29, 2006 increased 28% to $131.1
million compared to $102.8 million last year. Consolidated comparable store
sales increased 15%. During July, the Company opened two Children’s Place stores
and one Disney Store.
Total
Sales (millions):
|
July
2006
|
July
2005
|
%
Increase
|
Second
Quarter
2006
|
Second
Quarter
2005
|
%
Increase
|
Year-to-Date
2006
|
Year-to-Date
2005
|
%
Increase
|
||||||||||||||||||||
|
The
Children’s Place brand
|
$
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91.5
|
$
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71.7
|
28
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%
|
$
|
269.4
|
$
|
215.3
|
25
|
%
|
$
|
591.5
|
$
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495.9
|
19
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%
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||||||||||
|
Disney
Store
|
$
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39.6
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$
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31.1
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27
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%
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$
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126.2
|
$
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103.4
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22
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%
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$
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230.7
|
$
|
192.0
|
20
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%
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||||||||||
|
Total
Company
|
$
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131.1
|
$
|
102.8
|
28
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%
|
$
|
395.6
|
$
|
318.7
|
24
|
%
|
$
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822.2
|
$
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687.9
|
20
|
%
|
||||||||||
Comparable
Store Sales Increase:
|
July
2006
|
July
2005
|
Second
Quarter
2006
|
Second
Quarter
2005
|
Year-to-Date
2006
|
Year-to-Date
2005
|
||||||||||||||
|
The
Children’s Place brand
|
16
|
%
|
8
|
%
|
16
|
%
|
4
|
%
|
11
|
%
|
9
|
%
|
|||||||
|
Disney
Store
|
14
|
%
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N/A
|
15
|
%
|
N/A
|
15
|
%
|
N/A
|
||||||||||
|
Total
Company
|
15
|
%
|
N/A
|
16
|
%
|
N/A
|
12
|
%
|
N/A
|
||||||||||
“We
are
pleased to see our strong sales momentum continue into July, closing off a
strong first half for The Children’s Place and Disney Store brands,” said Ezra
Dabah, Chairman and Chief Executive Officer of The Children’s Place Retail
Stores, Inc. “We are also encouraged by the initial favorable customer response
to our Back-to-School offerings at both brands and we are especially pleased
with the continued strength at Disney Store.”
The
Company stated that it anticipates reporting a second quarter loss of $(0.54)
to
$(0.56) per share including equity compensation expense of approximately $3
million pre tax. The Company has increased its fiscal 2006 earnings per share
guidance to $2.85 to $2.95 including equity compensation expense of
approximately $14 million pre tax.
-
more
-
PLCE:
July 2006 Sales Release
Page
2
In
conjunction with today’s July 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, August 10, 2006. 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
Company plans to report full second quarter results on Thursday, August 17,
2006. The Company will host a conference call on that date to be broadcast
live
via webcast at 10:00 a.m. Eastern Time. Please note the time of the conference
call has changed to 10:00 a.m. Eastern Time from 9:00 a.m. Eastern Time.
Interested parties can access the webcast via the Company’s website,
www.childrensplace.com.
An
archive of the webcast can be accessed one hour after the live call has
concluded and will be available through Thursday, August 24, 2006.
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 July 29, 2006, the Company
owned and operated 822 The Children’s Place stores and 320 Disney Stores in
North America and The Children’s Place online store at 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.
|
Susan
Riley, Chief Financial Officer, (201) 558-2400
Susan
LaBar, Investor Relations Analyst, (201) 453-6955
###