UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 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):
November
6, 2008
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THE
CHILDREN’S PLACE RETAIL STORES,
INC.
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(Exact
Name of Registrants as Specified in Their
Charters)
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Delaware
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(State
or Other Jurisdiction of
Incorporation)
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0-23071
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31-1241495
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(Commission
File Number)
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(IRS
Employer Identification
No.)
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915
Secaucus Road, Secaucus, New
Jersey
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07094
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(Address
of Principal Executive
Offices)
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(Zip
Code)
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(201)
558-2400
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(Registrant’s
Telephone Number, Including Area
Code)
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Not
Applicable
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(Former
Name or Former Address, if Changed Since
Last Report)
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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 (see
General
Instruction A.2. below):
o Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
o Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
7.01 Regulation
FD Disclosure
On
November 6, 2008, The Children’s Place Retail Stores, Inc. (the “Company”)
issued a press release containing the Company's sales results for the four-week
period and the third quarter ended November 1, 2008 and preliminary range for
earnings from continuing operations for the third quarter ended November 1,
2008. A copy of the press release is being furnished as Exhibit 99.1 to this
Current Report on Form 8-K.
In
accordance with General Instructions B.2 of Form 8-K, the information in this
Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed”
for the purposes of Section 18 of the Securities Exchange Act of 1934, as
amended, or otherwise subject to the liability of that section, nor shall it
be
deemed incorporated by reference in any filing under the Securities Act of
1933,
as amended, except as shall be expressly set forth by specific reference in
such
a filing.
Forward
Looking Statements
This
Current Report on Form 8-K, including Exhibit 99.1, contains forward-looking
statements made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements typically are
identified by use of terms such as “may,” “will,” “should,” “plan,” “expect,”
“anticipate,” “estimate” and similar words, although some forward-looking
statements are expressed differently. Forward-looking statements represent
our
management’s judgment regarding future events. Although the Company believes
that the expectations reflected in such forward-looking statements are
reasonable, the Company can give no assurance that such expectations will prove
to be correct. All statements other than statements of historical fact included
in this Current Report on Form 8-K are forward-looking statements. The Company
cannot guarantee the accuracy of the forward-looking statements, and you should
be aware that the Company’s actual results could differ materially from those
contained in the forward-looking statements due to a number of factors,
including the statements under the heading “Risk Factors” contained in the
Company’s filings with the Securities and Exchange Commission.
Item
9.01 Financial
Statement and Exhibits.
| (d) |
Exhibits.
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| Exhibit 99.1 |
Press
release, dated November 6, 2008, issued by the Company regarding
the
Company's sales results for the four-week period and the third quarter
ended November 1, 2008, and preliminary range for earnings for the
third
quarter ended November 1, 2008 (Exhibit 99.1 is furnished as part
of this
Current Report on Form 8-K).
|
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| Date: November 6, 2008 | ||
| THE CHILDREN’S PLACE RETAIL STORES, INC. | ||
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| By: | /s/ Susan J. Riley | |
| Name: | Susan J. Riley | |
| Title: | Executive Vice President, Finance and Administration | |
FOR
IMMEDIATE RELEASE
THE
CHILDREN’S PLACE RETAIL STORES, INC. REPORTS
OCTOBER
AND THIRD QUARTER 2008 SALES
Provides
Preliminary Range for Third Quarter Earnings
Secaucus,
New Jersey - November 6, 2008 - The Children’s Place Retail Stores, Inc.
(Nasdaq: PLCE)
today
announced net sales of $144.9 million for the four-week period ended November
1,
2008, a 9% increase compared to net sales of $133.0 million for the four-week
period ended November 3, 2007. Comparable store sales for October increased
4%
on top of a 2% increase in October 2007.
For
the
third quarter ended November 1, 2008, net sales increased 5% to $450.6 million.
Comparable store sales for the third quarter increased 2% on top of a 1%
increase in the third quarter of 2007.
The
Company opened 11 stores during October 2008. During the third quarter of 2008,
the Company opened 19 stores and closed one.
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October
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3rd
Quarter
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Fiscal
Year-to-Date
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Net
Sales:
-
In Millions
-
Change vs. Year Ago
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2008
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2007
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2008
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2007
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2008
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2007
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$144.9
+9%
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$133.0
+4%
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$450.6
+5%
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$430.6
+8%
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$1,188.9
+10%
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$1,077.1
+9%
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Comparable
Store Sales:
-
Change vs. Year Ago
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+4%
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+2%
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+2%
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+1%
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+5%
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+1%
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In
conjunction with today’s October 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, November 13, 2008. To access
the
call, please dial 1-800-753-8878 or you may listen through the Investor
Relations section of the Company’s website, www.childrensplace.com.
The
Company expects to report earnings per share from continuing operations for
the
third quarter of 2008 in the range of $0.92-$0.95, including one-time transition
services income net of variable expenses of approximately $5.7 million pre-tax for services
being provided to the acquirer of the Disney Store North America business.
Excluding this one-time gain, the Company expects adjusted earnings per share
from continuing operations for the third quarter of 2008 to be in the range
of
$0.81-$0.84. Adjusted earnings per share is a non-GAAP measure which the Company
believes will facilitate comparisons of the past and future performance of
its
core business.
The
Company will discuss details on the quarter when it reports third quarter
earnings results on Thursday, November 20, 2008. The Company will host a
conference call that day which will be broadcast live via webcast at 10:00
a.m.
Eastern Time. Interested parties are invited to listen to the call by dialing
1-800-894-5910 and providing the Conference ID, PLCE. The call will also be
webcast live and can be accessed via the Company’s web site, www.childrensplace.com.
A
replay of the call will be available approximately one hour after the conclusion
of the call, until midnight on November 27, 2008. To access the replay, please
dial 1-800-753-9146 or you may listen to the audio archive on the Company’s
website.
-more-
PLCE
- October and Third Quarter 2008 Sales
Page
2
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” brand name. As of November 1, 2008, the Company owned and operated 920
stores and its online store at www.childrensplace.com.
This
press release (and above referenced call) may contain certain forward-looking
statements, including statements regarding earnings per share from continuing
operations for the third quarter of 2008, 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. Some of these risks and uncertainties
are
described in the Company's filings with the Securities and Exchange Commission,
including in the “Risk Factors” section of its report on Form 10-K. The
following risks and uncertainties could cause actual results, events and
performance to differ materially: the risk that the Company will be unsuccessful
in gauging fashion trends and changing consumer preferences, the risk resulting
from the highly competitive nature of the Company’s business and its dependence
on consumer spending patterns, which may be affected by the downturn in the
economy, and risks and uncertainties relating to the Company’s strategic review.
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 they were
made. The Company undertakes 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 Company or any other person that the events
or
circumstances described in such statement are material.
| CONTACT: |
The
Children’s Place Retail Stores, Inc.
Jane Singer, Vice President,
Investor
Relations, (201) 453-6955
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