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): January 21,
2009
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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):
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o
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
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Item
8.01
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Other
Events
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On
January 21, 2009, The Children’s Place Retail Stores, Inc. (the “Company”)
announced its plans to relocate its e-commerce business from its Secaucus, New
Jersey distribution center to the Company’s Southeast distribution center in
Fort Payne, Alabama in June 2009 and the elimination of approximately 350
employee positions at the Secaucus facility as a result of such
relocation. A copy of the press release is being furnished as Exhibit
99.1 to this Current Report on Form 8-K.
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 the
Company’s 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.
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Item
9.01
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Financial
Statement and Exhibits.
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(d)
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Exhibits.
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Exhibit 99.1
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Press
release, dated January 21, 2009 (Exhibit 99.1 is furnished as part of this
Current Report on Form 8-K).
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2
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: January 21,
2009
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THE
CHILDREN’S PLACE RETAIL
STORES, INC.
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By:
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/s/ Charles K. Crovitz | ||
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Name: Charles K.
Crovitz
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Title: Interim Chief Executive
Officer
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FOR IMMEDIATE
RELEASE
THE
CHILDREN’S PLACE RETAIL STORES, INC. ANNOUNCES
RELOCATION
OF E-COMMERCE BUSINESS
Secaucus, New Jersey – January 21,
2009 – The Children’s Place Retail Stores, Inc. (Nasdaq: PLCE) today
announced that it plans to relocate its rapidly growing e-commerce business from
its Secaucus, New Jersey distribution center to the Company’s Southeast
distribution center in Fort Payne, Alabama in June 2009.
“Our
e-commerce sales increased by approximately 60% this year on top of a 35%
increase last year, and we have outgrown the available space in our Secaucus
headquarters building,” commented Mark Rose, Senior Vice President and Chief
Supply Chain Officer for The Children’s Place. “By moving the
e-commerce business to our Southeast distribution center, we expect to be able
to fully automate our fulfillment operations and have ample room to expand in
the future as the online business continues to grow.”
The
Company announced the move to its e-commerce employees earlier this
week. Approximately 350 positions at the Secaucus facility will be
eliminated by the planned move.
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 January 3, 2009, the Company
owned and operated 921 The Children’s Place stores and an online store at www.childrensplace.com.
This press release may contain certain
forward-looking statements regarding future circumstance, including statements
relating to the growth of the e-commerce business. 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 other elements of the
Company’s strategic review. Readers 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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