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): July 9, 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
7.01 Regulation FD Disclosure.
On July
9, 2009, The Children’s Place Retail Stores, Inc. (the “Company”) issued a press
release containing the Company's sales results for the five-week period ended
July 4, 2009. A copy of the press release is attached 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 under this Item 7.01 of 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 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.
Item
9.01 Financial Statement and Exhibits.
| (d) | Exhibits | |
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Exhibit 99.1
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Press
release, dated July 9, 2009, issued by the Company (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: July
9, 2009
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THE
CHILDREN’S PLACE RETAIL
STORES,
INC.
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By:
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/s/ Susan J. Riley | |
| Name: | Susan J. Riley | ||
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Title:
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Executive
Vice President, Finance
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| and Administration | |||
3
FOR IMMEDIATE
RELEASE
THE
CHILDREN’S PLACE RETAIL STORES, INC. REPORTS JUNE SALES
Secaucus, New Jersey – July 9, 2009 –
The Children’s Place Retail Stores, Inc. (Nasdaq: PLCE) today announced
net sales of $111.9 million for the five-week period ended July 4, 2009, a 9%
decline compared to net sales of $123.0 million for the five-week period ended
July 5, 2008. Comparable retail sales, which include online sales,
declined 12% in June 2009 following an 18% increase for the same period last
year. During June 2009, comparable store sales declined 15% in the U.S. and
declined 5% in Canada, while online sales increased 17%. The Company noted that in the year ago
period, the timing of the summer floor sets and promotions was accelerated due
to the early Easter holiday, and the fall preview line was set earlier, which
had the effect of shifting a larger portion of second quarter 2008 sales into
May and June. The Company reverted to its traditional calendar in
2009.
The
Company opened 10 stores during June 2009.
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June
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Fiscal
Year-to-Date
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Net
Sales:
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2009
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2008
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2009
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2008
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- In
Millions
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$ |
111.9
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$ |
123.0
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$ |
615.5
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$ |
632.6
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- Change
vs. Year Ago
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-9%
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+23%
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-3%
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+16%
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Comparable
Retail Sales:
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- Change
vs. Year Ago
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-12% | +18% | -3% | +9% | ||||||||||||
In conjunction with today’s June 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, July 16, 2009. To access the recording, please
visit the Investor Relations section of the Company’s website at http://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” brand name. As of July 4, 2009, the Company owned
and operated 936 The Children’s Place stores and an 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. 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 annual report on Form 10-K for the fiscal year
ended January 31, 2009. Included among the risks and
uncertainties that could
cause actual results,
events and performance to differ materially are the risk that the Company will be
unsuccessful in gauging fashion trends and changing consumer preferences, and
the risks 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. 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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