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): October 8,
2009
THE
CHILDREN’S PLACE RETAIL STORES, INC.
(Exact
Name of Registrants as Specified in Their Charters)
Delaware
(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
(Registrant’s
Telephone Number, Including Area Code)
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 (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
October 8, 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 October 3, 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.
Item 8.01 Other
Events.
On October 8, 2009, the Company
announced its plans to automate portions of its e-commerce fulfillment
operations in its distribution center located in Fort Payne,
Alabama. A copy of the press release pursuant to which the Company
announced such plans is attached 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.
Item
9.01 Financial Statement
and Exhibits.
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(d)
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Exhibits
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Exhibit99.1
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Press
release, dated October 8, 2009, issued by The Children’s Place Retail
Stores, Inc.
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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: October
8, 2009
| THE CHILDREN’S PLACE RETAIL STORES, INC. | |||
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By:
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/s/ Susan J. Riley | |
| Name: Susan J. Riley | |||
| Title: Executive Vice President, Finance and Administration | |||
3
FOR IMMEDIATE
RELEASE
THE
CHILDREN’S PLACE REPORTS SEPTEMBER SALES
Announces
Plans to Automate Portions of E-Commerce Operations in Alabama Distribution
Center
Secaucus, New Jersey – October 8,
2009 – The Children’s Place Retail Stores, Inc. (Nasdaq: PLCE) today
announced net sales of $174.7 million for the five-week period ended October 3,
2009, an increase of 9% compared to sales of $160.7 million for the five-week
period ended October 4, 2008. Comparable retail sales, which include online
sales, increased 4% in September 2009 on top of a 1% increase for the same
period last year. During September 2009, comparable store sales increased 2% in
the U.S. and declined 1% in Canada, while online sales increased
54%.
During
September 2009, the Company opened one store.
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September
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Year-to-Date
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Net
Sales:
- In
Millions
- Change
vs. Year Ago
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2009
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2008
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2009
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2008
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$174.7
+9%
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$160.7
+2%
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$1,031.0
-1%
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$1,044.0
+11%
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Comparable
Retail Sales:
- Change
vs. Year Ago
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+4%
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+1%
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-3%
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+6%
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The
Company also announced plans to automate portions of its e-commerce fulfillment
operations in its distribution center located in Fort Payne, Alabama. The total
cost of the implementation is estimated to be $20 million, with approximately
one-third of the capital expenditure expected to be incurred during fiscal 2009
and the remaining two-thirds expected to be incurred in the first half of fiscal
2010. The Company anticipates it will finalize the implementation and begin
utilizing the automated distribution system during the second quarter of fiscal
2010.
In
conjunction with today’s September 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, October 15,
2009. To access the recording, please visit the Investor Relations
section of the Company’s website at www.childrensplace.com.
About
The Children’s Place Retail Stores, Inc.
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 October 3, 2009, the Company
owned and operated 942 The Children’s Place stores and an online store at www.childrensplace.com.
Forward-Looking
Statements
This
press release (and above referenced call) may contain certain forward-looking
statements regarding future circumstances, including statements regarding the
total cost and timing of implementation of plans to automate portions of the
Company’s e-commerce fulfillment operations in the Fort Payne, Alabama
distribution center. 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.
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CONTACT:
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The
Children’s Place Retail Stores, Inc.
Jane Singer, Vice President, Investor Relations,
(201) 453-6955
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