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 5,
2009
THE
CHILDREN’S PLACE RETAIL STORES, INC.
(Exact
Name of Registrants as Specified in Their Charters)
Delaware
(State
or Other Jurisdiction of Incorporation)
|
0-23071
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31-1241495
|
|
(Commission File
Number)
|
(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
November 5, 2009, 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 fiscal quarter ended October 31, 2009, and a preliminary
range for earnings per share from continuing operations for the third fiscal
quarter ended October 31, 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 November 5, 2009, issued by the
Company.
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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
5, 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 | ||
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Title:
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Executive
Vice President, Finance
and Administration
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||
FOR IMMEDIATE
RELEASE
THE
CHILDREN’S PLACE REPORTS OCTOBER AND THIRD QUARTER 2009 SALES
Provides
Preliminary Estimated Range for Third Quarter 2009 Earnings Per
Share
Secaucus, New Jersey – November 5,
2009 – The Children’s Place Retail Stores, Inc. (Nasdaq: PLCE) today
announced net sales of $149.8 million for the four-week period ended October 31,
2009, a 3% increase compared to net sales of $144.9 million for the four-week
period ended November 1, 2008. Comparable retail sales, which include
online sales, declined 2% in October 2009 following a 10% increase for the same
period last year. During October 2009, comparable store sales declined 5% in the
U.S. and declined 3% in Canada, while online sales increased 36%.
For the
third quarter ended October 31, 2009, net sales increased 3% to $463.2 million.
Comparable retail sales, which include online sales, declined 2% in the third
quarter of fiscal 2009 following a 4% increase for the same period last year.
During the third quarter of fiscal 2009, comparable store sales declined 4% in
the U.S. and declined 5% in Canada, while online sales increased
44%.
The
Company opened eight stores during October 2009 and 13 stores during the third
quarter of fiscal 2009. Fiscal year-to-date, the Company has opened 34 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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||||
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Total
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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2009
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2008
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$149.8
+3%
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$144.9
+9%
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$463.2
+3%
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$450.6
+5%
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$1,180.8
-1%
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$1,188.9
+10%
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|
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Comparable
Store Sales:
- Change
vs. Year Ago
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-2%
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+10%
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-2%
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+4%
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-3%
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+6%
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Outlook
The
Company is estimating that earnings per share from continuing operations for the
third quarter of fiscal 2009 will be in the range of $1.35-$1.39.
Conference
Call Information
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 12, 2009. To access the
recording, please visit the Investor Relations section of the Company’s website
at www.childrensplace.com.
The
Company will discuss details on the quarter when it reports third quarter
earnings results on Thursday, November 19, 2009. The Company will host a
conference call that day at 10:00 a.m. Eastern Time which will be broadcast live
and can be accessed through the Investor Relations section of the Company’s
website. An audio archive will be available approximately one hour after the
conclusion of the call.
-more-
PLCE
– October and Third Quarter 2009 Sales
Page
2
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 31, 2009, the Company owned and operated 950
The Children’s Place stores and an online store at www.childrensplace.com.
Forward-Looking
Statements
This
press release may contain certain forward-looking statements regarding future
circumstances, including estimates regarding earnings per share from continuing
operations for the third quarter of fiscal 2009. 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
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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###