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): April 26, 2010
THE
CHILDREN’S PLACE RETAIL STORES, INC.
(Exact
Name of Registrant as Specified in Charter)
Delaware
(State
or Other Jurisdiction of Incorporation)
|
0-23071
|
31-1241495 | |
| (Commission File Number) | (IRS Employer Identification No.) | |
| 500 Plaza Drive, Secaucus, New Jersey | 07094 | |
| (Address of Principal Executive Offices) | (Zip Code) | |
(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
8.01. Other
Events.
On April
26, 2010, The Children’s Place Retail Stores, Inc. (the “Company”) issued a
press release announcing the the appointment of Natalie Levy as Senior Vice
President, Merchandising; Barrie Scardina as Senior Vice President, Planning and
Allocation; Dina Sweeney as Senior Vice President, Outlets; and Larry McClure as
Senior Vice President, Human Resources. A copy of the press release
is attached as Exhibit 99.1 to this Current Report on Form 8-K and is
incorporated by reference herein.
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
Statements and Exhibits
(d) Exhibits
99.1 Press
Release, dated April 26, 2010.
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: April 26, 2010 | |||
| THE CHILDREN’S PLACE RETAIL STORES, INC. | |||
|
|
By:
|
/s/ Susan J. Riley | |
| Name: Susan J. Riley | |||
|
Title:
Executive
Vice President, Finance and Administration
|
|||
Exhibit 99.1
FOR IMMEDIATE
RELEASE
THE
CHILDREN’S PLACE ANNOUNCES EXECUTIVE APPOINTMENTS
Secaucus, New Jersey – April 26, 2010
– The Children’s Place Retail Stores, Inc. (Nasdaq: PLCE) today announced
the appointment of Natalie Levy as Senior Vice President, Merchandising; Barrie
Scardina as Senior Vice President, Planning and Allocation; Dina Sweeney as
Senior Vice President, Outlets; and Larry McClure as Senior Vice President,
Human Resources. The four executives will report directly to Jane Elfers,
President and Chief Executive Officer.
Ms.
Elfers commented, “In March we announced that the Company is focused on five key
initiatives that we expect will drive sales and profit for 2010 and beyond. Two
of these initiatives – strengthening the merchandise and optimizing inventory
management – are critical to our success. I am delighted that Natalie and Barrie
will be joining The Children’s Place to lead these efforts. They are both highly
experienced and talented retail executives with proven track
records.
“In
addition, we have a tremendous opportunity to improve our outlet experience and
we are very fortunate to have someone of Dina Sweeney’s caliber to step up and
lead this initiative,” Elfers continued. “Our new head of Human Resources, Larry
McClure, has been a great addition to the team. He is focusing on setting the
strategy and direction for the Company’s human resources operations. I look
forward to working with each of these executives and the entire senior
leadership team to implement our strategies and capitalize on the Company’s
strong positioning in the marketplace.”
Natalie
Levy will join the Company on May 3, 2010. Most recently, Ms. Levy held the
position of Senior Vice President, General Merchandise Manager for Ann Taylor.
Prior to that, Ms. Levy spent seven years with Lord & Taylor in positions of
increasing responsibility culminating in her appointment as Senior Vice
President, General Merchandise Manager for Proprietary brands where she had
overall responsibility for merchandising, design and sourcing for the women’s
sportswear, accessories, men’s and children’s departments. Earlier in her
career, she held merchandising positions with Caldor, Mervyn’s and
Macy’s.
Barrie
Scardina will join the Company on May 10, 2010. Ms. Scardina previously held the
position of Vice President of Retail Operations at Liz Claiborne. In that role,
she had responsibility for planning and allocation, supply chain, retail
marketing and store operations for Partnered Brands. Prior to Liz Claiborne, she
held the position of Vice President, Planning, Distribution and Business
Development at Polo Ralph Lauren. Earlier in her career she held positions with
Gucci and Footstar.
Dina
Sweeney, previously Senior Vice President, Merchandising and a 26-year veteran
of The Children’s Place, will take on the newly created position of Senior Vice
President, Outlets. She will be responsible for developing and executing a new
merchandising strategy to drive sales and profits for the Company’s 129 outlet
stores. Ms. Sweeney joined The Children’s Place in 1984 and, after holding
positions of increasing responsibility in merchandising, she led the Company’s
successful expansion into Canada in 2003. Ms. Sweeney also took over
responsibility for the Company’s rapidly-growing e-commerce business in
2006.
Larry
McClure joined the Company on March 8, 2010. Mr. McClure previously served as
Senior Vice President of Human Resources at Liz Claiborne where he helped
establish a global human resources presence within a diverse set of brands.
Prior to that, he held senior human resources leadership roles with The Dexter
Corporation, Aetna and United Technologies.
About
The Children’s Place Retail Stores, Inc.
The
Children’s Place is the largest pure-play children’s specialty apparel retailer
in North America. The Company designs, contracts to manufacture and sells
fashionable, high-quality merchandise at value-prices under the proprietary “The
Children's Place” brand name. As of January 30, 2010, the Company owned and
operated 947 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. 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 30, 2010.
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.
CONTACT:
The Children’s Place Retail Stores, Inc.
Jane Singer, Vice President, Investor Relations, (201)
453-6955
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