SECAUCUS, N.J., Mar 6, 2003 (BUSINESS WIRE) -- The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced sales of $44.3 million for the four-week period ended March 1, 2003, an 8% decrease compared to sales of $48.2 million reported for February 2002.

Comparable store sales for the four-week period decreased 24% as compared to an 8% decrease in the prior year period.

"On our year end conference call last week, we mentioned that our current merchandise reflects a more focused and better balanced assortment with an emphasis on style, quality and value," said Ezra Dabah, Chairman and Chief Executive Officer. "As the year progresses, we will further improve our product offering and deliver the unique and coordinated merchandise that our customers expect from The Children's Place. While our results have not yet caught up with our efforts, we are confident that our strategic initiatives will result in a solid foundation for long term, sustainable growth."

In conjunction with The Children's Place February 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, March 13, 2003. To access the call, please dial (402) 220-1182, or you may listen through the Investor Relations section of the Company's website, http://www.childrensplace.com.

The Children's Place Retail Stores, Inc. is a leading specialty retailer of high quality, value-priced apparel and accessories for children, newborn to age twelve. The Company designs, contracts to manufacture and sells its products under the "The Children's Place" brand name. As of March 1, 2003, the Company operated 643 stores, including 615 stores in the United States and 28 stores in Canada. The Company also sells its merchandise through its virtual store located 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 from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Company's filings with the Securities and Exchange Commission. Actual results, events, and performance may differ. 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 hereof. We undertake 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 Children's Place or any other person that the events or circumstances described in such statement are material.

CONTACT:          The Children's Place, Secaucus
                  Seth Udasin, 201/558-2409
                  or
                  Investor Relations:
                  Heather Anthony, 201/558-2865

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