SECAUCUS, N.J.--(BUSINESS WIRE)--Sept. 6, 2001--The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) today announced sales of $56.2 million for the four-week period ended September 1, 2001, an 11% increase over sales of $50.7 million reported for August 2000.

Excluding sales of the Company's folding scooter, sales for August 2001 increased 21% over the prior year period. Comparable store sales for the four-week period decreased 9% as compared to a 3% decrease for the restated four-week period ended September 2, 2000. Excluding sales of the folding scooter, comparable store sales for August decreased 1% from the prior year period. The Company opened 9 new stores during August 2001.

Sales for the thirty weeks ended September 1, 2001 increased 15% to $333.0 million from $288.6 million reported in the year-ago period. Excluding sales of the Company's folding scooter, sales for the thirty-week period increased 17% over the prior year period. Year-to-date, comparable store sales decreased 9% versus a 4% increase in the prior year restated period. Excluding sales of the folding scooter, comparable store sales for the thirty-week period decreased 7% from the prior year period. Year-to-date, the Company has opened 90 stores.

In conjunction with The Children's Place August sales release, you are invited to listen to the Company's pre-recorded August sales call with Seth Udasin, Chief Financial Officer, which will be available beginning at 8:00 a.m. Eastern Time today through September 13, 2001. To access the call, please visit the following web address: www.childrensplace.com or dial (402) 220-1549.

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 September 1, 2001, the Company operated 490 stores in 46 states. The Company also sells its merchandise through its virtual store located at 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.