Secaucus, New Jersey - November 11, 1999- The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) today reported record sales and earnings for the third quarter and nine months ended October 30, 1999.

Third Quarter
Net sales increased 45% to $119.4 million, compared with $82.5 million in 1998.
Comparable store sales increased 15% on top of an 18% increase last year.
Net earnings increased 50% to $12.7 million from $8.5 million last year.
Diluted earnings per share increased to $0.48 per share from $0.33 in 1998.
21 new stores opened during the third quarter.

Nine Months
Net sales increased 53% to $286.0 million, compared with $186.5 million in 1998.
Comparable store sales grew 21% on top of a 12% increase in the prior-year period.
Net earnings increased 101% to $21.5 million from $10.7 million last year.
Diluted earnings per share increased to $0.81 per share from $0.42 in 1998.
73 new stores opened during the nine-month period.

"Our achievements are the result of strong customer acceptance of our back-to-school and early holiday merchandise lines that continue to attract new customers and retain their loyalty," said Ezra Dabah, Chairman and Chief Executive Officer. "Our effective program of new store openings in existing and new markets is continuing, and the stores are performing above expectations.In the fourth quarter, we plan to open 11 new stores which will bring us to a total of 84 stores opened in 1999, ending the year at 293 stores. In 2000, we expect to add approximately 100 new stores."

Mr.Dabah concluded, "The third quarter marked the successful transition to our new headquarters and distribution center, further strengthening our infrastructure for planned growth. As we enter the fourth quarter, we look forward to opening the Company's online store at www.childrensplace.com. The site will offer a full line of our apparel and accessories to target a broader customer base with the convenience of multiple sales and service channels."

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 October 30, 1999, the Company operated 282 stores located primarily in regional shopping malls in the eastern half of the United States.

This press release contains 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. The Company undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof.