West Caldwell, New Jersey - February 4, 1999 -- The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) today announced sales of $97.3 million for the fourth quarter ended January 30, 1999, an increase of 49% from sales of $65.3 million for the same period last year. Comparable store sales for the fourth quarter increased 18%, as compared with a 5% increase for the fourth quarter of 1997.

For the fiscal year ended January 30, 1999, the Company's sales were $283.9 million, an increase of 47% over sales of $192.6 million for the prior fiscal year. The Company's comparable store sales increased 14% for the fiscal year ended January 30, 1999 compared to a 2% increase in the prior fiscal year.

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 January 30, 1999, the Company operated 209 stores located primarily in regional shopping malls in the eastern half of the United States.