SECAUCUS, N.J., Mar 7, 2002 (BUSINESS WIRE) -- The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced sales of $48.2 million for the four-week period ended March 2, 2002, a 13% increase over sales of $42.8 million for the same period last year. Comparable store sales for the four-week period decreased 8% versus a 5% decrease in February 2001. In addition, the Company opened eight new stores during the month.

In conjunction with The Children's Place February sales release, you are invited to listen to the Company's pre-recorded February sales call with Seth Udasin, Chief Financial Officer, which will be available beginning at 8:00 a.m. Eastern Time today through March 14, 2002. To access the call, please visit the following web address: http://www.childrensplace.com or dial (402) 220-0669.

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 2, 2002, the Company operated 528 stores in 46 states. 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
                  Seth Udasin, 201/558-2409
                  Chief Financial Officer
                  or
                  Morgen-Walke Associates, Inc.
                  Suzanne Rosenberg/Ankit Goyal/Martha Rodriguez
                  Media: Laura Novak/Stephanie Sampiere
                  212/850-5600

Copyright (C) 2002 Business Wire.  All rights reserved.