The Children's Place Retail Stores, Inc. Reports May Sales
SECAUCUS, N.J., Jun 02, 2005 (BUSINESS WIRE) --The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced total consolidated sales of $90.4 million for the four-week period ended May 28, 2005, a 58% increase compared to sales of $57.2 million reported for May 2004. May sales were comprised of $63.5 million in sales from The Children's Place, an 11% increase over last year, and $26.9 million in sales from Disney Store. Comparable store sales for The Children's Place stores increased 2%, in line with previous guidance and on top of a 9% increase for the same period last year. During May, the Company opened seven Children's Place stores and closed one. In addition, the Company opened one Disney Store.
Total consolidated sales for the seventeen weeks ended May 28, 2005, were $459.6 million, a 62% increase compared to sales of $283.0 million reported for the same period last year. Sales for the seventeen weeks were comprised of $344.2 million from The Children's Place, a 22% increase over last year, and $115.4 million in sales from the Company's Disney Store business. Comparable store sales for The Children's Place stores increased 11%, on top of a 14% increase in the same period last year. Year-to-date, the Company has opened 11 Children's Place stores and closed two. In addition, the Company opened two Disney Stores and closed one.
"Unseasonably cool weather in markets such as our Northeast, metro New York and mid-Atlantic regions negatively impacted May sales results. Reflecting the underlying strength of our business and the continued appeal of our brand, comparable store sales in warmer weather regions such as the West, Rocky Mountain, Southeast and Southwest increased in the double-digits to mid-teens," said Ezra Dabah, Chairman and Chief Executive Officer of The Children's Place Retail Stores, Inc. "At Disney Store, we continue to be pleased with the guest response to our everyday value pricing strategies and with the preliminary results of our 'Magical Makeover' visual merchandising test."
In conjunction with today's May 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, June 9, 2005. To access the call, please visit the Investor Relations section of the Company's website, www.childrensplace.com, or dial (402) 220-1182.
The Children's Place Retail Stores, Inc., is a leading specialty retailer of children's merchandise. The Company designs, contracts to manufacture and sells high-quality, value-priced merchandise under the proprietary "The Children's Place" and licensed "Disney Store" brand names. As of May 28, 2005, the Company owned and operated 759 The Children's Place stores and 307 Disney Stores in North America and its online store, 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.
SOURCE: The Children's Place
The Children's Place
Heather Anthony, 201-558-2865
Senior Director, Investor Relations