3rd Quarter 2000 Sales Release
Secaucus, New Jersey - November 2, 2000 - The Children's Place Retail Stores, Inc.
(Nasdaq: PLCE) today announced sales of $165.8 million for the third quarter ended October 28, 2000, a 39% increase from sales of $119.4 million for the same period last year. Comparable store sales for the third quarter increased 5% on top of a 15% increase for the third quarter of 1999. During the third quarter, the Company opened 21 new stores.
For the thirty-nine weeks ended October 28, 2000, the Company's sales were $403.5 million, an increase of 41% over sales of $286.0 million for the same period in 1999. The Company's year-to-date comparable store sales increased 6% on top of a 21% increase in the prior-year period. Year-to-date, the Company has opened 100 new stores.
In conjuction with The Children's Place Third Quarter Sales Release, you are invited to listen to the Company's pre-recorded third quarter sales call with Seth Udadsin, Chief Financial Officer & Treasurer. The call and simultaneous webcast will be available beginning at 8:00am Eastern time on November 2, 2000 through November 8, 2000. To access the call, please visit the following web address: www.childrensplace.com/Info/CompanyInfo.jsp or dial (402) 220-1742.
The Company plans to report full results for the third quarter on November 9, 2000.
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 28, 2000, the Company operated 392 stores in 42 states and also sells its merchandise through its World Wide Website located at www.childrensplace.com.
This press release and above referenced calls 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. The Company undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof.