January 2001 Monthly Sales Release
Secaucus, New Jersey - February 8, 2001 - The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced sales of $36.8 million for the five-week period ended February 3, 2001 versus sales of $22.1 million for the four-week period ended January 29, 2000. Comparable store sales for the four weeks ended January 27, 2001 decreased 1% versus the same four-week period last year. Fiscal 2000 had fifty-three weeks versus fifty-two weeks in fiscal 1999. Comparable store sales calculations do not include this additional week.
Total sales for the fourteen weeks and fourth quarter ended February 3, 2001 increased 35% to $183.6 million from $135.5 million reported in the thirteen-week period and fourth quarter ended January 29, 2000. Comparable store sales for the fourth quarter increased 1% versus the prior year period.
Sales for the fifty-three week year ended February 3, 2001 increased 39% to $587.4 million from $421.5 million reported in the fifty-two week year ended January 29, 2000. Comparable store sales for fiscal 2000 increased 4% versus fiscal 1999.
In conjunction with The Children's Place January Sales Release, you are invited to listen to the Company's pre-recorded January sales call with Seth Udasin, Chief Financial Officer and Treasurer. The call will be available beginning at 8:00am Eastern Time on February 8, 2001 through February 15, 2001. To access the call, please visit the following web address: http://www.childrensplace.com/Info/CompanyInfo.jsp or dial (703) 326-3020, access code #4963997.
The Company plans to report full results for the fourth quarter and fiscal 2000 on March 1, 2001.
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. The Company currently operates 400 stores in 43 states.
This press release and above reference 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.