March 2001 Monthly Sales Release

April 12, 2001

 Secaucus, New Jersey - April 12, 2001 - The Children's Place Retail Stores, Inc. (Nasdaq: PLCE), today announced sales of $64.9 million for the five-week period ended April 7, 2001, a 23% increase over sales of $52.7 million reported for March 2000. Comparable store sales for the five-week period decreased 9% versus a 1% decrease for the restated fiscal 2000 period ended April 8, 2000. In addition, the Company opened 15 new stores during the month.

Total sales for the nine-weeks ended April 7, 2001 increased 26% to $107.7 million from $85.5 million reported in the year ago period. Comparable store sales for the nine-week period decreased 7% versus a 3% increase for the restated fiscal 2000 period ended April 8, 2000. Year-to-date, the Company has opened 32 new stores bringing the total store count to 432.

"Sales for the 32 new stores opened year-to-date, including 5 new stores in the very large Southern California market, are exceeding our expectations. The 1999 class of stores, for which 2000 was their first full year, achieved strong results, including average sales of $1.5 million and an ROI of 83%," commented Ezra Dabah, Chairman and Chief Executive Officer.

Mr. Dabah continued, "March sales results were impacted by a difficult economic environment along with unfavorable weather conditions. As a result, we now project earnings per diluted share for the first quarter to be lower than anticipated, yet higher than the $0.36 achieved last year. Looking ahead, our strong sourcing abilities should translate into improved gross margins later this year and we expect to generate greater customer enthusiasm as the effects of our merchandising group reorganization begin to be reflected in our product assortment."

In conjunction with The Children's Place March Sales Release, you are invited to listen to the Company's pre-recorded March sales call which will provide additional guidance. The call, with Seth Udasin, Chief Financial Officer and Treasurer, will be available beginning at 8:00 am Eastern Time on April 12, 2001 through April 19, 2001. To access the call, please visit the following web address: or dial (703) 326-3020, access code #5132959.

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 April 7, 2001, the Company operated 432 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.

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