3rd Quarter 2000 Earnings Release
Secaucus, New Jersey - November 9, 2000 - The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) today reported record sales and earnings for the third quarter and nine months ended October 28, 2000. The Company also announced that beginning with November it will report
monthly sales results.
Ezra Dabah, Chairman and CEO, commented, "We are very pleased
with the Company's strong performance in the third quarter. Once again, it is exciting
to note that our new stores continue to outperform our plan. At the current sales rate,
we anticipate that our new stores will exceed last year's 93% return on investment.
This impressive return allows the Company to internally fund our planned growth as we
continue to develop into a dominant player in our niche apparel market." Mr. Dabah concluded, "As we enter the fourth quarter, our
inventory is very well positioned. Our holiday merchandise is fresh and timely, and
is supported by very strong and well-planned marketing and promotional activity." The Children's Place will host a webcast of its third quarter
earnings conference call today at 10:00 a.m., Eastern Standard Time. Investors and
the media are invited to listen to the call at the Company's Web site at
www.childrensplace.com/CompanyInfo.jsp.
An archive of the webcast will be available on the same site. 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 Web site located at
www.childrensplace.com 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.
Third Quarter
Nine Months