The Children's Place Reports July and Second Quarter 2009 Sales

Thursday, August 06, 2009 7:05 AM

SECAUCUS, N.J., Aug. 6, 2009 (GLOBE NEWSWIRE) -- The Children's Place Retail Stores, Inc. (Nasdaq:PLCE) today announced net sales of $102.1 million for the four-week period ended August 1, 2009, a 3% decline compared to net sales of $105.6 million for the four-week period ended August 2, 2008. Comparable retail sales, which include online sales, declined 4% in July 2009 following a 2% increase for the same period last year. During July 2009, comparable store sales declined 7% in the U.S. and declined 11% in Canada, while online sales increased 62%.

For the second quarter ended August 1, 2009, net sales declined 7% to $315.6 million. Comparable retail sales, which include online sales, declined 9% in the second quarter of 2009 following a 10% increase for the same period last year. During the second quarter of 2009, comparable store sales declined 11% in the U.S. and declined 8% in Canada, while online sales increased 24%.

The Company opened one store during July and 15 stores during the second quarter of 2009. Year-to-date, the Company has opened 21 stores and closed one.


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                             July         2nd Quarter    Year-to-Date
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                         2009    2008    2009    2008    2009    2008
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 Total Sales:
 -- In Millions         $102.1  $105.6  $315.6  $338.0  $717.6  $738.2
 -- Change vs. Year Ago    -3%     +7%     -7%    +16%     -3%    +14%
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 Comparable Store Sales:
 -- Change vs. Year Ago    -4%     +2%     -9%    +10%     -3%     +8%
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Outlook

In a press release issued on July 29, 2009, the Company announced that it estimates its loss per share from continuing operations for the second quarter of 2009 will be in the range of $(0.25)-$(0.30), including a net gain of approximately $0.18 per share for items which the Company deems to be unusual or one-time in nature.

Excluding these unusual or one-time items, the Company estimates its adjusted loss per share from continuing operations for the second quarter of 2009 will be in the range of $(0.43)-$(0.48). Adjusted loss per share is a non-GAAP measure which the Company believes will facilitate comparisons of the past and future performance of its core business.

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