"The Children's Place increased sales and earnings in 2008 in spite of the challenging macroeconomic environment," Crovitz continued. "However, with our exit from the Disney Store business, it is imperative that every department continue to right-size its staffing and optimize its efficiency to support our single-brand, value-oriented business. We are confident that the additional cost-reduction initiatives we are announcing today will help maximize the performance of the Company during 2009 and beyond."
Children's Place Retail Stores Inc
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