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Children's Place registers higher growth
08
Feb '08
The Children's Place Retail Stores Inc announced sales of $121.7 million for the four-week period ended February 2, 2008 versus sales of $127.4 million for the five-week period ended February 3, 2007.

Consolidated comparable store sales for the four weeks ended February 2, 2008, increased 6% versus the corresponding four-week period last year. Both brands had higher promotional levels during January 2008 than last year.

Click here to view results:

During fiscal January, the Company opened two The Children's Place stores and closed ten. In addition, the Company opened six Disney Stores and closed eight.

Separately, the Company announced that it will request a hearing before the Nasdaq Listing Qualifications Panel in response to the Company's receipt of a Nasdaq Staff Determination letter dated February 6, 2008.

The letter states that the Company is not in compliance with the requirements for continued listing as set forth in Marketplace Rules 4350(e) and 4350(g) and, therefore, its common stock is subject to delisting.

The letter was issued in accordance with Nasdaq procedures due to the Company's failure to hold its fiscal 2006 Stockholder Meeting by the February 3, 2008 deadline required by Nasdaq.

This is due to the delayed filing of the Company's 2006 Annual Report on Form 10-K which was filed on December 5, 2007. Accordingly, the Company will be requesting Nasdaq provide an extension to the meeting deadline and expects to hold the meeting in the Spring of 2008.

Pending a decision by the Panel, the Company's common stock will remain listed on The Global Select Market. However, there can be no assurance that the Panel will grant the Company's request for continued listing.

In conjunction with today's January sales release, you are invited to listen to the Company's pre-recorded monthly sales call, which will be available beginning at 7:30 a.m. Eastern Time from February 7, 2008 through Thursday, February 14, 2008.

The Children's Place Retail Stores Inc


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