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Children's Place consolidated comparable store sales soar
06 Mar '08
2 min read
The Children's Place Retail Stores Inc announced sales of $151.7 million for the four-week period ended March 1, 2008, a 13% increase compared to sales of $133.8 million for the same period last year.
Consolidated comparable store sales increased 5% on top of a 5% increase last year. During February, the Company opened two Children's Place stores and one Disney Store. The Company also closed one Disney Store.
Separately, as anticipated, given the previously announced resignation of Board member James Goldman, the Company has received a NASDAQ Staff Deficiency Letter indicating that the Company no longer complies with NASDAQ's independent director requirements as set forth in Marketplace Rule 4350.
Under NASDAQ rules, the Company has a 180 day grace period to regain compliance with this requirement. The Board has a director search underway and expects to name an independent director to replace Mr. Goldman as soon as practicable.
In conjunction with today's February 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 today through Thursday, March 13, 2008.
The Children's Place Retail Stores Inc plans to report fourth quarter and fiscal 2007 results on Thursday, March 20, 2008. The Company will host a conference call on that date to be broadcast live at 10:00 a.m. Eastern Time.
Consolidated comparable store sales increased 5% on top of a 5% increase last year. During February, the Company opened two Children's Place stores and one Disney Store. The Company also closed one Disney Store.
Separately, as anticipated, given the previously announced resignation of Board member James Goldman, the Company has received a NASDAQ Staff Deficiency Letter indicating that the Company no longer complies with NASDAQ's independent director requirements as set forth in Marketplace Rule 4350.
Under NASDAQ rules, the Company has a 180 day grace period to regain compliance with this requirement. The Board has a director search underway and expects to name an independent director to replace Mr. Goldman as soon as practicable.
In conjunction with today's February 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 today through Thursday, March 13, 2008.
The Children's Place Retail Stores Inc plans to report fourth quarter and fiscal 2007 results on Thursday, March 20, 2008. The Company will host a conference call on that date to be broadcast live at 10:00 a.m. Eastern Time.
Children's Place Retail Stores Inc
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