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The Children's Place Comparable store sales up in October

07 Nov '08

2 min read

The Children's Place Retail Stores Inc announced net sales of $144.9 million for the four-week period ended November 1, 2008, a 9% increase compared to net sales of $133.0 million for the four-week period ended November 3, 2007. Comparable store sales for October increased 4% on top of a 2% increase in October 2007.

For the third quarter ended November 1, 2008, net sales increased 5% to $450.6 million. Comparable store sales for the third quarter increased 2% on top of a 1% increase in the third quarter of 2007.

The Company opened 11 stores during October 2008. During the third quarter of 2008, the Company opened 19 stores and closed one.

The Company expects to report earnings per share from continuing operations for the third quarter of 2008 in the range of $0.92-$0.95, including one-time transition services income net of variable expenses of approximately $5.7 million pre-tax for services being provided to the acquirer of the Disney Store North America business. Excluding this one-time gain, the Company expects adjusted earnings per share from continuing operations for the third quarter of 2008 to be in the range of $0.81-$0.84. Adjusted earnings per share is a non-GAAP measure which the Company believes will facilitate comparisons of the past and future performance of its core business.

The Company will discuss details on the quarter when it reports third quarter earnings results on Thursday, November 20, 2008.

The Children's Place Retail Stores, Inc. is a leading specialty retailer of children's merchandise. The Company designs, contracts to manufacture and sells high-quality, value-priced merchandise under the proprietary "The Children's Place" brand name.

The Children's Place Retail Stores Inc

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