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The Children's Place to respond to Nasdaq notice

19
Sep '06
The Children's Place Retail Stores Inc 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 September 15, 2006.

The letter states that the Company is not in compliance with the filing requirements for continued listing as set forth in Marketplace Rule 4310(c)(14) and, therefore, its common stock is subject to delisting.

The letter was issued in accordance with Nasdaq procedures due to the delayed filing of the Company's Quarterly Report on Form 10-Q for the quarter ended July 29, 2006 with the Securities and Exchange Commission.

Pending a decision by the Panel, the Company's common stock will remain listed on The Nasdaq Stock Market.

However, there can be no assurance that the Panel will grant the Company's request for continued listing.

On September 7, 2006, the Company announced it would delay the filing of its Quarterly Report on Form 10-Q to allow the Company time to complete an analysis of the accounting treatment for its past stock option grants and to determine the extent of any corrections that may be required to its previously reported financial results.

The Company is committed to resolving these issues as quickly as possible and will make a further announcement regarding its analysis of stock options and the extent of any necessary corrections to its financial statements as soon as additional information is available.

The Children's Place Retail Stores Inc


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