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The Children's Place delays Q3 earnings release
14 Nov '06
1 min read
The Children's Place Retail Stores Inc announced that it will delay the release of its preliminary third quarter 2006 financial results, originally planned for November 16, 2006, pending the completion of the investigation being conducted by outside counsel into the Company's stock option practices.
The Company expects its preliminary third quarter results will be released after the stock option investigation is concluded.
The Company commented that while the investigation into its stock option grant practices has been progressing, at the recent request of the Audit Committee, the Company's outside counsel is performing additional analysis of various stock option grants to determine whether they impact the conclusions announced on September 7, 2006.
The Company remains committed to resolving these issues as quickly as possible and believe that the additional time is necessary to enable this process to be completed in an orderly, prudent and conclusive fashion.
The Company expects its preliminary third quarter results will be released after the stock option investigation is concluded.
The Company commented that while the investigation into its stock option grant practices has been progressing, at the recent request of the Audit Committee, the Company's outside counsel is performing additional analysis of various stock option grants to determine whether they impact the conclusions announced on September 7, 2006.
The Company remains committed to resolving these issues as quickly as possible and believe that the additional time is necessary to enable this process to be completed in an orderly, prudent and conclusive fashion.
The Children's Place Retail Stores Inc
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