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Children's Place posts 3Q sales growth


SECAUCUS, N.J. The Children's Place Retail Stores reported third quarter net sales of $450.6 million, an increase of 5% over the third quarter last year. Comparable-store sales for the quarter increased 2%.

                                Income from continuing operations after tax was $28.4 million, or 96 cents earnings per share, in the third quarter of 2008, compared to                                $14.9 million, or 51 cents per share, in the third quarter of 2007.                            

Chuck Crovitz, interim ceo of The Children's Place Retail Stores, commented, "We believe The Children's Place is uniquely well-positioned for this economy as we offer parents the fashion and value they are looking for, coupled with an excellent customer experience to help expedite and simplify their holiday shopping. However, we expect this holiday season to be a very challenging one as the macroeconomic environment remains weak and is impacting consumers' purchasing power."

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