Children’s Place Reports 3Q, Promotes Three

Secaucus, N.J., The Children’s Place reported a third-quarter net income increase of 52.6% to $17.7 million, buoyed by a 26% improvement in net sales to $280.5 million and a same-store sales gain of 18%.

The retailer also announced three executive promotions: Steven Balasiano was promoted from VP and general counsel to general counsel and senior VP, chief administrative officer. Richard Flaks was promoted to senior VP of planning, allocation and IT from VP of planning and allocation. And Mark Rose, previously VP of merchandise procurement, was named senior VP and chief supply chain officer.