Children's Place sees slight decrease in 4Q sales

SECAUCUS, N.J. The Children's Place Retail Stores reported that net sales from continuing operations for the fourth quarter of 2008 were $441.5 million, compared with fourth quarter 2007 net sales of $443.3 million.

Comparable-store sales decreased 5% in the fourth quarter. Income from continuing operations after tax was $23.3 million, or 79 cents per share, in the fourth quarter of 2008, compared to a loss of $4.2 million, or 15 cents per share, in the fourth quarter of 2007.

Net sales from continuing operations for fiscal year 2008 increased 7% to $1.63 billion, compared to $1.5 billion in 2007.Comparable-store sales increased 2% for fiscal year 2008 on top of a 3% increase the prior year.

Income from continuing operations after tax was $73.9 million, or $2.50 per share, for fiscal year 2008, compared to $10 million, or 34 cents per share, last year.