• Q3 profit fell 17% to $31.3m
  • Net sales fell 2.1% to $453.4m
  • Comparable retail sales down 5.7%

Kids' wear retailer The Children's Place Retail Stores Inc has seen its third quarter profit tumble 17% on poor sales of its back-to-school line.

“Third quarter sales and profits...were impacted by poorly performing fashion in the back-to-school line as well as unseasonably warm temperatures,” explained Jane Elfers, president and chief executive officer.

“While short-term market conditions remain challenging for our business, we are making significant progress on our longer-term growth initiatives which we believe will lead to enhanced sales and profitability in 2011 and beyond.”