USA: The Children’s Place Reports 7 Per Cent Increase In Comp Sales

The Children's Place Retail Stores, Inc(Nasdaq: PLCE) today announced record sales of $107.7m for the second quarter ended July 29, 2000, a 46 per cent increase from sales of $73.9m for the same period last year. Comparable store sales for the second quarter increased 7 per cent, as compared with a 19 per cent increase for the second quarter of 1999. During the second quarter, the company opened 36 new stores. For the twenty-six weeks ended July 29, 2000, the company's sales were $237.8m, a 43 per cent increase over sales of $166.5m for the same period in 1999. The cCompany's year-to-date comparable store sales increased 6 per cent compared to a 26 per cent increase in the prior-year period. Year-to-date, the company has opened 79 new stores. The company plans to report full results for the second quarter on August 11, 2000. The Children's Place Retail Stores, Inc is a specialty retailer of high quality, value-priced apparel and accessories for children, newborn to age twelve. It designs, contracts to manufacture and sells its products under the 'The Children's Place' brand name. As of July 29, 2000, the company operated 371 stores in 42 states and also sells its merchandise through its Website located at