Children's Place Retail Stores Inc. said on Thursday its sales at stores open at least a year rose 5 percent in February.
Analysts expected a same-store sales gain of 3 percent.
The children's clothing retailer also said it was told by NASDAQ the company is no longer in compliance with the exchanges's independent director requirement due to the resignation of board member James Goldman. The company has a 180-day grace period to regain compliance and is searching for a new director.
The Children’s Place Retail Stores, Inc. is a specialty retailer of children’s apparel and accessories for children from newborn to age ten. It was founded in 1969. They became publicly traded on the NASDAQ exchange in 1997 under the ticker symbol PLCE. The Children’s Place is headquartered in Secaucus, New Jersey. The company owns and operates the Children’s Place stores, as well as Disney Stores.
The Children’s Place designs, contracts to manufacture, and sells high-quality, value-priced products under ‘The Children’s Place’ and ‘Disney Store’ brand names. The merchandising objective of the brand is to offer a unique, colorful, coordinated and balanced lifestyle assortment of high quality, basic and fashion merchandise, at prices that represent substantial value to their customers. Or, as their slogan states 'Big Fashion. Little Prices'. Each Children’s Place store is divided into six sections, serving the needs of specific size ranges. These are: Big Girls and Big Boys (4-14), Baby Girls and Baby Boys (6 months-4T), and Newborn (0-12 months).
Most of The Children’s Place stores are located in and around regional malls, but also include some strip centers, outlets, and street stores. Almost all the Disney Store locations are within regional malls. The majority of their stores are small, traditional mall stores, although some Children's Place outlets are in a big box format.
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