The Children’s Place Retail Stores, Inc. May 2008 Sales Call Transcript

The Children’s Place Retail Stores, Inc. (PLCE)

May 2008 Sales Call

June 5, 2008 7:30 am ET

Executives

Jane Singer – Investor Relations

Presentation

Jane Singer

Good morning! This is Jane Singer for The Children’s Place Retail Stores, Inc. Welcome to our prerecorded sales call for May 2008.

I would like to remind participants that any forward-looking remarks made today are subject to the safe harbor statement found in this morning’s press release. The company undertakes no obligation to publically release any revisions to these forward-looking statements to reflects events or circumstances after the date hereof.

For the four weeks ended May 31, 2008, The Children’s Place Retail Stores, Inc., reported total sales of $109.4 million, a 19% increase over last year sales of $91.9 million. May comparable store sales increased 10% on top of last year’s 6% increase, reflecting continued positive consumer response to our summer merchandise assortments and great value proposition.

Year-to-date, total sales for 2008 was $509.6 million, a 14% increase over the same period last year. Year-to-date, comparable store sales increased 6% on top of a 3% increase in the same period last year. During the month, we closed one store, so as of May 31, 2008, we owned and operated a total of 905 The Children’s Place Stores.

Our 10% comp for May reflects a 7% increase in comparable store sales transactions and a 3% increase in average transaction size. Units per transaction and traffic were both positive for the month. Average unit retail declined in the low single digits. Outlet stores had positive comp sales in the high 20s for the month. Mall stores comp’d in the positive high single digits, while non-mall stores comp’d in the negative low single digits. E-commerce sales for the month were more than double the volume experienced in May of last year.

By geography, the highest comps were in the Rocky Mountains and Southwest, which registered positive mid 20s. The Mid-Atlantic and Southeast comp’d in the positive mid-teens. All other areas registered positive comps, except metro New York and New Jersey, which comp’d in the negative low single digits.

Overall, we continue to be quite pleased with customer response to the summer merchandise. All departments registered positive comps in May. Girls and newborn comp’d in the low double digits. Boys and accessories comp’d in the high single digits. Our master sale will begin on June 10^th, which is similar timing to last year.

Thank you for your interest in The Children’s Place. Our next monthly call will be held on Thursday, July 10, 2008, when we will review sales results for the month of June.

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