The Children's Place Retail Stores Inc announced sales of $204.7 million for the five-week period ended April 7, 2007, an 18% increase compared to sales of $173.4 million for the five-week period ended April 1, 2006. Consolidated comparable store sales increased 7% on top of last year's 11% increase. During March 2007, the Company opened two Children's Place stores and closed two.
As previously stated, due to the extra week in fiscal 2006, the Company's fiscal 2007 comparable store sales have shifted by one week as compared to the corresponding period of fiscal 2006. Any references made and going forward regarding last year's comparable store sales results will be on the "adjusted" basis. For a breakdown of the Company's fiscal 2006 comparable store sales results on an "as reported" and "as adjusted" basis, please refer to the Company's March 8, 2007 press release.
At this time, the Company anticipates first quarter 2007 earnings per share to be approximately even with last year's first quarter. The Company continues to expect fiscal 2007 earnings per share of approximately $3.63 to $3.73, before any residual expenses the Company may incur as a result of the conclusion of the stock option investigation.
In conjunction with today's March sales release, you are invited to listen to the Company's pre-recorded monthly sales call, which will be available beginning at 7:30 a.m. Eastern Time today through Thursday, April 19, 2007. To access the call, please dial (402) 220-1182 or you may listen through the Investor Relations section of the Company's website.
The Children's Place Retail Stores Inc is a leading specialty retailer of children's merchandise. The Company designs, contracts to manufacture and sells high-quality, value-priced merchandise under the proprietary "The Children's Place" and licensed "Disney Store" brand names.
The Children's Place Retail Stores Inc
marketing@alchempro.com
