For fiscal 2007, at this time, the Company anticipates earnings per share of $3.45 to $3.55, also below previous guidance. While the Company remains cautiously optimistic regarding the second half of the year, April results and current business trends have made it more difficult to achieve the Company's previous earnings expectation.
This updated guidance reflects the $2.5 million, pre-tax, in stock option investigation and related expenses incurred in the first quarter but does not contemplate additional residual expenses the Company may incur as a result of the conclusion of the investigation.
Separately, the Company stated that, due to its previously announced restatement of financial results, the Company will postpone its annual shareholder meeting, originally scheduled for June 21, 2007. The Company will announce a new date for its annual shareholder meeting at a later date.
In conjunction with April 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 through Thursday, May 17, 2007. To access the call, please dial or you may listen through the Investor Relations section of the Company's website.
The Children's Place plans to report preliminary first quarter results on Tuesday, May 22, 2007. The Company will host a conference call on that date to be broadcast live at 10:00 a.m. Eastern Time.
The Children's Place Retail Stores Inc
marketing@alchempro.com
