The Children's Place Retail Stores Inc announced sales of $155.4 million for the five-week period ended July 7, 2007, a 2% increase compared to sales of $151.7 million for the five-week period ended July 1, 2006. Consolidated comparable store sales decreased 4% compared to last year's 15% increase.
As previously announced, 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. References made today and going forward regarding last year's comparable store sales results, in view of the shift, will be on the "adjusted" basis.
For a breakdown of the Company's fiscal 2006 comparable store sales on an "as reported" and "as adjusted" basis, please refer to the Company's March 8, 2007, press release.
As announced on July 9, 2007, the Company anticipates reporting a loss per share of approximately $(0.94) to $(0.98) for the second fiscal quarter ending August 4, 2007. This loss per share range includes approximately $2.0 million, pre-tax, in costs paid or accrued in association with the Company's previously disclosed stock option investigation and related expenses.
Further, as stated in the Company's press release on July 9, 2007, at this time, the Company anticipates becoming current in its quarterly and annual filings with the Securities and Exchange Commission by the end of August.
In conjunction with today's June 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 Wednesday, July 18, 2007.
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The Children's Place Retail Stores Inc
marketing@alchempro.com
