The Children's Place Retail Stores Inc announced sales results for the four-week period ended August 4, 2007.
Total sales for the four-week period ended August 4, 2007 increased 8% to $141.2 million compared to sales of $131.1 million for four-week period ended July 29, 2006.
Consolidated comparable store sales decreased 1% compared to last year's 10% increase. During July, the Company opened eight Children's Place stores and closed one.
The Company continues to anticipate reporting a loss per share of approximately $(0.94) to $(0.98) for the second quarter of fiscal 2007. As a reminder, 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, which is in line with previous guidance.
Further, as stated in its July 9, 2007 press release, the Company expects to provide an update to full fiscal year earnings guidance on its second quarter conference call, scheduled for Thursday, August 23, 2007.
The Company stated that inventory per square foot at the end of the second quarter is anticipated to be below previous guidance at The Children's Place and in-line with guidance at Disney Store, as previously provided by the Company on its first quarter conference call.
In conjunction with July 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, August 16, 2007.
The Company plans to report second quarter results on Thursday, August 23, 2007. The Company will host a conference call on that date to be broadcast live via webcast at 10:00 a.m. Eastern Time.
The Children's Place Retail Stores Inc
marketing@alchempro.com
