The Children's Place

We’re so proud to finally welcome The Children’s Place to our 360 Family! ‎‏‎‏⠀ A one stop shop for your children’s clothing and accessories now at 360 on M2 ‎‏‎‏⠀ #360Kuwait #YourCircle

Kuwait · 19 Aug 2020

The Children’s Place to close 300 stores; liquidation sales to begin soon

The Children’s Place has announced it will close 300 stores during the next two years following losses tied to the COVID-19 pandemic and the company’s desire to reduce its brick and mortar footprint. In an earnings conference call last week, the children’s clothing retailer cited an increase in e-commerce as one of the factors in the decision to close the stores, many of which are located in malls. Around 200 stores are expected to be closed by the end of 2020, with an additional 100 slated to close in 2021. he Children’s Place has 920 stores in the U.S. and Canada. “This initiative will greatly reduce our reliance on our brick-and-mortar channel and we are targeting our mall-based, brick-and-mortar portfolio to represent less than 25% of our revenue entering fiscal 2022,” Jane Elfers, president and CEO said in a statement. The company announced during an earnings call Thursday that net sales fell 38% in the first quarter of 2020. However, online sales increased by 12% to approximately 53% of total net sales. Only about 6% of the company’s stores had reopened as of last week following closings due to the COVID-19 pandemic. The company said it expects most of its locations will be reopened by July 1. According to Mike Scarpa, chief financial officer and chief operating officer, the company will hold liquidation sales at 50 locations within the next six weeks. “We expect that a good portion of them will open and liquidate and then will close, depending on the inventories that are left in the store,” CFO and COO Mike Scarpa said in the conference call.

United States of America · 15 Jun 2020

الحين صرنا موجودين في مجمع الافنيوز . المرحلة الرابعة - إليكترا . حياكم الله

Kuwait · 3 Nov 2019

New Store Opening

تم افتتاح المتجر الامريكي الاول لمستلزمات الاطفال ذا تشيلدرنز بليس الان في الافنيوز - سكند افنيو - الدور الاول. تشكيله العيد باصناف عديده من الملابس والاحذية والاكسسوار متوفرة وباسعار مميزة. The Children's Place now open at 2nd Avenue | 1st Floor

Kuwait · 14 Jul 2015

The Children's Place coming to the Middle East

The Children's Place, one of the largest clothing chains in North America, is set to take its first steps in the Middle East having signed franchise agreements with two local retailers. The brand, which is listed on the Nasdaq in the United States, has teamed up with Apparel Group to open stores in the UAE, Kuwait, Qatar, Bahrain and Oman and will work with Fawaz Alhokair in Saudi Arabia. Both agreements with local retailers are to run The Children's Place stores for the next 10 years. "While the opportunity in apparel as a whole is considerable, the potential rewards are even greater within childrenswear," said Magdalena Kondej, the global head of apparel research at Euromonitor International, a market research company. Ms Kondej said Saudi Arabia remained the biggest untapped market and forecast growth at a rate of 7 per cent each year until 2016 for children's clothing in the kingdom. "At a time when the US in comparison is predicted [to have] 1 per cent average annual value growth to 2016 in both apparel and childrenswear, it is easy to see why The Children's Place has been tempted to try its hand in the region." The Children's Place has more than 1,000 stores across North America and the company designs and sells fashionable kids' clothing at value prices. The first The Children's Place outlets are expected to open in Dubai and Saudi Arabia in September, followed by a roll-out across the region. Children's clothing is big business for local retailers as parents are increasingly spending more on their fashion-conscious offspring. Parents spent an estimated $1 billion (Dh3.67bn) on children's designer clothing and footwear last year in the Emirates, according to Euromonitor. Analysts say The Children's Place will pose a serious threat to Mothercare and Baby Shop, which both work in the mass-market children's arena and have stores across the Middle East. "Given its position as market leader, the retailer with the most to lose from The Children's Place targeting the Middle East is Mothercare," said Ms Kondej, adding Mothercare had an 8 per cent share of the UAE children's market. "Because of the more developed retail environment in the United Arab Emirates, the brand faces a much higher level of competition there, with Baby Shop and Pumpkin Patch both holding a bigger slice of the market." Mothercare, which is operated by MH Alshaya, has 290 stores across the Middle East, while Baby Shop, which is owned by the Landmark Group, operates 161 shops. In total, Apparel Group has 655 stores, employing 5,500 staff, across its brands including Tim Hortons, Aldo, Dune, Nine West and Tommy Hilfiger. Fawaz Alhokair Group, based in Riyadh, operates more than 1,000 outlets across the Middle East with branded stores such as Zara, Gap, Marks & Spencer and Promod. The Children's Place shares have fallen 2.45 per cent so far this year on the Nasdaq in New York. It announced its expansion plans late last month to investors. rjones@thenational.ae

United States of America · 19 Jul 2012

The Children's Place to Open Retail Stores in Saudi Arabia

SECAUCUS, N.J., June 25, 2012 (GLOBE NEWSWIRE) -- The Children's Place Retail Stores, Inc. (Nasdaq:PLCE), the largest pure-play children's specialty apparel retailer in North America, today announced that it has signed a ten-year franchise agreement with Fawaz A. AlHokair & Co. SJSC, known as "Fashion Retail", to open stores across Saudi Arabia. The first two stores are scheduled to open during the second quarter of 2012. Jane Elfers, President and Chief Executive Officer of The Children's Place, stated, "We are very excited to begin our international expansion beyond North America with a number of stores opening in Saudi Arabia this year. The Middle East retail landscape is very well developed and has high potential for our brand. We look forward to working with Fawaz A. AlHokair & Co, which has a proven track record of launching and operating international brands in Saudi Arabia." Commenting on the launch, Mr. Simon Marshall, Chief Executive Officer of Fawaz A. AlHokair & Co. SJSC, stated, "We have long admired The Children's Place and are excited by the opportunity both to partner with the brand, and to launch our first stores this summer. We believe The Children's Place will fill a white space within the childrenswear market by providing a new product offering combining fashion, quality and value." About The Children's Place Retail Stores, Inc. The Children's Place is the largest pure-play children's specialty apparel retailer in North America. The Company designs, contracts to manufacture and sells fashionable, high-quality merchandise at value prices, primarily under the proprietary "The Children's Place" brand name. As of April 28, 2012, the Company operated 1,062 stores and an online store at www.childrensplace.com. About Fawaz A. AlHokair & Co. SJSC Fawaz A. AlHokair & Co. SJSC is a leading, publicly-listed retail conglomerate headquartered in Saudi Arabia. The company has retail operations in Saudi Arabia, Jordan, Morocco, Egypt, Kazakhstan, Azerbaijan, Georgia and the U.S.A. The company partners with 70+ brands across 1,200+ stores. http://www.fawazalhokairfashion.com/ Forward Looking Statements This press release may contain certain forward-looking statements regarding future circumstances, including statements relating to the Company's positioning, and forecasts regarding store openings. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results and performance to differ materially. Some of these risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission, including in the "Risk Factors" section of its annual report on Form 10-K for the fiscal year ended January 28, 2012. Included among the risks and uncertainties that could cause actual results and performance to differ materially are the risk that the Company will be unsuccessful in gauging fashion trends and changing consumer preferences, the risks resulting from the highly competitive nature of the Company's business and its dependence on consumer spending patterns, which may be affected by the continued weakness in the economy or by other factors such as increases in the cost of gasoline and food, the risk that the cost of raw materials or energy prices will increase beyond current expectations or that the Company is unable to offset cost increases through value engineering or price increases, and the uncertainty of weather patterns. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. CONTACT: The Children's Place: Jane Singer, Vice President, Investor Relations (201) 453-6955 Fawaz A. AlHokair & Co: Brendan Dorrian, Personal Envoy to the Chairman and Head of Business Development +447778897111 Children's Place Retail Stores, Inc.

Saudi Arabia · 24 Jun 2012