June 28, 2009

Children's Place to pay $12 mln to settle lawsuit

June 26 (Reuters) - Children's Place Retail Stores Inc (PLCE.O) said it would pay $12 million to settle a class action suit that alleged its officers of misrepresenting facts about operations that caused the company's stock to artificially inflate.

The company said it denied all allegations made in the suit and decided to settle the suit to eliminate further litigation and related expenses.

The children's clothing retailer said the cost of the settlement would be covered by insurance. (Reporting by Vidya Lakshmi in Bangalore; Editing by Gopakumar Warrier)

Children's Place

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1/26/12
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1/6/12
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11/28/11
Retail stocks up after strong holiday weekend
After a blockbuster performance over the long Thanksgiving weekend, U.S. retailers now must replicate the robust results in order to see profitable sales gains for the rest of the holiday season.
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8/24/11
Caution on Main Street: retailers fret ahead of key sales season
Caution is the watchword for apparel executives heading into the all-important holiday season and their lack of confidence is scaring investors.
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8/18/11
Fewer discounts help Children's Place
Children's Place Retail Stores Inc posted a smaller-than-expected quarterly loss as smartly managed inventories reduced the need for discounts, prompting the retailer to raise the lower end of its full-year profit forecast.
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7/3/11
Chains ramp up stores even as e-commerce soars
Several major retailers plan to keep opening new stores even as e-commerce gathers steam, arguing that physical locations go hand in hand with their websites.
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6/29/11
Retailers see economy staying tough for shoppers
High gasoline and food prices and a slow recovery in jobs will continue to weigh on consumers this year, except for those that buy $98 yoga pants and $400 baseball bats, retailers and manufacturers said this week. U.S.
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6/29/11
Children's Place upbeat on school start
Children's Place Retail Stores is gearing up for a much better back-to-school season as it banks on tighter inventories and new, sometimes pricer, merchandise to entice still-wary shoppers, its chief executive said on Tuesday.
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3/9/11
Children's Place sees weak Q1 as sales dip
Children's Place Retail Stores Inc posted a bigger-than-expected quarterly profit, but the kids' clothes retailer forecast a weak year ahead on weakening sales and rising costs.
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2/14/11
Prime Source Forum 2011 on 'Supply Chain Management'
Senior executives from all aspects of the supply chain servicing the global apparel industry will be in Hong Kong for Prime Source Forum 2011. The event runs 30 March – 1 April and will be held at the Hong Kong Convention and Exhibition...
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2/11/11
Children's Place finance chief to quit
Children's Place Retail Stores Inc said Susan Riley, executive vice president, finance and administration, is leaving the company, and that it is searching for a chief financial officer.
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11/18/10
Children's Place posts smaller Q3 profit
Children's Place Retail Stores posted a smaller third-quarter profit, hit by weak sales, but said it is headed for better results in 2011 and beyond as it corrects its fashion mistakes.
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11/18/10
Specialty apparel retailers eye steady holiday sales
U.S. specialty apparel companies, which have battled erratic demand and rising costs, forecast a steady holiday season.
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10/28/10
Carter's Q3 beats St, sees hit from rising costs
Children's clothing company Carter's Inc posted quarterly results that beat estimates but warned that rising input costs could weigh down operating margin in fiscal 2011 substantially.
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3/11/10
Gymboree rises after results
Gymboree Corp's quarterly profit topped market estimates by a penny, as well-managed discounts helped the children's apparel retailer during the holiday season, and it forecast the first quarter largely above expectations.
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3/10/10
Children's Place fourth quarter profit in line with Street
Children's Place Retail Stores Inc posted a quarterly profit that was in line with market estimates as discounts helped boost sales during the holiday season.
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2/4/10
Children's Place sees fourth quarter EPS ahead of Street
Children's Place Retail Stores Inc forecast fourth-quarter earnings ahead of market estimates and posted a better-than-expected rise in January same-store sales.
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12/29/09
Retail holiday sales improve after dismal 2008
U.S. retailers performed better during the holiday shopping season this year than in historically dismal 2008, in line with lowered expectations.
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12/11/09
Children's Place names CEO
Children's Place Retail Stores Inc, which has gone without a permanent chief executive since 2007, named Jane Elfers as CEO, effective Jan. 4.
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12/3/09
U.S. chains miss sales views in weak holiday start
U.S. retailers from Macy's to Costco posted much weaker-than-expected sales for November as shoppers focused only on big bargains at the start of the key holiday selling season.
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