SECAUCUS, N.J., March 14, 2011 (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 the appointment of Michael Giannelli as Senior Vice President, Design, effective March 28, 2011. He will report to Natalie Levy, Executive Vice President, Merchandising and Design.
Mr. Giannelli, 44, has 20 years of design experience. He spent 18 years with Gap Inc., culminating in his appointment as Vice President, Gap Body. For 12 years of his tenure with the company, he designed children's apparel and non-apparel for Gap Kids and Baby Gap. Most recently, Mr. Giannelli held the position of Senior Vice President, Design for Ann Taylor Loft. Mr. Giannelli earned his BFA degree from Hofstra University.
Jane Elfers, President and Chief Executive Officer, commented, "This is another very important strategic hire for The Children's Place. Strengthening the merchandise is our number one key initiative and we are very excited that Michael is joining our team to lead this effort. He is a highly talented designer and I am confident in his ability to evolve and enhance our product offerings."
Ms. Levy added, "Michael's energy and passion for the children's business is contagious. He brings a tremendous amount of experience, and I look forward to partnering with him to create relevant, brand appropriate and trend right assortments for The Children's Place."
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 January 29, 2011, the Company operated 995 stores and an online store at .
Forward Looking Statements
This press release may contain certain forward-looking statements. 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 30, 2010. 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 a further downturn in the economy or by other factors such as increases in the cost of gasoline, and 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. 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: Jane Singer, Vice President,Investor Relations, (201) 453-6955