SECAUCUS, N.J., May 20, 2011 (GLOBE NEWSWIRE) -- The Children's Place Retail Stores, Inc. (Nasdaq:PLCE), the largest pure-play children's specialty apparel retailer in North America, announced the results of its 2011 Annual Meeting of Stockholders held today:
- Election of Joseph Alutto, Jamie Iannone and Joseph Gromek as Class II directors to serve for three-year terms expiring in 2014.
- Ratification of the appointment of BDO USA, LLP as the Company's independent registered public accounting firm for the fiscal year ending January 28, 2012.
- Approval of The Children's Place Retail Stores, Inc. 2011 Equity Incentive Plan, including the reservation of 2.0 million shares of common stock for awards thereunder.
- An advisory vote approving the compensation of the Company's named executive officers.
- As advisory vote approving a frequency of once every year for holding the advisory vote on executive compensation.
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 30, 2011, the Company operated 1,032 stores and an e-commerce site at .
Forward Looking Statements
This press release (and above referenced meeting) may contain certain forward-looking statements regarding future circumstances. 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 29, 2011. 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
CONTACT: The Children's Place Retail Stores, Inc. Jane Singer, Vice President, Investor Relations, (201) 453-6955