The Children's Place news and archive

The Children's Place Q1 comparable sales drop by 11.7 percent

For the first quarter, net sales at The Children’s Place decreased 53.7 million dollars or 16.7 percent to 267.9 million dollars. Comparable retail sales decreased 11.7 percent for the quarter. The company said in a statement that the decrease in net sales was primarily due to reductions in retail sales driven by lower store count, traffic...

Business

The Children’s Place appoints interim CEO, strategy outlined by majority shareholder

Weeks after new majority shareholder Mithaq Capital stepped in to inject 78.6 million dollars into the business, The Children’s Place (TCP) is now preparing for a leadership transition ahead of the implementation of a new strategy outlined by the investor’s chairman, Turki AlRajhi. The childrenswear retailer revealed that its current president...

Business

The Children’s Place secures 78.6 million dollar term loan from majority shareholder

Kidswear retailer The Children’s Place has secured a new financing agreement with majority shareholder Mithaq Capital SPC to provide 78.6 million dollars of interest-free unsecured and subordinated term loans as part of strengthening the company’s liquidity positioning. The news comes weeks after Saudi Arabia’s Mithaq had snapped up over half of...

Business

The Children’s Place mulls 130 million dollar term loan

The Children’s Place has announced that it has received an offer for a 130 million dollar term loan from a subsidiary of liquidation and restructuring firm Gorden Brothers, days after over half of its share capital was snapped by Mithaq Capital. While the offer by Gorden Brothers is still subject to due diligence checks, The Children’s Place...

BusinessFeatured

The Children’s Place posts drop in Q3 sales and earnings

The Children’s Place reported third quarter net sales decreased 28.9 million dollars or 5.7 percent to 480.2 million dollars. The company’s comparable retail sales decreased 7.3 percent for the quarter. The company attributed the decrease in net sales to the impact of the continued slowdown in consumer demand resulting from the unprecedented...

Fashion |In Pictures

Mandy Moore launches holiday children’s collection with Gymboree

Actress and singer Mandy Moore has unveiled a limited-edition capsule holiday collection with Gymboree, part of The Children’s Place, inspired by her two boys, Gus and Ozzie. The capsule collection is the culmination of the year-long partnership between Gymboree and Moore, who is its 2023 brand ambassador and offers clothing for boys and girls...

BusinessFeatured

The Children’s Place cuts full year outlook

The Children’s Place, Inc. reported a decrease in net sales of 35.3 million dollars or 9.3 percent to 345.6 million dollars in the second quarter. The company attributed the decline to the impact of a slowdown in consumer demand resulting from the unprecedented inflation impacting customers, an increase in promotional activity across the sector,...

Business

The Children’s Place names new executives in leadership shuffle

Kidswear apparel retailer The Children’s Place has announced a number of new appointments among its executive team as it continues to work towards growth initiatives and strengthening its digital-first mindset. Stepping into the new role of brand president is Maegan Markee, who has been with the company for over 13 years in a range of...

Business

The Children’s Place appoints former Nestle CMO to board

The Children’s Place has announced the appointment of Alicia Enciso to its board of directors and as a member of its Corporate Responsibility, Sustainability and Governance Committee. Enciso, who is an independent director, will hold office until the company’s annual meeting in 2024. Most recently, Enciso was the chief marketing officer of...

Fashion

The Children’s Place launches tween brand Sugar and Jade

Children’s apparel retailer The Children’s Place has announced the launch of tween brand Sugar and Jade. The new apparel, footwear and accessories brand has already launched five new collections, and will remain a digital only brand. Available on its own website, it will also be sold on The Children’s Place’s new e-commerce platform. “Based on...

BusinessFeatured

The Children's Place Q2 sales increase by 12.2 percent

For the second quarter, The Children’s Place reported net sales increase of 44.9 million dollars or 12.2 percent to 413.9 million dollars. The company said that the increase was primarily driven by strong customer response to the product assortment, a reset of pricing and promotional strategy driving significantly higher AUR and ADS, strong...

People

The Children’s Place appoints John A. Frascotti to its board of directors

The Children’s Place, Inc. has appointed John A. Frascotti to the company’s board of directors. The company said that Frascotti will hold office as independent director, until the annual meeting of stockholders of the company to be held in 2022. Frascotti is a special advisor to Hasbro, Inc., and served as Hasbro’s president and chief operating...