SECAUCUS, N.J., March 16, 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 James Bruce Marshall as Senior Vice President and Managing Director, International Business Development, effective March 24, 2011. He will report directly to Jane Elfers, President and Chief Executive Officer.
Mr. Marshall, 55, has more than 25 years of experience managing franchising, licensing and joint ventures for global brands. Most recently, he was Senior Vice President and Managing Director, International Development and Operations, for Claire's Stores Inc., where he was responsible for their joint venture and franchise operations across 23 countries. Previously, he spent six years with Warner Bros. in positions of increasing responsibility, culminating in his appointment as Senior Vice President and Managing Director, Asia Pacific, where he was responsible for expanding their licensed brands in the Asia Pacific market. Mr. Marshall began his retail career with Marks and Spencer, where he spent 16 years in a variety of managerial positions, including establishing and managing their franchise operations across Central and Eastern Europe.
"International expansion offers a significant growth opportunity for The Children's Place," commented Jane Elfers. "We are already the number one pure-play children's specialty apparel retailer in North America and we believe this brand can be equally successful worldwide. Bruce is a seasoned professional with extensive experience establishing and managing global brands and, with his leadership, our plan is to embark upon the development of a roadmap for international expansion."
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 www.childrensplace.com.
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.