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8-K - Childrens Place, Inc. | v189590_8k.htm |
Exhibit
99.1
FOR IMMEDIATE
RELEASE
THE
CHILDREN’S PLACE RETAIL STORES, INC. APPOINTS
JAMIE
IANNONE TO BOARD OF DIRECTORS
Secaucus, New Jersey – June 30, 2010
– The Children’s Place Retail Stores, Inc. (Nasdaq: PLCE) today announced
the appointment of Mr. Jamie Iannone, 37, to the Company’s Board of
Directors.
Mr. Iannone currently holds the position
of Executive Vice President, Shopping, Barnes & Noble.com and Barnes &
Noble Digital, where he oversees all aspects of the online shopping experience
for millions of Barnes & Noble customers, including development of
innovative new products and services. Previously, he spent eight years at
eBay where he held positions of increasing
responsibility, culminating in his appointment in 2008 as Vice President of
Global Search, the company’s largest single investment area across North America
and Europe. Prior to eBay, Mr. Iannone held positions at Microsoft and Primedia
Ventures. Earlier in his career, Mr. Iannone was with Booz-Allen & Hamilton
where he advised consumer retail and media companies on strategy and
technology
innovation.
Mr.
Iannone received his undergraduate degree from Princeton University and an MBA
from the Stanford University Graduate School of Business.
“We are
very pleased that Jamie is joining The Children’s Place Board,” commented Norman
Matthews, Chairman of the Board. “His extensive expertise, coupled with a deep
understanding of consumer retail business and strategy, will be invaluable as
The Children’s Place further develops its e-commerce business.”
Mr.
Iannone qualifies as an independent director within the meaning of the
Marketplace Rules of the Nasdaq Stock Market, LLC. Mr. Iannone will serve as a
Class II director, and will stand for election at the 2011 Annual Meeting of
Stockholders.
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 under the proprietary “The
Children's Place” brand name. As of May 1, 2010, the Company owned and operated
962 The Children’s Place stores and an online store at www.childrensplace.com.
Forward-Looking
Statements
This press release 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 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,
events and performance to differ materially are the risk that the Company will be
unsuccessful in gauging fashion trends and changing consumer preferences, and
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 the
downturn in the economy.
CONTACT:
The Children’s Place Retail Stores, Inc.
Jane
Singer, Vice President, Investor Relations, (201) 453-6955
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