The Children’s Place Retail Stores, Inc. announced that Michael Scarpa, Chief Financial Officer, has also been appointed Chief Operating Officer, effective immediately. Mr. Scarpa will continue to oversee finance, information technology, distribution, logistics and wholesale, and will add store operations, store development and international to his current responsibilities. Mr. Scarpa will continue to report to Jane Elfers, President and Chief Executive Officer of The Children's Place. Prior to joining the company, Mr. Scarpa had more than 30 years of financial and operational management experience, most recently as Chief Operating Officer and Chief Financial Officer of The Talbots, Inc. Prior to Talbots, Mr. Scarpa was Chief Operating Officer of Liz Claiborne, Inc.

The Children’s Place Retail Stores, Inc. announced the resignation of Robert Fisch as a member of the company’s Board of Directors.

The Children’s Place Retail Stores, Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended February 2, 2013. For the quarter, on cost method basis, the company reported net sales of $509,224,000 against $457,463,000 a year ago. Operating income was $25,919,000 against $21,220,000 a year ago. Income before income taxes was $26,003,000 against $21,185,000 a year ago. Net income was $19,128,000 or $0.80 diluted per share against $23,325,000 or $0.93 diluted per share a year ago. For the year, on cost method basis, the company reported net sales of $1,809,486,000 against $1,715,862,000 a year ago. Operating income was $89,715,000 against $105,443,000 a year ago. Income before income taxes was $86,695,000 against $104,753,000 a year ago. Income from continuing operations was $63,243,000 against $74,345,000 a year ago. Net income was $63,243,000 or $2.61 diluted per share against $74,345,000 or $2.90 diluted per share a year ago. Non-GAAP operating income was $115,329,000 against $106,475,000 a year ago. Non-GAAP income before income taxes was $115,309,000 against $105,785,000 a year ago. Non-GAAP income from continuing operations was $78,832,000 against $72,067,000 a year ago. Non-GAAP net income was $78,832,000 or $3.25 diluted per share against $72,067,000 or $2.81 diluted per share a year ago. The company is forecasting non-GAAP earnings per diluted share will be between $0.60 and $0.65 for the first quarter of 2013. This compares to non-GAAP adjusted earnings per diluted share of $1.14 in the first quarter of 2012. This guidance assumes negative high-single digit comparable retail sales for the quarter. For fiscal 2013, the company is projecting that non-GAAP earnings per diluted share will be between $2.90 and $3.10. This compares to non-GAAP adjusted earnings per diluted share of $3.25 in fiscal 2012. This guidance assumes negative low-single digit comparable retail sales for the year. The company expects depreciation to increase to approximately $74 million due to more capital being deployed throughout the year and system projects coming online. The company expects tax rate to be approximately in the 33.5% range. The company expects capital expenditures to be between $90 million and $95 million. The company also reported asset impairment charges for the fourth quarter ended February 2, 2013. For the quarter, on cost method basis, asset impairment charges of $215,000 against $461,000 a year ago. The company is planning openings in fiscal 2013 to be approximately 55 compared to 64 in 2012.