August 26, 2009, 12:00 AM

Q2 web sales rise 24% at Children’s Place as total sales fall 7%

Web sales at Children’s Place Retail Stores grew 24% year over year to $20.6 million for the second quarter ended Aug. 1, as total sales declined about 6.6% to $316 million, the retailer says.

Mark Brohan

Research Director

Web sales at multichannel merchant The Children’s Place Retail Stores Inc. grew 24% to $20.6 million for the second quarter ended Aug. 1, up from $16.6 million for the year-ago period. Total sales declined about 6.6% to $316 million from $338 million, the retailer said in a financial statement and a conference call with analysts last week.

Children’s Place, No. 149 in the Internet Retailer Top 500 Guide, also reported for Q2:

  • Web sales as a percentage of total sales were 6.5%, up from 4.9% a year ago.
  • Comparable-store sales, which include online sales as well as all stores open at least one year, fell 9%, compared to a year-ago increase of 10%.
  • Net loss was $7.1 million, compared to breaking even a year earlier.
The retailer did not report year-to-date web sales, but noted for the six months ended Aug. 1:
  • Comparable-store sales, including online sales, fell 3%, compared to a year-ago increase of 8%.
  • Total sales fell 3% to $717.6 million from $738.2 million for the year-ago period.
  • Net income declined 15.4% to $16.5 million from $19.5 million a year ago.
Children’s Place also said it opened 15 stores in the second quarter, ending the quarter with 937 stores. It plans to have a net increase of about 30 stores by the end of this year.

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