The Children's Place

The Children’s Place
Public
Traded as NASDAQ: PLCE
Industry Apparel
Founded 1969
Headquarters Secaucus, New Jersey
Products Children’s apparel and accessories
Revenue Decrease US$ 1.725 billion (2015)
Increase US$ 57.88 million (2015)
Total assets Decrease US$ 897.95 million (2015)
Number of employees
 2,100 (2016)
Website www.childrensplace.com

The Children’s Place (TCP) is a Secaucus, New Jersey-based specialty retailer of children’s apparel and accessories.[1] The company also markets apparel under the Children's Place, Place, and Baby Place brand names.[2]

As of October 31, 2015, the Company operated 1,085 stores in the United States, Canada and Puerto Rico, an online store at www.childrensplace.com, and had 90 international stores open and operated by its franchise partners in 12 countries.[3]

History

The company was founded in 1969. They became publicly traded on the NASDAQ exchange in 1997 under the ticker symbol PLCE.

On December 11, 2009, The Children's Place Retail Stores announced the appointment of former Lord & Taylor CEO Jane T. Elfers as President and Chief Executive Officer (CEO) of the company, effective January 4, 2010.[4] She has also been named to the company's Board of Directors.

Disney stores

Between 2004 and 2007, the company owned and operated 335 Disney Stores through a subsidiary Hoop Holdings/Hoop Retail Stores LLC. In June 2007, the company began negotiations to sell the rights back to The Walt Disney Company. On March 26, 2008, Hoop Holdings/Hoop Retail Stores LLC and related subsidiaries of TCP that operated Disney Store retail locations filed for bankruptcy.[5] On May 1, 2008, 231 Disney Stores in North America once again became the property of Disney, operating under the Disney Consumer Products arm.[6]

Operations

Children’s Place stores are divided into 6 specific size ranges sections: Big Girls and Big Boys (4-16), Toddler Girls and Toddler Boys (12 months-5T), and Baby Girls and Baby Boys (up to 7 lbs-12 months). Most of The Children’s Place stores are located in and around regional malls, but also include some strip shopping centers, outlets, and street stores. The majority of their stores are small, traditional mall stores, although some Children's Place outlets are in a big box format.

Criticism

In the summer of 2013, the store withdrew a T-shirt from the stores with four options for "My best subjects" including "Shopping, Music, Dance and Math." While shopping, music, and dance were checked, math was left unchecked because as the T-shirt stated "Nobody’s perfect!"[7]

There was a factory which produced Children's Place merchandise in the Rana Plaza building that collapsed just outside Dhaka, Bangladesh in April 2013.[8] The company then joined Alliance for Bangladesh Worker Safety along with other North American apparel retailers, and former U.S. Senators George Mitchell and Olympia Snowe. The Alliance's mission is a five-year plan to improve conditions in Bangladeshi garment factories.

References

  1. ↑ Vernon, Joan. "Secaucus, N.J.-Based Children's Place Seeks to Convert Browsers into Buyers.", The Record, February 27, 2004. Accessed July 16, 2008.
  2. ↑ Yahoo Finance - PLCE Profile, http://finance.yahoo.com/q/pr?s=PLCE
  3. ↑ "Investor Relations - Corporate Overview". corporate-ir.net. Retrieved 2016-03-04.
  4. ↑ Children's Place names new CEO, The Record, December 11, 2009
  5. ↑ "Unit of Children's Place that operates Disney Stores files for bankruptcy". nj.com. 2008-03-27. Retrieved 2016-03-04.
  6. ↑ Chmielewski, Dawn C. (September 6, 2011). "Head of Disney Consumer Products group steps down". Los Angeles Times. Retrieved 15 November 2012.
  7. ↑ http://www.salon.com/2013/08/06/the_worst_shirts_for_girls/
  8. ↑ "Western Firms Feel Pressure as Toll Rises in Bangladesh". NYTimes.com. 2013-04-25. Retrieved 2016-03-04.
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