Children’s Place Posts Positive Retail Sales

The Children’s Place Retail Stores, Inc. announced Thursday a 7 percent increase in third quarter net sales versus the same period last year. For the thirteen weeks leading to October 29, the company reports it racked up $484.1 million in sales. Sales are also up by 3 percent for the fiscal year-to-date, compared to 2010. The company also expects a strong finish to the year, due to its efforts to eliminate heavily discounted, excess end-of-year inventory, Reuters reports.