Children's Place (PLCE) September Comps Up 4%
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The Children's Place Retail Stores, Inc. (Nasdaq: PLCE) said comparable retail sales, which include online sales, increased 4% in September. During September 2009, comparable store sales increased 2% in the U.S. and declined 1% in Canada, while online sales increased 54%.
The Company also announced plans to automate portions of its e-commerce fulfillment operations in its distribution center located in Fort Payne, Alabama. The total cost of the implementation is estimated to be $20 million, with approximately one-third of the capital expenditure expected to be incurred during fiscal 2009 and the remaining two-thirds expected to be incurred in the first half of fiscal 2010. The Company anticipates it will finalize the implementation and begin utilizing the automated distribution system during the second quarter of fiscal 2010.
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