The Children's Place

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The Children’s Place
Type Public
Traded as NASDAQPLCE
Industry Apparel
Founded 1989
Headquarters Secaucus, New Jersey
Products Children’s apparel and accessories
Revenue Increase US$ 1.809 billion (FY 2013)
Net income Decrease US$ 63.2 million (FY 2013)
Total assets Increase US$ 923.4 million (FY 2013)
Employees 4,100 (2013)
Website http://www.childrensplace.com

The Children’s Place (TCP) is an American specialty retailer of children’s apparel and accessories[1] founded in 1989. They became publicly traded on the NASDAQ exchange in 1997 under the ticker symbol PLCE. The Children’s Place is headquartered in Secaucus, New Jersey,[2] and currently has 4,100 employees.[3]

Children’s Place stores are divided into four specific size ranges sections: Big Girls and Big Boys (4-14), Baby Girls and Baby Boys (6 months-4T). 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.

The company owns and operates The Children’s Place stores, as well as owning and operating Disney Stores between 2004 and 2007 through a subsidiary Hoop Holdings/Hoop Retail Stores LLC. Fiscal 2005 marked the first full year The Children's Place had managed the Disney Store. As of June 2007, the company owned and operated 872 The Children's Place stores and previously 328 Disney Stores before The Walt Disney Company moved to regain these rights. On March 26, 2008, Hoop Holdings/Hoop Retail Stores LLC and related subsidiaries of TCP that operated Disney Store retail locations filed a voluntarily petition for relief under Chapter 11 Bankruptcy. The Children's Place stores were not affected in any way by the bankruptcy filing for Hoop Retail. As of February 2, 2013, the company owned and operated 1,095 TCP stores and an online store at www.childrensplace.com.

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.

Criticism[edit]

Savar building collapse[edit]

On April 24, 2013 a building collapsed outside Dhaka, Bangladesh, which housed one of the factories where The Children's Place clothing was manufactured. At least 1,127 people died and over 2,438 were injured.[5] The factory housed a number of separate garment factories employing around 5,000 people, several shops, and a bank[6] and manufactured apparel for brands including the Benetton Group, Joe Fresh,[7] Primark, Monsoon, and DressBarn.[8][9] Of the 29 brands identified as having sourced products from the Rana Plaza factories, only 9 attended meetings held in November 2013 to agree a proposal on compensation to the victims. Several companies refused to sign including Walmart, Carrefour, Bonmarché, Mango, Auchan and Kik. The agreement was signed by Primark, Loblaw, Bonmarche and El Corte Ingles.[10]

T-shirt withdrawn[edit]

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!”[11]

References[edit]

  1. ^ The Children's Place, http://www.childrensplace.com
  2. ^ Vernon, Joan. "Secaucus, N.J.-Based Children's Place Seeks to Convert Browsers into Buyers.", The Record, February 27, 2004. Accessed July 16, 2008.
  3. ^ Yahoo Finance - PLCE Profile, http://finance.yahoo.com/q/pr?s=PLCE
  4. ^ Children's Place names new CEO, The Record, December 11, 2009 
  5. ^ Ahmed, Saeed; Lakhani, Leone (14 June 2013), "Bangladesh building collapse: An end to recovery efforts, a promise of a new start", CNN, retrieved 16 December 2013 
  6. ^ Zain Al-Mahmood, Syed (24 April 2013). "Matalan supplier among manufacturers in Bangladesh building collapse". The Guardian (London). Retrieved 21 October 2013. 
  7. ^ 'Extreme Pricing' At What Cost? Retailer Joe Fresh Sends Reps To Bangladesh As Death Toll Rises - Forbes
  8. ^ Nelson, Dean (24 April 2013). "Bangladesh building collapse kills at least 82 in Dhaka". The Daily Telegraph (London). Retrieved 24 April 2013. 
  9. ^ Alam, Julhas (24 April 2013). "At least 87 dead in Bangladesh building collapse". USA Today. Retrieved 24 April 2013. 
  10. ^ Ovi, Ibrahim Hossain (2013), Buyers' compensation for Rana Plaza victims far from reality, retrieved 16 December 2013 
  11. ^ http://www.salon.com/2013/08/06/the_worst_shirts_for_girls/

http://www.nytimes.com/2013/04/26/world/asia/bangladeshi-collapse-kills-many-garment-workers.html?pagewanted=all&_r=0