The Children's Place

Last updated
The Children’s Place Inc.
Company type Public
IndustryApparel
Founded1969;55 years ago (1969)
FoundersDavid Pulver
Clinton Clark
Headquarters Secaucus, New Jersey
Number of locations
904 (2023) [1]
Area served
Worldwide
ProductsChildren’s apparel and accessories
RevenueDecrease2.svg US$1.708 billion (2023)
Decrease2.svg −US$1.530 billion (2023)
Decrease2.svg −US$1.381 billion (2023)
Total assets Decrease2.svg US$986.28 million (2023)
Total equity Decrease2.svg US$158.478 million (2023)
Number of employees
3,300 (2023)
Subsidiaries Gymboree
Website www.childrensplace.com

The Children's Place Inc. is an American specialty retailer of children's apparel and accessories headquartered in Secaucus, New Jersey. [2] It also markets apparel under the Children's Place, Place, Baby Place, and Gymboree brand names. [3]

Contents

As of October 31, 2015, it operated 955 stores in the United States, Canada and Puerto Rico, an online store at www.childrensplace.com, and had 90 international stores operated by its franchise partners in 12 countries. [4]

History

The Children's Place in Manhattan (now closed) The Children's Place Storefront (48089818762).jpg
The Children's Place in Manhattan (now closed)

The company was founded in 1969. It was acquired by Federated Department Stores in 1981. [5] After Campeau Corporation acquired Federated, they sold The Children's Place to a group led by Joseph Sitt in 1988. [6] They became publicly traded on the NASDAQ exchange in 1997 under the ticker symbol PLCE.[ citation needed ]

The Children's Place had a location in the mall in New York's World Trade Center. This location was eventually destroyed during the September 11 attacks in 2001. [7]

Between 2004 and 2007, the company owned and operated 335 Disney Stores through a subsidiary Hoop Holdings/Hoop Retail Stores LLC. [8] Disney sold the chain for the cost of inventory to Children's Place subsidiary Hoop Holdings, plus a 15-year licensing agreement. [9] [8] Mario Ciampi, senior vice president of store development and logistics, was named Hoop/Disney Store North America president. The company agreed to pump $100 million in operation upgrades and remodeling. [10] Under the licensing agreement, a "royalty holiday" period existed until October 2006 to allow revamping of the stores. The royalty thereafter was 5% of store sales, while online sales get Disney a 9% to 10% royalty. Hoop Holdings was able to write off the cost ($48 million) of the equipment and property received in the purchase. [9]

Hoops saw progress with its strategy as open stores in 2006 for 11 months saw 15% increase in sales assisted by a better Disney box office results and the Disney Channel hit High School Musical . A store website would be up and running in April 2007. [9]

In June 2007, the company began negotiations to sell the rights back to The Walt Disney Company. [8] On March 26, 2008, Hoop Holdings/Hoop Retail Stores LLC and related subsidiaries of TCP that operated Disney Store retail locations filed for bankruptcy. [8] Hoop obtained from Wells Fargo $35 million of debtor-in-possession financing and appointed Perry Mandarino of Traxi LLC, the Manhattan financial-restructuring company, as chief restructuring officer. [11] On May 1, 2008, 231 Disney Stores in North America once again became the property of Disney, operating under the Disney Consumer Products arm. [12]

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. [13]

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 the T-shirt stated "Nobody’s perfect!" [14]

A factory in the Rana Plaza building near Dhaka, Bangladesh that produced Children's Place merchandise collapsed in April 2013, killing 1,134 people. [15] [16] 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.

Jane Elfers stepped down as CEO on May 21, 2024, receiving a $3.75M payout to exit the company. [17]

Operations

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.

Related Research Articles

<span class="mw-page-title-main">Macy's, Inc.</span> American department store holding company

Macy's, Inc. is an American holding company of department stores. Upon its establishment in 1929, Federated held ownership of the regional department store chains Abraham & Straus, Lazarus, Filene's, and Shillito's. Bloomingdale's joined Federated Department Stores the next year. Throughout its early history, frequent acquisitions and divestitures saw the company operate a number of nameplates. In 1994, Federated took over the department store chain Macy's. Despite a long history of preserving regional nameplates, with the acquisition of The May Department Stores Company in 2005, they were retired and replaced by the Macy's and Bloomingdale's brands nationwide by 2006. Ultimately, Federated itself was renamed Macy's, Inc. in 2007.

<span class="mw-page-title-main">Macy's</span> American department store chain

Macy's is an American department store chain founded in 1858 by Rowland Hussey Macy. It has been a sister brand to the Bloomingdale's department store chain since being acquired by holding company Federated Department Stores in 1994, which renamed itself Macy's, Inc. in 2007. It is the largest department store company by retail sales in the United States as of 2015.

American Eagle Outfitters, Inc. is an American clothing and accessories retailer headquartered at SouthSide Works in Pittsburgh, Pennsylvania. It was founded in 1977 by brothers Jerry and Mark Silverman as a subsidiary of Retail Ventures, Inc., a company that also owned and operated Silverman's Menswear. The Silvermans sold their ownership interests in 1991 to Jacob Price of Knoxville, Tennessee. American Eagle Outfitters is the parent company of Aerie, Unsubscribed and Todd Snyder.

<span class="mw-page-title-main">Disney Store</span> Company selling Disney products

The Disney Store is a chain of specialty stores created on March 28, 1987 and sells only Disney related items, many of them exclusive, under its own name and Disney Outlet. It was a business unit of Disney Consumer Products with the Disney Experiences segment of The Walt Disney Company conglomerate.

Gildan Activewear Inc. (/ˈɡɪldən/) is a Canadian manufacturer of branded clothing, including undecorated blank activewear such as t-shirts, sport shirts and fleeces, which are subsequently decorated by screen printing companies with designs and logos. The company also supplies branded and private label athletic, casual, and dress socks to retail companies in the United States including Gold Toe Brands, PowerSox, SilverToe, Auro, All Pro, and the Gildan brand. The company also manufactures and distributes Under Armour and New Balance brand socks. The company has approximately 44,000 employees worldwide, and owns and operates manufacturing facilities in Rio Nance, Honduras and the Caribbean.

<span class="mw-page-title-main">Auchan</span> French multinational retail company

Auchan is a French multinational retail group headquartered in Croix, France. It was founded in 1961 by Gérard Mulliez and is owned by the Mulliez family, who has 95% stake in the company. With 354,851 employees, of which 261,000 have 5% stake in the company, it is the 35th largest employer in the world.

<span class="mw-page-title-main">Buckle (clothing retailer)</span> American fashion retailer

The Buckle, Inc. is an American fashion retailer selling clothing, footwear, and accessories for men, women, and children. The company operates 451 stores in 42 states throughout the United States of America, under the names Buckle and The Buckle. Buckle markets brand name and private label apparel, including denim, other casual bottoms, tops and shirts, dresses and rompers, sportswear and athleisure, outerwear, footwear, swimwear, fragrances, sunglasses, bags and purses, wallets, and other accessories.

Matalan Retail Ltd. is a British fashion and homeware retailer based in Knowsley, Merseyside. It was established by John Hargreaves in 1985, and is still owned by the Hargreaves family. As of 2020, the company employed over 13,000, and had 230 stores in the United Kingdom, together with franchise stores in the Middle East.

<span class="mw-page-title-main">J.Crew</span> American retail company

J.Crew Group, Inc., is an American multi-brand, multi-channel, specialty retailer. The company offers an assortment of women's, men's, and children's apparel and accessories, including swimwear, outerwear, lounge-wear, bags, sweaters, denim, dresses, suiting, jewelry, and shoes.

<span class="mw-page-title-main">Brea Mall</span> Shopping mall in California, United States

The Brea Mall is an enclosed shopping mall located in the Orange County city of Brea, California. Since 1998, the mall has been owned and operated by the Simon Property Group. It is home to four major department stores, 179 specialty shops and boutiques, and a food court. It is 1,281,795 sq ft (119,083 m2). The anchors are Macy's, Macy's Men's & Home, JCPenney, and Nordstrom with one vacant anchor last occupied by Sears that has yet to be redeveloped into Life Time Fitness, retail, entertainment, and apartments.

<span class="mw-page-title-main">Aeon (company)</span> Japanese multinational retail holding company

Aeon Co., Ltd., formerly Jusco Co., Ltd., is a Japanese diversified retail holding company. It is one of the largest retail companies in Japan, owning Aeon hypermarkets, Aeon Mall and Aeon Town shopping malls, Daiei, MaxValu, Maruetsu, and My Basket supermarkets, Ministop convenience store, Welcia drugstore, and Aeon Cinema movie theaters.

L. S. Ayres and Company was a department store based in Indianapolis, Indiana, and founded in 1872 by Lyman S. Ayres. Over the years its Indianapolis flagship store, which opened in 1905 and was later enlarged, became known for its women's fashions, the Tea Room, holiday events and displays, and the basement budget store. As urban populations shifted to the suburbs, Ayres established branch stores in new shopping centers in several Indiana cities. Ayres also acquired retail subsidiaries in Springfield, Illinois; Fort Wayne, Indiana; and Louisville, Kentucky. Ayr-Way, the Ayres discount store subsidiary, became the first discount store launched by a full-line department store. By the end of the 1960s Ayres had become a diversified merchandising business with retail department stores, a chain of discount stores, specialty clothing stores, a home furnishings showroom, and a real estate holding company. A long-time Ayres slogan, "That Ayres Look", promoted the company as a fashion leader, and by 1972 it had become the oldest continuous retail slogan in the United States.

<span class="mw-page-title-main">VF Corporation</span> American apparel company

VF Corporation is an American global apparel and footwear company founded in 1899 by John Barbey and headquartered in Denver, Colorado. The company's 13 brands are organized into three categories: Outdoor, Active and Work. In 2015, the company controlled 55% of the U.S. backpack market with the JanSport, Eastpak, Timberland, and The North Face brands.

<span class="mw-page-title-main">Uniqlo</span> Japanese casual-wear designer, manufacturer and retailer

Uniqlo Co., Ltd. is a Japanese casual wear designer, fast-fashion manufacturer and retailer. The company is a wholly owned subsidiary of Fast Retailing Co., Ltd.

Wilsons Leather is a U.S. leather brand, selling products such as leather jackets, belts, shoes, handbags, and gloves. At its peak in 2002, the Minneapolis-based retailer had 763 stores in 46 states and Canada. The company stores used to sell product assortments from brands such as DKNY, Michael Kors, Guess, and Cole Haan.

MJ Department Stores Sdn Bhd is a popular retail company in Malaysia which offers items at a medium-to-high rate. The company opened its first store at Pertama Complex, Kuala Lumpur in September, 1976,with a retail space of 18,305 sq ft. Metrojaya's latest outlet, in Berjaya Times Square closed in December 2009, after only three years of operation. Metrojaya currently has four outlets in Malaysia namely Mid Valley Megamall, Suria Sabah, Permaisuri Imperial City Mall and LaLaport BBCC.

Southpole is an American wholesale clothing and fashion company, designer, distributor, licensor, and marketer based in Fort Lee, New Jersey, with operating headquarters in New York City. The company was founded in 1991 by two Korean American brothers, David Khym and Kenny Khym under their company name, Wicked Fashions Inc. The company's showroom is located on Fashion Avenue in Manhattan.

Disney Consumer Products, Inc. is the retailing and licensing subsidiary of the Disney Experiences segment of The Walt Disney Company. Previously, Consumer Products was a segment of Disney until 2016, then a unit of Disney Consumer Products and Interactive Media (2016–2018).

<span class="mw-page-title-main">Destination XL Group</span> Specialty retailer of mens big and tall apparel

Destination XL Group, Inc. (DXLG) is a leading retailer of Men's Big and Tall apparel with 290 retail and outlet store locations throughout the United States operated under the business subsidiaries DXL and Casual Male XL. The company also operates an e-commerce website (dxl.com) and an Android and iOS mobile app serving customers in the United States, Canada, The United Kingdom, Greater China and other global markets. The company is headquartered in Canton, Massachusetts, and is listed on the NASDAQ Global Market under the symbol "DXLG".

Sears Holdings Corporation was an American holding company headquartered in Hoffman Estates, Illinois. It was the parent company of the chain stores Kmart and Sears and was founded after the former purchased the latter in 2005. It was the 20th-largest retailing company in the United States in 2015. It filed for Chapter 11 bankruptcy on October 15, 2018, and sold its assets to ESL Investments in 2019. The new owner moved Sears assets to its newly formed subsidiary Transformco and after that, Sears Holdings Corporation was closed.

References

Commons-logo.svg Media related to The Children's Place at Wikimedia Commons

  1. ↑ Sabanoglu, Tugba (December 16, 2022). "Number of stores of The Children's Place in North America as of 2022". Statista. Retrieved September 25, 2023.
  2. ↑ Vernon, Joan (February 27, 2004). "Secaucus, N.J.-Based Children's Place Seeks to Convert Browsers into Buyers". The Record . Retrieved July 16, 2008.
  3. ↑ "The Children's Place, Inc. (PLCE) Company Profile & Facts - Yahoo Finance". finance.yahoo.com. Retrieved 2023-07-11.
  4. ↑ "Investor Relations - Corporate Overview". corporate-ir.net. Retrieved 2016-03-04.
  5. ↑ Ap (1981-10-07). "Federated Set To Buy Chain". The New York Times. ISSN   0362-4331 . Retrieved 2018-08-26.
  6. ↑ "Federated Division To Be Sold". tribunedigital-chicagotribune. Retrieved 2018-08-26.
  7. ↑ https://web.archive.org/web/20010421023017/http://www.panynj.gov/wtc/wtcsfram.HTM [ bare URL ]
  8. 1 2 3 4 "Unit of Children's Place that operates Disney Stores files for bankruptcy". nj.com. 2008-03-27. Retrieved 2016-03-04.
  9. 1 2 3 Menn, Joseph (23 December 2006). "New ownership turns Disney Stores around". Los Angeles Times. Retrieved December 29, 2016.
  10. ↑ "Children's Place to buy US Disney Stores". The Retail Bulletin. October 20, 2004. Retrieved January 5, 2017.
  11. ↑ Daniel, Robert (March 27, 2008). "Children's Place's Disney Store unit files Chapter 11". MarketWatch. Retrieved 27 November 2012.
  12. ↑ Chmielewski, Dawn C. (September 6, 2011). "Head of Disney Consumer Products group steps down". Los Angeles Times. Retrieved 15 November 2012.
  13. ↑ Children's Place names new CEO, The Record, December 11, 2009
  14. ↑ "The worst shirts for girls". 7 August 2013.
  15. ↑ Hoskins, Tansy (April 23, 2015). "Reliving the Rana Plaza factory collapse: a history of cities in 50 buildings, day 22". The Guardian. Retrieved 5 May 2019.
  16. ↑ "Western Firms Feel Pressure as Toll Rises in Bangladesh". The New York Times . 2013-04-25. Retrieved 2016-03-04.
  17. ↑ Editor, Clark Schultz, SA News (2024-05-21). "Children's Place plunges after announcing the departure of its CEO (NASDAQ:PLCE) | Seeking Alpha". seekingalpha.com. Retrieved 2024-05-21.{{cite web}}: |last= has generic name (help)CS1 maint: multiple names: authors list (link)
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.