SECAUCUS, N.J., Sept. 8, 2014 (GLOBE NEWSWIRE) -- The Children's Place, Inc. (Nasdaq:PLCE), the largest pure-play children's specialty apparel retailer in North America, today announced the appointment of Robert Vill as Group Vice President, Finance, effective September 8, 2014. He will report to Michael Scarpa, Chief Operating Officer and Chief Financial Officer.
"Bob brings to The Children's Place a wealth of financial expertise in the areas of corporate finance, treasury and investor relations," commented Michael Scarpa. "I am very pleased to welcome him to our team."
"I am very excited to be joining The Children's Place and look forward to working closely with this talented management team as the Company continues to execute its strategic initiatives," said Robert Vill.
Mr. Vill has over 36 years of financial and operational management experience. He joins The Children's Place from Kate Spade & Company (formerly Fifth & Pacific Companies, Inc. / Liz Claiborne, Inc.), where he spent 15 years holding financial leadership roles of increasing responsibility, serving most recently as Senior Vice President, Finance and Treasurer, leading the finance, treasury and investor relations functions. Previously, Mr. Vill served as Vice President, Finance of Hanover Direct, and prior to that, Vice President, Treasurer of Saks Fifth Avenue.
About The Children's Place, Inc.
The Children's Place is the largest pure-play children's specialty apparel retailer in North America. The Company designs, contracts to manufacture, sells and licenses to sell fashionable, high-quality merchandise at value prices, primarily under the proprietary "The Children's Place," "Place" and "Baby Place" brand names. As of August 2, 2014, the Company operated 1,113 stores in the United States, Canada and Puerto Rico, an online store at www.childrensplace.com, and had 54 International stores open and operated by its franchise partners.
Forward Looking Statements
This press release may contain certain forward-looking statements regarding future circumstances, including statements relating to the Company's strategic initiatives and adjusted net income per diluted share. These forward-looking statements are based upon the Company's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results and performance to differ materially. Some of these risks and uncertainties are described in the Company's filings with the Securities and Exchange Commission, including in the "Risk Factors" section of its annual report on Form 10-K for the fiscal year ended February 1, 2014. Included among the risks and uncertainties that could cause actual results and performance to differ materially are the risk that the Company will be unsuccessful in gauging fashion trends and changing consumer preferences, the risks resulting from the highly competitive nature of the Company's business and its dependence on consumer spending patterns, which may be affected by the weakness in the economy that continues to affect the Company's target customer or by other factors such as increases in the cost of gasoline and food, the risk that the Company's strategic initiatives to increase sales and margin are delayed or do not result in anticipated improvements, the risk that the cost of raw materials or energy prices will increase beyond current expectations or that the Company is unable to offset cost increases through value engineering or price increases, and the uncertainty of weather patterns. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release (or on the above referenced call) does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material.
CONTACT: Investor Relations, (201) 558-2400 extension 14500Source:The Children's Place Retail Stores, Inc.