The Children’s Place Closes 16 Stores, Opens 1

The Children’s Place Inc. (Secaucus, N.J.) closed 16 stores during its most recent quarter ended Feb. 1, while opening one new outlet. The retailer, which describes itself as the largest pure-play children’s specialty retailer in North America with stores operating under its flagship brand and Gymboree, disclosed that information in its financial results for that quarter and its full fiscal year.

For its most recent fiscal year, the retailer’s net sales fell $216.2 million, or 13.5%, to $1.386 billion, and a net loss of of $57.8 million, down from the $154.5 million it lost a year earlier.

While it disclosed the closing of 16 stores in its most recent quarter – part of a multi-year effort to rid itself of underperforming stores – the retailer did not say how many stores it closed for the year. The one new store – its first in two years – was a Gymboree in the Westfield Garden State Plaza in Paramus, N.J. It currently has 495 stores in total.

Looking ahead, President and Interim CEO Muhammad Umair said, “… We are committed to strengthening and enhancing our store portfolio by improving the performance of our existing store fleet, while developing innovative designs to be used in targeted store openings for both The Children’s Place and Gymboree brands in the back-half of 2025 and beyond.”