Children's Place posted higher profits than 26 of the specialty retailers ranked above it on this year's Fortune 500. Despite its profitable performance, the children's clothing store chain saw its total revenues drop dramatically after it filed Chapter 11 for two of its subsidiaries which were operating the North American Disney Stores. Disney agreed to repurchase the 220 stores from those bankrupt subsidiaries in May, 2008.
Once divested of the Disney Stores and the Disney relationship, Children's Place posted improved profits immediately. But since the Fortune 500 rankings are based on gross revenue, the chain's profitable performance couldn't save it from its dramatic drop there.
In the first three months of 2009, Children's Place same store sales figures rose steadily, although they were lower than the same months last year. The company seems to be holding steady, with no store closings or layoffs announced this year, and no comitments for new store openings announced for 2009.
Once divested of the Disney Stores and the Disney relationship, Children's Place posted improved profits immediately. But since the Fortune 500 rankings are based on gross revenue, the chain's profitable performance couldn't save it from its dramatic drop there.
In the first three months of 2009, Children's Place same store sales figures rose steadily, although they were lower than the same months last year. The company seems to be holding steady, with no store closings or layoffs announced this year, and no comitments for new store openings announced for 2009.
