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Children’s Place Retail Stores Director Buys 15,000 Shares (PLCE)

Children’s Place Retail Stores Inc. (NASDAQ: PLCE) director Norman S. Matthews bough 15,000 shares of PLCE common stock last Friday.

PLCE bought 15,000 shares at a cost of $44.57 per share for a total investment of $668,550.

PLCE shares rose sharply in trading on Wednesday. The stock ended the day 2.73% higher at $47.85 on above average volume of 641,464. PLCE shares gained 6.03% in the last three trading sessions. Year-to-date, the stock fell 9.92%, underperforming the broad market.

Children’s Place is a children’s specialty apparel retailer in North America. The company is a provider of apparel, accessories, and shoes for children from newborn to 10 years old.

Children’s Place this week announced the signing of a ten-year franchise agreement with Apparel Group to open stores in the Arab Gulf States of United Arab Emirates, Kuwait, Qatar, Bahrain and Oman. Commenting on the development, Jane Elfers, President and CEO of Children’s Place Retail, said that PLCE is very excited to continue its expansion beyond North America with a number of stores opening in the UAE this year.

Elfers said that the Middle East retail landscape is very well developed and has high potential for PLCE’s brand and the company looks forward to working with Apparel Group, which has a proven track record of launching and operating international brands.

Children’s Place also announced that it entered into a ten-year franchise agreement with Fawaz A. AlHokair & Co. SJSC to open stores across Saudi Arabia.

Last month, Children’s Place reported its first-quarter financial results, posting net sales of $438.5 million. PLCE’s GAAP net income was $23.6 million, or $0.96 per share for the first quarter. Adjusted net income for the first quarter ended April 28, 2012 was $27.1 million, or $1.10 per diluted share.

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All stories in are for informational purposes only. This is NOT a stock recommendation. This story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at . About is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.