children's place inc/the (PLCE) Key Developments
Natalie Levy Leaves The Children's Place, Inc. as Chief Merchandising Officer
Feb 3 15
Natalie Levy, The Children's Place, Inc.'s Chief Merchandising Officer, left the company effective January 30, 2015.
The Children's Place, Inc. Presents at 17th Annual ICR XChange 2015, Jan-12-2015 through Jan-14-2015
Jan 9 15
The Children's Place, Inc. Presents at 17th Annual ICR XChange 2015, Jan-12-2015 through Jan-14-2015. Venue: JW Marriott Orlando Grande Lakes, Orlando, Florida, United States. Presentation Date(s): Jan-12-2015.
The Children's Place, Inc. Revises Earnings Guidance for the Fourth Quarter of 2014
Jan 8 15
The Children's Place, Inc. Revises earnings guidance for the fourth quarter of 2014. For the quarter, the company expects to achieve results in the upper end of the guidance range for both comparable retail sales, previously guided to increase low single digits, and adjusted net income per diluted share, previously guided to be between $0.83 and $0.93.
US Labor Department Files Suit to Restore Losses to The Children's Place Inc. Welfare Benefit Plan in Bradenton, Florida
Jan 7 15
Based on an investigation conducted by the U.S. Department of Labors Employee Benefits Security Administration, the secretary of labor has filed a complaint alleging that during the period between Aug. 1, 2009 and May 1, 2010, defendants The Childrens Place Inc. and Hendrik Johannes Lamprecht withheld a total of $14,192.36 in employee premium contributions from employee participants pay and failed to forwarded them to the plan in accordance with the Employee Retirement Income Security Act. Additionally, employee participants and their dependents incurred expenses of $13,979.13 for unpaid medical and prescription drug charges after their insurance coverage lapsed due to nonpayment of premiums. During the periods that employee premium contributions were not remitted to the plan, the funds were being used for the personal benefit of the defendants rather than for the exclusive benefit of the plan and the participants. The department is asking the court to order the defendants to restore all losses to the plan, including lost opportunity costs, resulting from the breach of their fiduciary obligations and to offset the individual accounts of any defendant against the amount of losses. The complaint also asks that the defendants be permanently enjoined from violating Title I of ERISA; from serving as fiduciary, officer, trustee, agent, or representative in any capacity to any employee benefit plan, as defined by ERISA; and to appoint a successor fiduciary or administrator at the defendants expense.
The Children's Place Closes Honolulu's Ala Moana Center
Jan 2 15
The Children's Place at Ala Moana Center in Honolulu is closing on January 24, 2015 because the retailer decided not to renew its lease with Hawaii's large shopping mall. The New Jersey-based children's apparel and accessories retailer still has two other locations that will remain open in Hawaii at Pearlridge Center in Central Oahu and Windward Mall in Kaneohe. The Children's Place at Ala Moana Center is currently holding a liquidation sale, with everything in the store 25% off.