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Stock Market & Financial Investment News

News Breaks
April 11, 2014
09:05 EDTPLCEChildren's Place turnaround opportunities compelling, says FBR Capital
FBR Capital believes Children's Place offers one of the most compelling turnaround opportunities in specialty retail. FBR says it is more positive on the company's turnaround story after meeting with management and it reiterates an Outperform rating on the name with a $60 price target.
News For PLCE From The Last 14 Days
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April 27, 2015
08:17 EDTPLCEChildren's Place recommends holders support its independent director nominees
Children's Place announced that it has filed definitive proxy materials with the SEC and mailed a white proxy card to its shareholders in connection with its 2015 Annual Meeting of Shareholders, which will be held on May 22. Children’s Place shareholders of record as of the close of business on April 10, are entitled to vote at the 2015 Annual Meeting. The board of Children’s Place has also sent a letter to its shareholders outlining the successful continued execution of its strategic plan to transform the company, as well as its strong track record for delivering shareholder value. The letter urges shareholders to vote for the company’s strong slate of three independent director nominees and to reject the candidates set forth by Macellum SPV II, L.P. and Barington Companies Equity Partners, which together own approximately 2% of the company’s shares.
April 13, 2015
08:05 EDTPLCEChildren's Place rejects director nominations from Barington, Macellum
The Children's Place confirmed that it has received notice from Barington Capital Group, L.P. and Macellum Advisors GP, LLC, which collectively own less than 2% of the company’s shares, that they have nominated three individuals in opposition to The Children’s Place’s three nominees -- Norman Matthews, Kenneth Reiss and Stanley Reynolds -- standing for re-election to the Board of Directors at the company’s 2015 Annual Meeting of Stockholders, to be held on May 22, 2015. The Children’s Place's Board of Directors has evaluated Barington and Macellum’s nominees and concluded that the company’s three nominees and the other members of the Board have the right combination of expertise, experience and independence. As such, the Board recommends election of the company’s nominees and has rejected the Barington/Macellum nominees. Stockholders do not need to take any action at this time. Matthews continued: “We appreciate constructive input from our shareholders and are always open to listen to ideas to improve the Company. However, we believe that Barington and Macellum’s views on the Company’s leadership and performance are simply incorrect. Our Board and management team are driving a transformation of The Children’s Place, which has resulted in a significant increase in shareholder value, measured by an increase in stock price, share repurchases and the payment of dividends. Substantial progress has been made, and we expect to continue to see the benefits of our meaningful investments in 2015. Our management team has updated our merchandise assortments, developed and is implementing a sweeping systems and technology transformation plan, transformed our outlet channel, launched international franchise and wholesale businesses, and evaluated and continues to optimize our store fleet. We believe The Children’s Place is well positioned to continue to excel in the intensely competitive specialty children’s apparel category.” Goldman, Sachs & Co. is financial advisor to The Children’s Place. Paul, Weiss, Rifkind, Wharton & Garrison LLP is the Company’s legal advisor.

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