Children's Place Retail Stores' auditor steps down
Children's Place Retail Stores, Inc. (Nasdaq: PLCE) announced before the opening that its auditor Deloitte & Touche will step down after finishing the clothing store retailer’s fiscal 2006 report. The Secaucus, N.J.-based company said it is in negotiations with another accounting firm and expects to announce a hiring soon.
Separately, Children’s Place announced that September sale-store sales fell 3%, which missed Wall Street expectations of a 1.1% decline.
In midday trading, PLCE shares are down 1.58%, or $0.37, at $23.03. Over the last 52 weeks, shares have ranged from $20.56 to $71.81.
