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THE CHILDREN'S PLACE Exhibit 99.1 THE CHILDREN'S PLACE REPORTS RECORD THIRD QUARTER NET SALES , GROSS MARGIN , OPERATING MARGIN AND EARNINGS PER SHARE Q3 GAAP Earnings per Diluted Share of $ 5.30 versus GAAP Earnings per Diluted Share of $ 0.91 in Q3 2020 Q3 Adjusted Earnings per Diluted Share of $ 5.43 versus Adjusted Earnings per Diluted Share of $ 1.35 in Q3 2020 Secaucus , New Jersey – November 18 , 2021 – The Children's Place , Inc. ( Nasdaq : PLCE ) , the largest pure - play children's specialty apparel retailer in North America , today announced financial results for the third quarter ended October 30 , 2021 . Jane Elfers , President and Chief Executive Officer , said , " We delivered another outstanding quarter with sales , gross margin , operating margin and EPS all at record levels . To help put the magnitude of our turnaround into perspective , our Q3 2021 adjusted operating income of $ 117 million exceeded our Full Year 2019 adjusted operating income of $ 111 million . The significant structural changes we made to our business in 2020 , combined with the accelerated digital investments we made pre - pandemic , continue to propel our results . " Ms. Elfers continued , “ Our digital business continues to accelerate on both the top and bottom lines . Our digital sales represented an industry - leading 45 % of our total net sales for Q3 2021 , versus 35 % in Q3 2019 , with over 71 % of our digital business now coming through a mobile device . As we target a steady state annual digital penetration of 50 % , we continue to invest in marketing and technology to support our highest operating margin channel . " Ms. Elfers continued , “ On November 9th , we announced the launch of our newest brand , Sugar & Jade . The U.S. tween market is estimated at approximately $ 8 billion annually , and we are thrilled to offer a dedicated tween line that meets the needs of these customers . Based on the strength of our big girls ' business , we have over four million customers to whom we are actively marketing this exciting new digital - only brand . ” Ms. Elfers concluded , " While we are only a few weeks in , Q4 is off to a very strong start . We continue to operate at a high level , while navigating the ever- changing COVID landscape . We remain firmly on offense and we look forward to continuing to deliver accelerated operating margin expansion for 2021 and beyond . " Third Quarter 2021 Results Net sales increased $ 132.6 million , or 31.2 % , to $ 558.2 million in the three months ended October 30 , 2021 from $ 425.6 million in the three months ended October 31 , 2020 , primarily driven by strong customer response to our product assortment and the strategic reset of our pricing and promotions . Comparable retail sales were 36.2 % for the quarter . 1