Edgar Filing: FLAKS RICHARD

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

FLAKS RICHARD

2. Issuer Name and Ticker or Trading Symbol
CHILDRENS PLACE RETAIL STORES INC [PLCE]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
SVP, Planning, Allocation & IT

(Last)

(First)

(Middle)

C/O THE CHILDREN'S PLACE RETAIL STORES, 915 SECAUCUS ROAD

3. Date of Earliest Transaction (Month/Day/Year)
05/26/2009

(Street)

SECAUCUS, NJ 07094

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $0.10 per share	05/26/2009		M		12,000 ⁽¹⁾	A	$ 17.92	22,887 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		300 ⁽²⁾	D	$ 34.26	22,587 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		400 ⁽²⁾	D	$ 34.32	22,187 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		300 ⁽²⁾	D	$ 34.43	21,887 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		400 ⁽²⁾	D	$ 34.77	21,487 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		100 ⁽²⁾	D	$ 34.88	21,387 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		200 ⁽²⁾	D	$ 34.95	21,187 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		300 ⁽²⁾	D	$ 34.96	20,887 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		100 ⁽²⁾	D	$ 35.05	20,787 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		600 ⁽²⁾	D	$ 35.26	20,187 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		300 ⁽²⁾	D	$ 35.31	19,887 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		300 ⁽²⁾	D	$ 35.39	19,587 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		600 ⁽²⁾	D	$ 35.4	18,987 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		200 ⁽²⁾	D	$ 35.44	18,787 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		400 ⁽²⁾	D	$ 35.5	18,387 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		300 ⁽²⁾	D	$ 35.54	18,087 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		200 ⁽²⁾	D	$ 35.55	17,887 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		400 ⁽²⁾	D	$ 35.58	17,487 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		400 ⁽²⁾	D	$ 35.63	17,087 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		100 ⁽²⁾	D	$ 35.64	16,987 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		100 ⁽²⁾	D	$ 35.65	16,887 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		200 ⁽²⁾	D	$ 35.66	16,687 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		400 ⁽²⁾	D	$ 35.68	16,287 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		400 ⁽²⁾	D	$ 35.69	15,887 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		400 ⁽²⁾	D	$ 35.71	15,487 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		100 ⁽²⁾	D	$ 35.73	15,387 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		300 ⁽²⁾	D	$ 35.79	15,087 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		200 ⁽²⁾	D	$ 35.8	14,887 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		300 ⁽²⁾	D	$ 35.81	14,587 ⁽³⁾	D
Common Stock, par value $0.10 per share	05/26/2009		S		400 ⁽²⁾	D	$ 35.82	14,187 ⁽³⁾	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Employee Stock Options (Right to Buy)

$ 17.92

05/26/2009

12,000

⁽⁴⁾

08/14/2013

Common Stock

12,000

$ 0

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
FLAKS RICHARD C/O THE CHILDREN'S PLACE RETAIL STORES 915 SECAUCUS ROAD SECAUCUS, NJ 07094			SVP, Planning, Allocation & IT

Signatures

/s/ Richard Flaks		05/28/2009
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	These shares of common stock, par value $0.10 per share ("Common Stock"), of The Children's Place Retail Stores, Inc. (the "Company") were issued upon the exercise of options pursuant to a previously adopted Rule 10b5-1 trading plan (the "Rule 10b5-1 Trading Plan").
(2)	These shares of Common Stock were sold pursuant to the Rule 10b5-1 Trading Plan.
(3)	Includes 10,887 shares of Common Stock underlying deferred stock awards that have not yet vested.
(4)	Initially, these options were to become exercisable in five equal installments of 20% (on a cumulative basis) commencing on October 31, 2004 and each anniversary thereof. On January 27, 2006, the Company accelerated the vesting of all options that had not vested, and all of these options became immediately exercisable on December 5, 2007.
Remarks: Exhibit List Exhibit 24 - Power of Attorney

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