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ANNUAL
REPORT PURSUANT TO SECTION 15(d) OF THE
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o |
TRANSITION
REPORT PURSUANT TO SECTION 15(d) OF THE
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Page
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REPORTS
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMS
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2-3
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FINANCIAL
STATEMENTS:
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Statements
of Net Assets Available for Benefits as of December31, 2006 and
2005
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4
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Statement
of Changes in Net Assets Available for Benefits for the Year Ended
December31, 2006
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5
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Notes
to Financial Statements as of December31, 2006 and 2005, and for
the Year
Ended
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December
31, 2006
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6-12
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SUPPLEMENTAL
SCHEDULE:
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Form5500,
ScheduleH, PartIV, Line4i—Schedule of Assets (Held at End of
Year)
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as
of December31, 2006
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13
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SIGNATURE
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14
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EXHIBIT
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23.1
CONSENTS OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMS
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15-16
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THE
CHILDREN'S PLACE 401(k) SAVINGS PLAN
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||
STATEMENTS
OF NET ASSETS AVAILABLE FOR BENEFITS
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||
DECEMBER
31, 2006 AND 2005
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2006
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2005
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||||||
ASSETS:
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|||||||
Participant-directed
investments, at fair value
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$
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41,399,899
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$
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31,569,992
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|||
Receivables:
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|||||||
Employer
contribution
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-
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185,777
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|||||
Total
Assets
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41,399,899
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31,755,769
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|||||
LIABILITIES:
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|||||||
Administrative
expense payable
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-
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10
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|||||
Net
assets available for benefits, at fair value
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41,399,899
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31,755,759
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|||||
Adjustment
from fair value to contract value for fully benefit-responsive
investment
contracts
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96,407
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96,223
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|||||
NET
ASSETS AVAILABLE FOR BENEFITS
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$
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41,496,306
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$
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31,851,982
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THE
CHILDREN'S PLACE 401(k) SAVINGS PLAN
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STATEMENT
OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
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FOR
THE YEAR ENDED DECEMBER 31, 2006
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ADDITIONS:
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||||
Contributions:
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||||
Participant
contributions
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$
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6,241,995
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Employer
contributions
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2,628,289
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Rollovers
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1,171,057
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Total
contributions
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10,041,341
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Investment
income:
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||||
Net
appreciation in fair value of investments
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2,321,518
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Dividends
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1,989,573
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Interest
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54,123
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Net
investment income
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4,365,214
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TOTAL
ADDITIONS
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14,406,555
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|||
DEDUCTIONS:
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||||
Benefits
paid to participants
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4,723,195
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Administrative
expenses
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39,036
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Total
deductions
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4,762,231
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INCREASE
IN NET ASSETS
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9,644,324
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NET
ASSETS AVAILABLE FOR BENEFITS:
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Beginning
of year
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31,851,982
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|||
End
of year
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$
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41,496,306
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1.
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DESCRIPTION
OF THE PLAN
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Years
of Service
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Vested
Percentage
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1
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0%
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2
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25%
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3
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50%
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4
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75%
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5
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100%
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2.
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SUMMARY
OF SIGNIFICANT ACCOUNTING
POLICIES
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3.
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RISKS
AND UNCERTAINTIES
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4.
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INVESTMENT
CONTRACT
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5.
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INVESTMENTS
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2006
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2005
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||||||
**Fidelity
Equity Income Fund (105,763 shares and 98,036 shares,
respectively)
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$
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6,192,417
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$
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5,174,353
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**Fidelity
Diversified International Fund (97,088 shares and 76,190 shares,
respectively)
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3,587,413
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2,479,223
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|||||
**Fidelity
Mid-Cap Stock Fund (121,873 shares and 100,365 shares,
respectively)
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3,551,372
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2,666,695
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|||||
**†Fidelity
Managed Income Portfolio Fund, at contract value (9,669,997 shares
and
8,588,420 shares, respectively)
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9,669,997
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8,588,420
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|||||
**The
Children's Place Common Stock (32,246 shares and 35,079 shares,
respectively)
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2,048,277
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1,733,594
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|||||
All
other investments
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16,446,830
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11,023,929
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|||||
TOTAL
INVESTMENTS
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$
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41,496,306
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$
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31,666,215
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**Party-in-interest
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|||||||
†
Fair value of the Fidelity Managed Income Portfolio as of December
31,
2006 and 2005 was $9,573,774 and $8,492,197, respectively.
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Mutual
Funds
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$
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1,829,845
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The
Children's Place Common Stock
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491,673
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Net
appreciation in fair value of investments
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$
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2,321,518
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6. |
EXEMPT
PARTY-IN-INTEREST
TRANSACTIONS
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7.
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PLAN
TERMINATION
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8.
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FEDERAL
INCOME TAX STATUS
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9.
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RECONCILIATION
OF FINANCIAL STATEMENTS TO FORM
5500
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2006
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2005
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||||||
Net
assets available per the financial statements
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$
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41,496,306
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$
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31,851,982
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|||
Less:
Participant loan amounts deemed distributed for tax
purposes
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(8,559
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)
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(11,592
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)
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Less:
Adjustment from fair value to contract value for fully benefit-responsive
investment contracts
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(96,407
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)
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-
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||||
Net
assets available for benefits per Form 5500
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$
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41,391,340
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$
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31,840,390
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2006
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Interest
per the financial statements
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$
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54,123
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Less:
Interest on deemed distributed loans with no post- default
payments
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(570
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)
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Total
interest per Form 5500
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$
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53,553
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2006
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Benefits
paid to participants per the financial statements
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$
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4,723,195
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Less:
Prior year participant loans deemed distributed for tax
purposes
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(11,592
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)
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Add:
Current year participant loans deemed distributed for tax
purposes
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8,559
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Less:
Interest on deemed loans with no default payments
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(570
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)
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Less:
Prior year Adjustment from fair value to contract value for fully
benefit-responsive investment contracts
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(96,223
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)
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Add:
Current year Adjustment from fair value to contract value for fully
benefit-responsive investment contracts
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96,407
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Benefit
payments to participants per Form 5500
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$
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4,719,776
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THE
CHILDREN'S PLACE 401(k) SAVINGS PLAN
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FORM
5500, SCHEDULE H, PART IV, LINE 4i -
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||||
SCHEDULE
OF ASSETS (HELD AT END OF YEAR)
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EIN:
31-1241495
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AS
OF DECEMBER 31, 2006
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PLAN
No. 001
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|||
(a)
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(b)
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(c)
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(d)
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(e)
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|
Identity
of Issue, Borrower,
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Description
of Investment, Including
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Cost
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Current
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Lessor
or Similar Party
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Maturity
Date, Rate of Interest,
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Value
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Collateral,
Par or Maturity Value
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*
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Fidelity
Equity Income Fund
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Mutual
Fund
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**
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$6,192,417
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*
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Fidelity
Investment Grade Bond Fund
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Mutual
Fund
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**
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1,881,288
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*
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Fidelity
Blue Chip Growth Fund
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Mutual
Fund
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**
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1,893,331
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*
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Fidelity
Low Priced Stock Fund
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Mutual
Fund
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**
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1,501,690
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*
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Fidelity
Diversified International Fund
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Mutual
Fund
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**
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3,587,413
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*
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Fidelity
Dividend Growth Fund
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Mutual
Fund
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**
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1,144,496
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*
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Fidelity
Small Cap Independent Fund
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Mutual
Fund
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**
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1,056,672
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*
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Fidelity
Mid-Cap Stock Fund
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Mutual
Fund
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**
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3,551,372
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*
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Fidelity
Freedom Income Fund
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Mutual
Fund
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**
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141,076
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*
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Fidelity
Freedom 2000 Fund
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Mutual
Fund
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**
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138,297
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*
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Fidelity
Freedom 2010 Fund
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Mutual
Fund
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**
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602,266
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*
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Fidelity
Freedom 2020 Fund
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Mutual
Fund
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**
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1,199,223
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*
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Fidelity
Freedom 2030 Fund
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Mutual
Fund
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**
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1,181,300
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*
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Fidelity
Freedom 2040 Fund
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Mutual
Fund
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**
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696,418
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*
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Fidelity
Freedom 2005 Fund
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Mutual
Fund
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**
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64,449
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*
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Fidelity
Freedom 2015 Fund
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Mutual
Fund
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**
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808,645
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*
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Fidelity
Freedom 2025 Fund
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Mutual
Fund
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**
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614,970
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*
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Fidelity
Freedom 2035 Fund
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Mutual
Fund
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**
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578,788
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*
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Fidelity
Managed Income Portfolio
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Common/Collective
Fund
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**
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9,573,774
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Spartan
US Equity Index Fund
|
Mutual
Fund
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**
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917,004
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AMR
Small Cap Value Fund
|
Mutual
Fund
|
**
|
865,824
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*
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The
Children's Place Common Stock
|
Common
Stock
|
**
|
2,048,277
|
*
|
The
Children’s Place Stock Purchase Acct.
|
Interest
Bearing Cash
|
**
|
225
|
*
|
Loans
to Participants
|
Loan
Fund - Participant Loans at
|
**
|
|
interest
rates ranging from 5% to 10%
|
||||
maturity
dates from 2007 to 2016
|
1,152,125
|
|||
TOTAL
INVESTMENTS
|
$41,391,340
|
*Party
in interest
|
|||||
**Cost
information is not required for participant directed investments,
and is
therefore not included.
|
The Children’s Place 401(k) Savings Plan | ||
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By: | /s/ Susan Riley | |
Executive Vice President, Finance & Administration | ||