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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>UNITED
      STATES </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SECURITIES
      AND EXCHANGE COMMISSION </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Washington,
      D.C. 20549 </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><a name="FIS_UNIDENTIFIED_TABLE"/>
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        <hr style="COLOR: black" align="center" noshade size="1" width="10%">
      </div>
      <div>&#160;</div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>FORM
      8-K </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
      REPORT </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>PURSUANT
      TO SECTION 13 OR 15 (d) </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>OF
      THE SECURITIES EXCHANGE ACT OF 1934 </strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="50%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
                of Report (date of earliest event reported) </font></div>
            </td>
            <td align="right" valign="top" width="22%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">July
                27, 2006 </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>THE
      CHILDREN'S PLACE RETAIL STORES, INC. </strong></font></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="72%" style="border-bottom: black thin solid;">&#160;&#160;</td>
          </tr>
          <tr>
            <td valign="top" width="72%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
                name of registrant as specified in its charter)
</font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="23%" style="border-bottom: medium none;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">DELAWARE
                </font>
                <hr style="COLOR: black" align="left" noshade size="1" width="100%">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
                or other jurisdiction </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">of
                incorporation) </font></div>
            </td>
            <td width="2%">&#160;</td>
            <td valign="top" width="23%" style="border-bottom: medium none;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">0-23071
                </font>
                <hr style="COLOR: black" align="left" noshade size="1" width="100%">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission
                </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">File
                Number) </font></div>
            </td>
            <td width="2%">&#160;</td>
            <td valign="top" width="23%" style="border-bottom: medium none;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">31-1241495
                </font>
                <hr style="COLOR: black" align="left" noshade size="1" width="100%">
              </div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(IRS
                Employer ID </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Number)
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="50%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">915
                Secaucus Road, Secaucus, New Jersey </font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">07094
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="50%" style="border-bottom: medium none;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
                of principal executive offices) </font></div>
            </td>
            <td valign="top" width="22%" style="border-bottom: medium none;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Zip
                Code) </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td align="left" valign="top" width="50%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Registrant's
                Telephone Number, including area code: </font></div>
            </td>
            <td align="left" valign="top" width="22%" style="border-bottom: black thin solid;">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(201)
                558-2400 </font></div>
            </td>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div>
      <table cellpadding="0" cellspacing="0" width="100%">

          <tr>
            <td valign="top" width="72%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Not
                Applicable </font></div>
            </td>
          </tr>
          <tr>
            <td valign="top" width="72%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Former
                name or former address, if changed since last report)
                </font></div>
            </td>
          </tr>

      </table>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions: </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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          <tr>
            <td align="left" valign="top" width="4%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">[&#160;&#160;&#160;&#160;&#160;]
                </font></div>
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            <td align="left" valign="top" width="68%">
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425) </font></div>
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          </tr>

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          <tr>
            <td align="left" valign="top" width="4%">
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                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12) </font></div>
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          <tr>
            <td align="left" valign="top" width="4%">
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                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c)) </font></div>
            </td>
          </tr>

      </table>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div id="PGBRK" style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
      <div id="FTR">
        <div id="GLFTR" style="WIDTH: 100%" align="left">&#160;</div>
      </div>
      <div id="PN" style="PAGE-BREAK-AFTER: always">
        <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
        <div style="WIDTH: 100%; TEXT-ALIGN: center">
          <hr style="COLOR: black" noshade size="2">
        </div>
      </div>
      <div id="HDR">
        <div id="GLHDR" style="WIDTH: 100%" align="right">&#160;</div>
      </div>
    </div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      1.01 Entry into a Material Definitive Agreement</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Tara
      Poseley Employment Agreement</u></strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As
      previously announced, Tara Poseley will be joining the company as President,
      Disney Store North America. Ms. Poseley will report directly to Ezra Dabah,
      our
      Chairman and Chief Executive Officer. On July 28, 2006 we entered into an
      employment agreement with her that provides that effective as of September
      18,
      2006 she will serve as our President, Disney Store North America until such
      time
      as her employment is terminated in accordance with the termination provisions
      thereof. Ms.&#160;Poseley&#8217;s salary for the initial year is $625,000, subject to
      annual review by our compensation committee. Ms.&#160;Poseley is entitled to
      receive an annual bonus, pursuant to the Annual Management Incentive Bonus
      Plan,
      in an amount equal to the product of (a)&#160;Ms.&#160;Poseley&#8217;s annual base
      salary, times (b)&#160;a percentage equal to or greater than 50% as determined
      by the compensation committee in their discretion, times (c)&#160;a bonus
      percentage determined in accordance with the Annual Management Incentive Bonus
      Plan. Subject to the terms of the Annual Management Incentive Bonus Plan, the
      minimum bonus that Ms. Poseley will receive for (x) the remainder of fiscal
      2006
      is $156,250 and (y) fiscal 2007 is $312,500. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ms.
      Poseley&#8217;s employment agreement provides that we shall (a) pay her $10,000 for
      relocation incidentals, (b) provide her and her family with housing in the
      Los
      Angeles, California area from September 18, 2006 through December 31, 2006,
      and
      (c) pay the cost of roundtrip airfare for either Ms. Poseley or her family
      to
      travel to Los Angeles each week from September 18, 2006 through December 31,
      2006. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ms.&#160;Poseley&#8217;s
      employment agreement provides that if Ms.&#160;Poseley&#8217;s employment is
      terminated by us without cause, or by Ms.&#160;Poseley for good reason or
      following a change in control (as each such term is defined in the agreement),
      we will be required to pay Ms.&#160;Poseley her base salary then in effect for
      one year following such termination, which amount will be payable in bi-weekly
      installments following her termination. If Ms.&#160;Poseley&#8217;s employment is
      terminated due to a change of control, all of her outstanding unvested stock
      options and restricted shares, if any, excluding any equity-based compensation
      granted to Ms. Poseley pursuant to any long term compensation program which
      shall be governed by the terms of such program, will immediately
      vest.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      addition, upon joining the Company, Ms. </font><a name="up"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Poseley
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">will
      be
      eligible to participate in our </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Long-Term
      Compensation Program</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
      and will
      be granted a </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">performance
      award under our 2005 Equity Incentive Plan entitling </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ms.
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Poseley
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">to
      receive a target amount of up to 40,000 shares of our common stock, subject
      to
      the terms and conditions of a performance award agreement between </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ms.
      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Poseley
      and us </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and
      such
      agreement will have </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">substantially
      similar terms and conditions as those performance awards that were granted
      to
      our Chief Executive Officer and certain other members of senior management
      on
      Janury 30, 2006, as described in the Form 8-K filed by the Company with the
      Commission on February 2, 2006. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
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      </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Ms.
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      stock.</font></a></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
      on July 27, 2006 we reorganized our senior management reporting structure and
      now Mark Rose, our </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Senior
      Vice President, Chief Supply Officer, will now report directly to Ezra Dabah,
      our Chairman and Chief Executive Officer. As a result, Mr. Rose is now
      considered an executive officer of the company.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Mr.
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      base salary continues to be $400,000 and based on the company's performance
      to
      profit goals his targeted bonus under the Annual Management Incentive Bonus
      Plan
      continues to be 40% of his base salary. As part of our Long-Term Compensation
      Program, on January&#160;30, 2006, we granted Mr.&#160;Rose a performance award
      under our 2005 Equity Incentive Plan entitling Mr.&#160;Rose to receive a target
      amount of up to 36,180 shares of our common stock, subject to the terms and
      conditions of a performance award agreement between Mr.&#160;Rose and us and
      such agreement has </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">substantially
      similar terms and conditions as those performance awards that were granted
      to
      our Chief Executive Officer and certain other members of senior management
      on
      Janury 30, 2006, as described in the Form 8-K filed by the Company with the
      Commission on February 2, 2006. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      the
      performance targets under the performance award agreement are met or exceeded,
      Mr.&#160;Rose may be entitled to receive a maximum amount of up to 72,360 shares
      of our common stock.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Richard
      Flaks </u></strong></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>Compensation
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Effective
      on July 27, 2006 we reorganized our senior management reporting structure and
      now Richard Flaks, our </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Senior
      Vice President, Planning Allocation and Information Technology, will now report
      directly to Ezra Dabah, our Chairman and Chief Executive Officer. As a result,
      Mr. Flaks is now considered an executive officer of the company.</font></div>
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      base salary continues to be $450,000 and based on the company's performance
      to
      profit goals his targeted bonus under the Annual Management Incentive Bonus
      Plan
      continues to be 40% of his base salary. As part of our Long-Term Compensation
      Program, on January&#160;30, 2006, we granted Mr.&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Flaks</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">
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</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">performance
      award under our 2005 Equity Incentive Plan entitling Mr.&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Flaks</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">to
      receive a target amount of up to 36,180 shares of our common stock, subject
      to
      the terms and conditions of a performance award agreement between
      Mr.&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Flaks</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">and
      us
      and such agreement has </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">substantially
      similar terms and conditions as those performance awards that were granted
      to
      our Chief Executive Officer and certain other members of senior management
      on
      Janury 30, 2006, as described in the Form 8-K filed by the Company with the
      Commission on February 2, 2006. </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">If
      the
      performance targets under the performance award agreement are met or exceeded,
      Mr.&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Flaks</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">may
      be
      entitled to receive a maximum amount of up to 72,360 shares of our common
      stock.</font></div>
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      Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
      the Registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized. </font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">THE
                CHILDREN'S PLACE RETAIL STORES, INC. </font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:
                &#160;&#160;&#160;&#160; </font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;&#160;&#160;&#160;<u>/s/
                Steven
                Balasiano&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
                </u></font></div>
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      August 2, 2006</font></a></div>
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Unassociated Document
UNITED
      STATES
SECURITIES
      AND EXCHANGE COMMISSION
Washington,
      D.C. 20549
FORM
      8-K
CURRENT
      REPORT
PURSUANT
      TO SECTION 13 OR 15 (d)
OF
      THE SECURITIES EXCHANGE ACT OF 1934
Date
                of Report (date of earliest event reported)
July
                27, 2006
THE
      CHILDREN'S PLACE RETAIL STORES, INC.
(Exact
                name of registrant as specified in its charter)
DELAWARE
(State
                or other jurisdiction
of
                incorporation)
0-23071
(Commission
File
                Number)
31-1241495
(IRS
                Employer ID
Number)
915
                Secaucus Road, Secaucus, New Jersey
07094
(Address
                of principal executive offices)
(Zip
                Code)
Registrant's
                Telephone Number, including area code:
(201)
                558-2400
Not
                Applicable
(Former
                name or former address, if changed since last report)
Check
      the
      appropriate box below if the Form 8-K filing is intended to simultaneously
      satisfy the filing obligation of the registrant under any of the following
      provisions:
[     ]
Written
                communications pursuant to Rule 425 under the Securities Act (17
                CFR
                230.425)
[     ]
Soliciting
                material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
                240.14a-12)
[     ]
Pre-commencement
                communications pursuant to Rule 14d-2(b) under the Exchange Act (17
                CFR
                240.14d-2(b))
[     ]
Pre-commencement
                communications pursuant to Rule 13e-4(c) under the Exchange Act (17
                CFR
                240.13e-4(c))
Item
      1.01 Entry into a Material Definitive Agreement
Tara
      Poseley Employment Agreement
As
      previously announced, Tara Poseley will be joining the company as President,
      Disney Store North America. Ms. Poseley will report directly to Ezra Dabah,
      our
      Chairman and Chief Executive Officer. On July 28, 2006 we entered into an
      employment agreement with her that provides that effective as of September
      18,
      2006 she will serve as our President, Disney Store North America until such
      time
      as her employment is terminated in accordance with the termination provisions
      thereof. Ms. Poseley's salary for the initial year is $625,000, subject to
      annual review by our compensation committee. Ms. Poseley is entitled to
      receive an annual bonus, pursuant to the Annual Management Incentive Bonus
      Plan,
      in an amount equal to the product of (a) Ms. Poseley's annual base
      salary, times (b) a percentage equal to or greater than 50% as determined
      by the compensation committee in their discretion, times (c) a bonus
      percentage determined in accordance with the Annual Management Incentive Bonus
      Plan. Subject to the terms of the Annual Management Incentive Bonus Plan, the
      minimum bonus that Ms. Poseley will receive for (x) the remainder of fiscal
      2006
      is $156,250 and (y) fiscal 2007 is $312,500.
Ms.
      Poseley's employment agreement provides that we shall (a) pay her $10,000 for
      relocation incidentals, (b) provide her and her family with housing in the
      Los
      Angeles, California area from September 18, 2006 through December 31, 2006,
      and
      (c) pay the cost of roundtrip airfare for either Ms. Poseley or her family
      to
      travel to Los Angeles each week from September 18, 2006 through December 31,
      2006.
Ms. Poseley's
      employment agreement provides that if Ms. Poseley's employment is
      terminated by us without cause, or by Ms. Poseley for good reason or
      following a change in control (as each such term is defined in the agreement),
      we will be required to pay Ms. Poseley her base salary then in effect for
      one year following such termination, which amount will be payable in bi-weekly
      installments following her termination. If Ms. Poseley's employment is
      terminated due to a change of control, all of her outstanding unvested stock
      options and restricted shares, if any, excluding any equity-based compensation
      granted to Ms. Poseley pursuant to any long term compensation program which
      shall be governed by the terms of such program, will immediately
      vest.
In
      addition, upon joining the Company, Ms.
Poseley
will
      be
      eligible to participate in our
Long-Term
      Compensation Program
and will
      be granted a
performance
      award under our 2005 Equity Incentive Plan entitling
Ms.
Poseley
to
      receive a target amount of up to 40,000 shares of our common stock, subject
      to
      the terms and conditions of a performance award agreement between
Ms.
Poseley
      and us
and
      such
      agreement will have
substantially
      similar terms and conditions as those performance awards that were granted
      to
      our Chief Executive Officer and certain other members of senior management
      on
      Janury 30, 2006, as described in the Form 8-K filed by the Company with the
      Commission on February 2, 2006.
If
      the
      performance targets under the performance award agreement are met or exceeded,
Ms.
Poseley
may
      be
      entitled to receive a maximum amount of up to 80,000 shares of our common
      stock.
Mark
      Rose Compensation Arrangements
Effective
      on July 27, 2006 we reorganized our senior management reporting structure and
      now Mark Rose, our
Senior
      Vice President, Chief Supply Officer, will now report directly to Ezra Dabah,
      our Chairman and Chief Executive Officer. As a result, Mr. Rose is now
      considered an executive officer of the company.
Mr.
      Rose's
annual
      base salary continues to be $400,000 and based on the company's performance
      to
      profit goals his targeted bonus under the Annual Management Incentive Bonus
      Plan
      continues to be 40% of his base salary. As part of our Long-Term Compensation
      Program, on January 30, 2006, we granted Mr. Rose a performance award
      under our 2005 Equity Incentive Plan entitling Mr. Rose to receive a target
      amount of up to 36,180 shares of our common stock, subject to the terms and
      conditions of a performance award agreement between Mr. Rose and us and
      such agreement has
substantially
      similar terms and conditions as those performance awards that were granted
      to
      our Chief Executive Officer and certain other members of senior management
      on
      Janury 30, 2006, as described in the Form 8-K filed by the Company with the
      Commission on February 2, 2006.
If
      the
      performance targets under the performance award agreement are met or exceeded,
      Mr. Rose may be entitled to receive a maximum amount of up to 72,360 shares
      of our common stock.
Richard
      Flaks
Compensation
      Arrangements
Effective
      on July 27, 2006 we reorganized our senior management reporting structure and
      now Richard Flaks, our
Senior
      Vice President, Planning Allocation and Information Technology, will now report
      directly to Ezra Dabah, our Chairman and Chief Executive Officer. As a result,
      Mr. Flaks is now considered an executive officer of the company.
Mr.
Flaks'
annual
      base salary continues to be $450,000 and based on the company's performance
      to
      profit goals his targeted bonus under the Annual Management Incentive Bonus
      Plan
      continues to be 40% of his base salary. As part of our Long-Term Compensation
      Program, on January 30, 2006, we granted Mr.
Flaks
a
performance
      award under our 2005 Equity Incentive Plan entitling Mr.
Flaks
to
      receive a target amount of up to 36,180 shares of our common stock, subject
      to
      the terms and conditions of a performance award agreement between
      Mr.
Flaks
and
      us
      and such agreement has
substantially
      similar terms and conditions as those performance awards that were granted
      to
      our Chief Executive Officer and certain other members of senior management
      on
      Janury 30, 2006, as described in the Form 8-K filed by the Company with the
      Commission on February 2, 2006.
If
      the
      performance targets under the performance award agreement are met or exceeded,
      Mr.
Flaks
may
      be
      entitled to receive a maximum amount of up to 72,360 shares of our common
      stock.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended,
      the Registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.
THE
                CHILDREN'S PLACE RETAIL STORES, INC.
By:
/s/
                Steven
                Balasiano
Name:
Steven
                Balasiano, Senior Vice President,
Chief
                Administrative Officer, General Counsel and Secretary
Dated:
      August 2, 2006