SECAUCUS, N.J., April 27, 2026 (GLOBE NEWSWIRE) -- The Children’s Place, Inc. (Nasdaq: PLCE), one of the only pure-play children’s specialty retailers in North America with an omni-channel presence, is pleased to announce that it has signed a new strategic partnership agreement with Al Othaim Life Company, marking an exciting milestone in the brand’s return to the Kingdom of Saudi Arabia.
This partnership represents a significant step forward in The Children’s Place’s international growth strategy and reaffirms its commitment to the Saudi Arabia market. Through this collaboration, Al Othaim will serve as The Children’s Place’s official operating partner in the Kingdom of Saudi Arabia, supporting the brand’s expansion and long-term presence in the region.
Muhammad Umair, President and Chief Executive Officer said, “We are thrilled to partner with Al Othaim as we re-enter the Kingdom of Saudi Arabia. This agreement reflects our confidence in the market and our excitement about reconnecting with customers throughout the country. Al Othaim’s deep local expertise and strong retail presence make them an ideal partner for this next chapter.”
Eli Aoun, Chief Executive Officer of Al Othaim said, “We are proud to partner with The Children’s Place to build something truly special in Saudi Arabia—bringing a globally recognized children’s brand closer to Saudi families and delivering an exceptional, accessible, and inspiring retail experience. The Children’s Place holds strong relevance in the Saudi market, with significant potential to serve the evolving needs of our customers across all regions and cities in the Kingdom.”
Initial store openings in the Kingdom of Saudi Arabia are scheduled for this year, marking the first phase of the brand’s renewed presence in the region. These locations will lay the foundation for a broader rollout across the country. The Company looks forward to opening its flagship location in Riyadh later this year.
About The Children’s Place
The Children’s Place is one of the only pure-play children’s specialty retailers in North America with an omni-channel presence. Its global retail and wholesale network includes two digital storefronts, 498 stores in North America, wholesale marketplaces and distribution in 12 countries through nine international franchise and wholesale partners. The Children’s Place designs, contracts to manufacture, and sells fashionable, high-quality, head-to-toe outfits predominantly at value prices, primarily under its proprietary brands: “The Children’s Place” and “Gymboree”. For more information, visit: www.childrensplace.com and www.gymboree.com.
About Abdullah Al Othaim Fashion Company
Founded in 1998, Al Othaim Life is a leading fashion retailer in Saudi Arabia and a subsidiary of Al Othaim Investment Company, under the leadership of Chairman Abdullah Bin Salah Al Othaim. From a modest start with two brands and 16 stores, the company has grown into a diversified retail platform operating 27 brands across more than 370 stores nationwide. Al Othaim Life serves a broad customer base across genders and income segments, while actively contributing to the Saudi economy through job creation and youth development. The company has also achieved strong progress in digital transformation, operating on over 13 online platforms to enhance its omnichannel presence. Looking ahead, Al Othaim Life is focused on delivering sustainable double-digit growth, aligned with the goals of Saudi Vision 2030.
Forward-Looking Statements
This press release contains or may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements relating to the Company’s strategic initiatives and results of operations. Forward-looking statements typically are identified by use of terms such as “may,” “will,” “should,” “plan,” “project,” “expect,” “anticipate,” “estimate,” “believe” and similar words, although some forward-looking statements are expressed differently.
These forward-looking statements are based upon the Company’s current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results and performance to differ materially.
Some of these risks and uncertainties are described in the Company’s filings with the Securities and Exchange Commission, including in the “Part I, Item1A. Risk Factors” section of its annual report on Form 10-K for the fiscal year ended January 31, 2026.
Included among the risks and uncertainties that could cause actual results and performance to differ materially are the risk that the Company will be unable to achieve operating results at levels sufficient to fund and/or finance the Company’s current level of operations and repayment of indebtedness, the risk that changes in trade policy and tariff regimes, including newly imposed U.S. tariffs and any responsive non-U.S. tariffs, may impact the Company’s international manufacturing and operations or customers’ discretionary spending habits, the risk that the Company will be unsuccessful in gauging fashion trends and changing consumer preferences, the risks resulting from the highly competitive nature of the Company’s business and its dependence on consumer spending patterns, which may be affected by changes in economic conditions (including inflation), the risk that changes in the Company’s plans and strategies with respect to pricing, capital allocation, capital structure, investor communications and/or operations may have a negative effect on the Company’s business, the risk that the Company’s strategic initiatives to increase sales and margin, improve operational efficiencies, enhance operating controls, decentralize operational authority and reshape the Company’s culture are delayed or do not result in anticipated improvements, the risk of delays, interruptions, disruptions and higher costs in the Company’s global supply chain, including resulting from disease outbreaks, foreign sources of supply in less developed countries, more politically unstable countries, or countries where vendors fail to comply with industry standards or ethical business practices, including the use of forced, indentured or child labor, the risk that the cost of raw materials or energy prices will increase beyond current expectations or that the Company is unable to offset cost increases through value engineering or price increases, various types of litigation, including class action litigation brought under securities, consumer protection, employment, and privacy and information security laws and regulations, risks related to the existence of a controlling stockholder, and the uncertainty of weather patterns, as well as other risks discussed in the Company’s filings with the SEC from time to time.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contact: Investor Relations (201) 558-2400 ext. 14500