EXHIBIT 23.2

                    THE CHILDREN'S PLACE RETAIL STORES, INC.

                 NOTICE REGARDING CONSENT OF ARTHUR ANDERSEN LLP

Section 11(a) of the Securities Act of 1933, as amended (the "Securities Act"),
provides that if part of a registration statement at the time it becomes
effective contains an untrue statement of a material fact, or omits a material
fact required to be stated therein or necessary to make the statements therein
not misleading, any person acquiring a security pursuant to such registration
statement (unless it is provided that at the time of such acquisition such
person knew of such untruth or omission) may assert a claim against, among
others, an accountant who has consented to be named as having certified any part
of the registration statement or as having prepared any report for use in
connection with the registration statement.

On July 15, 2002, the Board of Directors of The Children's Place Retail Stores,
Inc. (the "Company"), upon recommendation of its Audit Committee, decided to end
the engagement of Arthur Andersen LLP ("Arthur Andersen") as the Company's
independent public accountants, effective after Arthur Andersen's review of the
Company's financial results for the quarter ended May 4, 2002 and the filing of
the Company's Form 10-Q for such quarter, and authorized the engagement of
Deloitte & Touche LLP to serve as the Company's independent public accountants
for the fiscal year ending February 1, 2003. For additional information, see the
Company's Current Report on Form 8-K filed with the Securities and Exchange
Commission ("SEC") on July 15, 2002.

After reasonable efforts, the Company has been unable to obtain Arthur
Andersen's written consent to the incorporation by reference into the Company's
registration statement (Form S-8 No. 333-47065) of Arthur Andersen's audit
report with respect to the Company's consolidated financial statements as of
February 2, 2001 and for the two fiscal years in the period then ended. Under
these circumstances, Rule 437a under the Securities Act permits the Company to
file this Annual Report on Form 10-K, which is incorporated by reference into
the Registration Statements, without a written consent from Arthur Andersen. As
a result, with respect to transactions in the Company's securities pursuant to
the Registration Statement that occur subsequent to the date this Annual Report
on Form 10-K is filed with the Securities and Exchange Commission, Arthur
Andersen will not have any liability under Section 11(a) of the Securities Act
for any untrue statements of a material fact contained in the financial
statements audited by Arthur Andersen or any omissions of a material fact
required to be stated therein. Accordingly, you would be unable to assert a
claim against Arthur Andersen under Section 11(a) of the Securities Act.