Children's Place posts higher quarterly profit

NEW YORK, May 22 (Reuters) - Children's Place Retail Stores Inc (PLCE.O: Quote, Profile, Research, Stock Buzz) reported higher quarterly profit on Thursday, helped by increased sales and the absence of a year-earlier loss from discontinued operations.

The children's clothing retailer said net income rose to $19.5 million, or 67 cents per share, in the first quarter ended on May 3 from $14.7 million, or 49 cents per share, a year earlier, when it posted a 15-cent-per-share loss from discontinued operations.

Children's Place is weighing a possible sale of the company under pressure from its biggest shareholder. (Reporting by Martinne Geller; Editing by Lisa Von Ahn)