WRAPUP 1-Children's Place sales tops mkt; Gymboree falls short

* Children's Place Q3 net sales beat est, Gymboree misses

* Children's Place Oct comps beat est

* Gymboree raises Q3 EPS view

* Children's Place shares up 8 pct, Gymboree down 7 pct

BANGALORE, Nov 5 (Reuters) - Third quarter net sales at Children's Place Retail Stores Inc (PLCE.O) topped estimates at Wall Street as the retailer gained favor with thrifty shoppers, even as more expensive rival Gymboree Corp (GYMB.O) saw third-quarter sales miss the mark.

Kids apparel has been a weak link for many retailers this month, with Dillard's Inc (DDS.N), Kohl's Corp (KSS.N) and Target Corp (TGT.N) naming the segment among their worst performing categories.

Children's Place shares were up 8 percent in morning trade on Nasdaq, while Gymboree shares were down 7 percent.

"I think the sell off on Gymboree is a bit overdone," Linda Tsai, analyst with MKM Partners, said.

Tsai said Gymboree had earlier spoken about being late stocking inventory in the third quarter, but "it is a good sign because I think it means they have confidence in their planning (for future months)."

The company also posted a bigger decline in third-quarter same-store sales than what the market expected, but raised its third-quarter profit view for the second time in two months. [ID:nBNG480578]

While, Gymboree said its more expensive Janie and Jack division was seeing some sales uptick, it continues to be the brand under the most pressure from the general downturn in the economy.

Children's Place, which topped comparable store estimates for October, was helped in part by its active online presence, and the company said that during the quarter as well as in October, online sales offset weakness in the company's U.S. and Canadian stores. [ID:nBNG353452]

Retailers across the board are increasingly focusing on online sales, as more and more customers surf the web to make purchases, especially during the holiday season.

Shares of the Secaucus, New Jersey-based Children's Place were trading up 8 percent at $35.02 in morning trade on Nasdaq, while those of Gymboree were down 6 percent at $40.6.

For a wrap on Oct retail sales click on [ID:nN04548927] (Reporting by Nivedita Bhattacharjee, Vidya Lakshmi in Bangalore; Editing by Anthony Kurian)