UPDATE 1-Children's Place Dec. same-store sales up 2 pct

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NEW YORK, Jan 10 (Reuters) - Children's Place Retail Stores Inc (PLCE.O) said on Thursday its sales at stores open at least a year rose 2 percent in December, as strength at its namesake chain overshadowed a decline at the Disney Store brand.

Wall Street had expected a same-store sales gain of 2.9 percent, according to Reuters Estimates.

Sales at Children's Place stores open at least a year rose 6 percent, while sales at Disney Stores open at least a year fell 4 percent.

The children's clothing retailer said total sales for the five weeks ended Jan. 5 fell to $314.6 million from $318.5 million a year earlier.

Children's Place said it hired a retail consulting firm to help identify operational improvements. It is also in the process of assessing a wide variety of options, including a strategy for the Disney Store brand.

The company also said it will not hold its fiscal 2006 annual shareholders meeting by the Feb. 3 deadline required by Nasdaq listing rules because it filed its annual report late. It plans to request an extension, and hold the meeting some time in the spring of 2008. (Reporting by Martinne Geller; editing by John Wallace/Derek Caney)