UPDATE 1-Disney in talks to buy part of Disney Store chain

NEW YORK, March 20 (Reuters) -Walt Disney Co. (DIS.N) on Thursday confirmed it is in advanced discussions with Children's Place Retail Stores Inc (PLCE.O) about potentially buying a portion of the Disney Store chain in North America.

Children's Place, which on Thursday posted a net loss, said in its earnings release that it is exiting the Disney Store North America Chain. (Reporting by Kristina Cooke; Editing by Derek Caney)