TDS FRANCHISING, LLC 500 SOUTH BUENA VISTA STREET BURBANK, CALIFORNIA 91521 August 17, 2005

EXHIBIT 10.4

TDS FRANCHISING, LLC

500 SOUTH BUENA VISTA STREET

BURBANK, CALIFORNIA 91521

August 17, 2005

Hoop Retail Stores, LLC

Hoop Canada, Inc.

c/o The Children’s Place Retail Stores, Inc.

915 Secaucus Road

Secaucus, New Jersey 07094

Facsimile: (201) 558-2837

Attention: Chief Financial Officer

Re: New Internet Start Date

Ladies and Gentlemen:

We refer to the License and Conduct of Business Agreement dated as of November 21, 2004 (the “License Agreement”), by and amongst TDS Franchising, LLC (“TDSF”), Hoop Retail Stores, LLC, as successor to The Disney Store, LLC (“Hoop USA”), and Hoop Canada, Inc., as successor to The Disney Store (Canada) Ltd. (“Hoop Canada”). Capitalized terms used herein without definition shall have the respective meanings assigned thereto in the License Agreement.

We hereby agree that, as used in the License Agreement, the Internet Start Date shall be changed from October 1, 2005 to a date that is mutually agreed upon in writing by each of TDSF, Hoop USA and Hoop Canada in its respective business judgment, but in any event, not later than June 15, 2006, provided that, for purposes of Section 7.1.1(II) of the License Agreement, the Internet Start Date shall remain October 1, 2005.

If you agree with the foregoing, please so indicate by executing this letter in the place provided below and returning a fully executed original of this letter to the undersigned, whereupon this letter will be deemed a binding amendment to the License Agreement. Except as specifically provided herein with respect to the Internet Start Date, all other terms and conditions of the License Agreement shall not be modified, changed or amended in any manner whatsoever and shall remain in full force and effect.

[Signature Page to Letter Regarding Internet Start Date]

ACCEPTED AND AGREED TO AS OF THE DATE FIRST SET FORTH ABOVE:

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