PEMBROKE PINES, Fla., March 3 /PRNewswire-FirstCall/ -- Claire's Stores,
Inc. (NYSE: CLE) today reported that for the four weeks ended February 26,
2005 comparable store sales increased six percent after increasing 15 percent
during the corresponding four-week period last year. Total sales during the
four-week period ended February 26, 2005 increased seven percent to
$88,139,000 compared with $82,229,000 for the comparable four-week period last
year.
Comparable store sales results for February 2005 compared to February 2004
were as follows:
* Claire's North America: positive mid single digits
* Claire's International: positive mid single digits
* Icing by Claire's: positive mid single digits
Bonnie Schaefer, Co-Chairman and Co-CEO stated that, "Our international
business performed well in February, although our results varied significantly
in different regions. The United Kingdom continued to deliver very strong
results, with our work there producing a dramatic turnaround more quickly than
we anticipated a year ago. Our stores in Switzerland, Austria and Germany are
continuing last year's trend by generating robust sales. The performance of
our stores in France was not as strong as we had hoped. The process of
exporting our North American best practices to that country remains a primary
focal point of our efforts in Europe. We remain confident that France will
follow in the path of our other international stores and begin to deliver
sustained improvements."
Marla Schaefer, Co-Chairman and Co-CEO of Claire's Stores noted that,
"Last year in North America both Claire's and Icing by Claire's generated
comparable store sales increases in excess of 20%. This was a truly daunting
number to go up against, and we are pleased that despite that, our comparable
store sales increased in the mid single digits this month. Our decision to
mark down merchandise in January left our stores looking clean and fresh and
customers are reacting positively to our spring merchandise."
CLAIRE'S STORES, INC.
(Monthly Sales in 000's)
TOTAL COMP. STORE
REPORTING PERIOD FY 2006 FY 2005 CHANGE CHANGE
February $ 88,139 $ 82,229 7% 6%
Year-to-Date $ 88,139 $ 82,229 7 % 6%
Quarterly Dividend
The Board of Directors has increased the regular quarterly cash dividend
payable on the Common Stock to $0.10 per share from $0.09 per share and on the
Class A Common Stock to $0.05 per share from $0.045 per share, respectively.
Payment will be made on March 24, 2005 to shareholders of record on March 14,
2005.
Company Overview
Claire's Stores, Inc., is a leading international specialty retailer
offering value-priced costume jewelry and accessories to fashion-aware tweens,
teens and young adults through its two store concepts: Claire's and Icing by
Claire's. While the latter operates only in North America, Claire's operates
internationally. As of February 26, 2005, Claire's Stores, Inc. operated
approximately 2,840 stores in the United States, Canada, Puerto Rico, the
Virgin Islands, the United Kingdom, Ireland, France, Switzerland, Austria and
Germany. Claire's Stores, Inc. operates through its subsidiary, Claire's
Nippon, Co., Ltd., 150 stores in Japan as a 50:50 joint venture with AEON,
Co., Ltd. (fka JUSCO, Co. Ltd.), a $25 billion specialty retailer
headquartered in Japan. The Company also licenses 57 stores in the Middle
East and Turkey under a licensing and merchandising agreement with Al Shaya
Co., Ltd. and four stores in South Africa under similar agreements with The
House of Busby Limited.
Forward-looking Statements
This press release contains "forward-looking statements" which represent
the Company's expectations or beliefs with respect to future events. These
forward-looking statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those anticipated. Those
factors include, without limitation: changes in consumer preferences and
consumer spending for pre-teen, teen and young adult apparel and accessories;
competition; general economic, political and social conditions such as war,
political unrest and terrorism; natural disasters; currency fluctuations and
exchange rate adjustments; changes in laws; uncertainties generally associated
with the specialty retailing business; disruptions in our supply of inventory;
and uncertainty that definitive financial results may differ from preliminary
financial results due to, among other things, final GAAP adjustments. These
and other applicable risks, cautionary statements and factors that could cause
actual results to differ from the Company's forward-looking statements are
included in the Company's filings with the SEC, specifically as described in
the Company's annual report on Form 10-K for the Fiscal year ended January 31,
2004. The Company undertakes no obligation to update or revise any forward-
looking statements to reflect subsequent events or circumstances. The
historical results contained in this press release are not necessarily
indicative of the future performance of the Company.
Additional Information:
Note: Other Claire's Stores, Inc. press releases, a corporate profile and
most recent 10-K and 10-Q reports are available via Claire's corporate
website: http://www.clairestores.com. For information about our products and
stores, please go to http://www.claires.com.
SOURCE Claire's Stores, Inc.
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Related links:
http://www.clairestores.com
http://www.claires.com
Company News On-Call:
http://www.prnewswire.com/comp/174913.html
CONTACT:
Marisa F. Jacobs, Esq., Vice President of
Corporate Communications and Investor Relations of Claire's
Stores, Inc., +1-212-594-3127, Fax: +1-212-244-4237,
marisa.jacobs@claires.com
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