PEMBROKE PINES, Fla., March 8 /PRNewswire-FirstCall/ -- Claire's
Stores, Inc. (NYSE: CLE) today reported that for the four weeks ended March
3, 2007 comparable store sales increased one percent compared to the four
week period last year that ended on February 25, 2006 when comparable store
sales rose by four percent. Total sales during the four week period ended
March 3, 2007 increased nine percent to $98,898,000 compared with
$90,939,000 for the comparable four week period last year.
Comparable store sales results for February 2007 compared to February
2006 were as follows:
* Claire's North America: positive low single digits
* Claire's International: negative low single digits
* Icing by Claire's: positive low single digits
Please note that our comparable store sales numbers are calculated in
local currencies. Total sales numbers give effect to the impact of foreign
exchange.
Bonnie Schaefer and Marla Schaefer, Co-Chairmen and Co-CEO's, jointly
stated that, "We are pleased that we have begun the new fiscal year with
positive comparable store sales. This was accomplished despite the
continued fluctuations in our European business as well as a number of
severe storms in North America, one in particular that severely hurt our
business on the days immediately preceding Valentine's Day, which is an
important event for us in February."
They went on to note that "Spring fashions are reflecting a more
vibrant color palette than last year which in turn is resulting in
increased demand from our customers for more color in their costume jewelry
and accessories to keep their looks up to the minute. We have responded
with merchandise that offers variety both in color and tone. While it's
early in the year, we expect that as the weather warms up, demand for these
new, bright looks will continue to increase."
CLAIRE'S STORES, INC.
(Monthly Sales in 000's)
REPORTING TOTAL COMP. STORE
PERIOD FY 2008 FY 2007 CHANGE CHANGE
February $98,898 $90,939 9% 1%
Year-to-Date $98,898 $90,939 9% 1%
Quarterly Dividend
The Board of Directors has declared the regular quarterly cash dividend
of $0.10 per share payable on the Common Stock and $0.05 per share payable
on the Class A Common Stock. Payment will be made on March 30, 2007 to
shareholders of record on March 20, 2007.
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 adult females 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 March 3, 2007, Claire's
Stores, Inc. operated approximately 3,000 stores in the United States,
Canada, Puerto Rico, the Virgin Islands, the United Kingdom, Ireland,
France, Switzerland, Austria, Germany, Spain, Portugal, Holland and
Belgium. Claire's Stores, Inc. operates through its subsidiary, Claire's
Nippon, Co., Ltd., approximately 195 stores in Japan as a 50:50 joint
venture with AEON, Co., Ltd. (fka JUSCO, Co. Ltd.), a $40 billion specialty
retailer headquartered in Japan. The Company also licenses approximately
120 stores in the Middle East and Turkey under a licensing and
merchandising agreement with Al Shaya Co., Ltd. and eight 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. Statements that are not historical are considered forward-looking
statements. 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 conditions
such as inflation and increased energy costs; general and political social
conditions such as war, political unrest and terrorism; natural disasters
or severe weather events; currency fluctuations and exchange rate
adjustments; changes in laws; uncertainties generally associated with the
specialty retailing business; disruptions in our supply of inventory;
inability to increase comparable store sales at recent historical rates;
inability to design and implement new information systems; delays in
anticipated store openings or renovations; 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 28, 2006. 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
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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