PEMBROKE PINES, Fla., March 27 /PRNewswire/ -- Claire's Stores, Inc., a
leading specialty retailer offering value-priced jewelry and accessories,
has named John A. Zimmermann as President, North America reporting to Gene
Kahn, Claire's CEO.
John will lead the Claire's and Icing North American businesses. He has
direct responsibility for merchandising and operations of more than 2,100
stores in the United States, Canada, Puerto Rico and the Virgin Islands and
will participate as a key leader within the Corporate Senior Management
Team helping to establish future global direction. He spent the last six
years with the Zale Corporation, most recently as Corporate Group President
and President, Zale North America.
John Zimmermann is an important addition to our Company's management
team. He brings to Claire's an extensive retail background and proven track
record based on the skills he has developed over three decades of
successfully operating and growing businesses within the specialty retail
arena. He has strong merchandising experience that produced excellent
revenue performance with commensurate financial results.
"Claire's North America is our largest division and an important
segment of our business. We are very pleased to have John, with his
impressive credentials and capabilities, providing the leadership to take
our business forward," said Gene Kahn. "I am excited by this addition to
our team based on John's experience and achievements, which have
encompassed growing revenue, expanding gross margin and managing inventory
while always remaining focused on the customers' expectations. He will be a
valuable addition in strengthening our merchandising, planning and
allocation, store operations, and marketing efforts in North America."
"Claire's represents a significant opportunity and I am delighted to
join such an outstanding retail team," said John Zimmermann. "My
experiences are very relevant to Claire's goals, and I am confident that
together we will be able to build upon the Company's record of
accomplishment."
Starting as an executive trainee in 1981 with John Wanamaker, the
Philadelphia, PA-based department store, John went on to hold senior
merchandising and executive positions with retail chains that included
Federated Department Stores, The Children's Place and Bon Marche, Carter
Hawley Hale's The Broadway Stores and Contempo Casuals, as well as
Bradlees. At Zale, as a Corporate Senior Vice President and President of
Zale Canada Company, he led a successful turnaround of the company. In his
most recent Zale assignment as President, North America, a 990-store $1.4
billion jewelry retailer with units in the U.S., Canada and Puerto Rico, he
addressed challenging issues that embraced merchandising, sales, marketing
and operational improvement.
John succeeds Lisa LaFosse, who served Claire's for 17 plus years and
contributed greatly to the success the Company enjoyed. She joined Claire's
as a District Sales Manager and then held progressively more senior roles
ultimately assuming the position of President, North America. "Lisa is
leaving to spend more time with her family and to pursue other
opportunities. We offer our gratitude and appreciation for her many years
of service to Claire's," said Gene Kahn.
Company Overview
Claire's Stores, Inc. is a leading specialty retailer of value-priced
jewelry and accessories for girls and young women through its two store
concepts: Claire's and Icing. While the latter operates only in North
America, Claire's operates internationally. As of March 1, 2008, Claire's
Stores, Inc. operated 3,038 stores in the United States, Canada, Puerto
Rico, the Virgin Islands, the United Kingdom, Ireland, France, Switzerland,
Austria, Germany, Spain, Portugal, Belgium, and the Netherlands. Claire's
Stores, Inc. operates through its subsidiary, Claire's Nippon, Co., Ltd.,
199 stores in Japan as a 50:50 joint venture with AEON, Co., Ltd. The
Company also franchises 167 stores in the Middle East, Turkey, Russia,
Poland, South Africa and Guatemala.
Additional Information:
Note: Other Claire's Stores, Inc. press releases, a corporate profile
and the most recent Annual Report on Form 10-K and Form 10-Q Equivalent are
available on Claire's business website at: http://www.clairestores.com .
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; competition; general economic
conditions such as inflation and increased energy costs; general political
and social conditions such as war, political unrest and terrorism; natural
disasters or severe weather events; currency fluctuations and exchange rate
adjustments; uncertainties generally associated with the specialty
retailing business; disruptions in our supply of inventory; inability to
increase same store sales at historical rates; significant increases in our
merchandise markdowns; inability to design and implement new information
systems; delays in anticipated store openings or renovations; uncertainty
that definitive financial results may differ from preliminary financial
results due to, among other things, final GAAP adjustments; changes in
applicable laws, rules and regulations, including changes in federal, state
or local regulations governing the sale of our products, particularly
regulations relating to the metal content in jewelry, and employment laws
relating to overtime pay, tax laws and import laws; loss of key members of
management; increases in the cost of labor; labor disputes; increases in
the cost of borrowings; unavailability of additional debt or equity
capital; and the impact of our substantial indebtedness on our operating
income and our ability to grow. 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 February 3, 2007 and Form
10-Q Equivalent for the quarterly period ended May 5, 2007. The Company
undertakes no obligation to update or revise any forward-looking statements
to reflect subsequent events or circumstances.
Contact Information
Marisa Jacobs, Vice President of Corporate Communications & Investor
Relations. Phone: (212) 594-3127, Fax: (212) 244-4237 or E-mail,
marisa.jacobs@claires.com
SOURCE Claire's Stores, Inc.
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Related links:
http://www.clairestores.com
http://www.prnewswire.com/comp/174913.html /
CONTACT:
Marisa Jacobs, Vice President of Corporate
Communications & Investor Relations of Claire's Stores, Inc.,
+1-212-594-3127, Fax: +1-212-244-4237, marisa.jacobs@claires.com
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