PEMBROKE PINES, Fla., May 10 /PRNewswire-FirstCall/ -- Claire's Stores,
Inc. (NYSE: CLE) today reported that sales for the first fiscal quarter
ended May 5, 2007 increased nine percent to $340,549,000 compared to sales
of $311,856,000 during last year's first fiscal quarter. Comparable store
sales for this year's first fiscal quarter increased one percent, after
achieving a three percent increase during last year's first fiscal quarter.
For the four weeks ended May 5, 2007, comparable store sales decreased
six percent compared to the four week period last year that ended on April
29, 2006 when comparable store sales increased by nine percent. Total sales
during the four week period ended May 5, 2007 increased one percent to
$105,051,000 compared with $104,251,000 for the comparable four week period
last year.
Comparable store sales results for April 2007 compared to April 2006
were as follows:
* Claire's North America: negative mid single digits
* Claire's International: negative mid single digits
* Icing by Claire's: negative mid 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, "Easter and certain European spring holidays periodically move
between March and April, and sometimes into May. Because of these moves, we
typically experience shifts in our comparable store sales results in those
months. The pattern held true this year, contributing in part to the
negative comparable store sales results for April. As we stated last month,
we recommend that March and April results be viewed on a consolidated
basis."
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%
March $136,600 $116,666 17% 8%
$105,051 $104,251 1% -6%
April
Year-to-Date $340,549 $311,856 9% 1%
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; uncertainty that definitive
financial results may differ from preliminary financial results due to,
among other things, final GAAP adjustments and other changes to comply with
applicable laws, rules and regulations; the reactions of the Company's
customers and suppliers to the transaction; and diversion of management
time on merger-related issues. 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. 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.
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 May 5, 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, Belgium and the
Netherlands. Claire's Stores, Inc. operates through its subsidiary,
Claire's Nippon, Co., Ltd., approximately 205 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 135 stores in the Middle East, Turkey and Russia 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.
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.claires.com
http://www.clairestores.com
http://www.prnewswire.com/comp/174913.html/
CONTACT:
Marisa F. Jacobs, Esq., Claire's Stores, Inc.
Vice President of Corporate Communications and Investor
Relations, +1-212-594-3127, fax, +1-212-244-4237, or
marisa.jacobs@claires.com
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