PEMBROKE PINES, Fla., June 1 /PRNewswire-FirstCall/ -- Claire's Stores,
Inc. (NYSE: CLE) today reported that for the four weeks ended May 27, 2006
comparable store sales increased four percent after increasing three
percent during the corresponding four-week period last year. Total sales
during the four-week period ended May 27, 2006 increased eight percent to
$102,562,000 compared with $94,593,000 for the comparable four-week period
last year.
Comparable store sales results for May 2006 compared to May 2005 were
as follows:
-- Claire's North America: positive mid single digits
-- Claire's International: positive low single digits
-- Icing by Claire's: positive high 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, with the U.S. dollar being relatively flat in May 2006 compared
to May 2005.
Bonnie Schaefer, Co-Chairman and Co-CEO of Claire's Stores stated that,
"Our International comparable store sales remained in positive territory,
delivering growth in the low single digits. Direct comparisons to last May
are made somewhat difficult however due to shifts in six European holidays,
one of which fell on a weekday this year versus Sunday last year when we
are normally closed, and one of which will shift to June this year. Our
plans for building our International jewelry inventories are progressing
well and customers are responding favorably to the increased offerings in
this area."
Marla Schaefer, Co-Chairman and Co-CEO of Claire's Stores noted that,
"Claire's and Icing by Claire's each performed at or above plan during the
month of May, with Icing by Claire's delivering the stronger comparable store
sales increases. We were particularly pleased with the comparable store sales
gains registered at both Claire's and Icing by Claire's during the week
preceding Mother's Day compared to the period immediately prior to Mother's
Day last year."
CLAIRE'S STORES, INC.
(Monthly Sales in 000's)
TOTAL COMP. STORE
REPORTING PERIOD FY 2007 FY 2006 CHANGE CHANGE
February $90,939 $88,139 3% 4%
March $116,666 $119,692 -3% -3%
April $104,251 $94,877 10% 9%
May $102,562 $94,593 8% 4%
Year-to-Date $414,418 $397,301 4% 3%
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 May 27, 2006, Claire's Stores,
Inc. operated approximately 2,900 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., 181 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 96 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, +1-212-594-3127,
Fax +1-212-244-4237, marisa.jacobs@claires.com
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