PEMBROKE PINES, Fla., June 2 /PRNewswire-FirstCall/ -- Claire's Stores,
Inc. (NYSE: CLE) today reported that for the four weeks ended May 28, 2005
comparable store sales rose three percent. Last May, comparable store sales
rose ten percent and two years earlier they rose seven percent, giving rise to
a very healthy increase over the three-year period. Total sales during the
four-week period ended May 28, 2005 increased six percent to $94,593,000
compared with $89,239,000 for the comparable four-week period last year.
Comparable store sales results for May 2005 compared to May 2004 were as
follows:
* Claire's North America: positive low single digits
* Claire's International: positive high single digits
* Icing by Claire's: positive low single digits
Bonnie Schaefer, Co-Chairman and Co-CEO stated that, "The strong
performance of our international division continued throughout the month of
May. The hierarchy of that performance is consistent with past months. Our
stores in Switzerland, Austria and Germany, collectively turned in the best
performance, with the United Kingdom close behind. Our comparable stores
sales performance in France remains below the levels we are aiming for and we
are continuing to analyze that business to identify areas where new
initiatives can be tested and evaluated."
Marla Schaefer, Co-Chairman and Co-CEO of Claire's Stores noted that,
"During May, we continued to build our jewelry presentation, emphasizing those
items which tested well in the early spring season. As we move closer to
summer, we are increasing our floor presentation with jewelry looks that are
trending most successfully."
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%
March $119,692 $105,782 13% 10%
April $94,962 $93,580 1% (2%)
May $94,593 $89,239 6% 3%
Year-to-Date $397,386 $370,830 7% 5%
We are reiterating our earlier projection for comparable store sales for
the second fiscal quarter to grow by two to four percent.
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 28, 2005, Claire's Stores, Inc. operated
approximately 2,850 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., 162 stores in Japan as a 50:50 joint venture with AEON,
Co., Ltd. (fka JUSCO, Co. Ltd.), a $32 billion specialty retailer
headquartered in Japan. The Company also licenses 68 stores in the Middle
East and Turkey under a licensing and merchandising agreement with Al Shaya
Co., Ltd. and six 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, political and 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 29, 2005. 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 for Claire's
Stores, Inc., +1-212-594-3127, Fax: +1-212-244-4237 or
marisa.jacobs@claires.com
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