PEMBROKE PINES, Fla., June 3 /PRNewswire-FirstCall/ -- Claire's Stores,
Inc. (NYSE: CLE) reported today that comparable store sales for the four weeks
ended May 29, 2004 increased 10 percent after achieving a seven percent
increase in comparable store sales during the corresponding four-week period
last year. Total sales during the four-week period ended May 29, 2004
increased 14 percent to $89,239,000 compared with $78,258,000 for the
comparable four-week period last year.
Comparable store sales results for May 2004 compared to May 2003 were as
follows:
* Claire's North America: positive low teens
* Claire's International: positive low single digits
* Icing by Claire's: positive high teens
Bonnie Schaefer, Co-Chairman and Co-CEO of Claire's Stores, Inc. said,
"During May we began to see real improvement in Europe. Switzerland, Austria
and Germany, where we first began to implement a broad array of U.S. best
practices, continued to turn in strong results. The U.K. and Ireland was the
second region of intensified management focus, and we are beginning to see
increased sales momentum there. In France, where our stores have been facing
the greatest challenge, we are implementing strategies that worked
successfully in Switzerland, Austria and Germany and which we expect to
benefit France as well. We know that we still have a great deal of work to do
in terms of implementing best practices across six countries and over 700
stores, but feel strongly that we are moving in the right direction."
Marla Schaefer, Co-Chairman and Co-CEO of Claire's Stores, Inc. said, "Our
North American business continued to grow at a rapid pace, with comparable
store sales increasing in the double digit ranges at both Claire's and Icing
by Claire's. Traffic in our stores is robust and while jewelry continues to
be an important component of our business, customers are also showing
enthusiasm for the great assortment of accessories available at both store
concepts."
Claire's Stores, Inc.
(Monthly Sales in 000's)
TOTAL COMP. STORE
REPORTING PERIOD FY 2005 FY 2004 CHANGE CHANGE
February $ 82,229 $ 66,858 23% 15%
March $ 105,782 $ 90,806 16% 10%
April $ 93,952 $ 82,092 14% 9%
May $ 89,239 $ 78,258 14% 10%
Year to Date $ 371,202 $ 318,014 17% 11%
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 29, 2004, Claire's Stores, Inc. operated
approximately 2,840 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., 132 stores in Japan as a 50:50 joint venture with AEON,
Co., Ltd. (fka JUSCO, Co. Ltd.), a $25 billion specialty retailer
headquartered in Japan. The Company also operates 55 stores in the Middle
East under a licensing and merchandising agreement with Al Shaya Co., Ltd.
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 Internet home
page: 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. 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; currency fluctuations and exchange
rate adjustments; uncertainties generally associated with the specialty
retailing business; disruptions in our supply of inventory; 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 31,
2004. 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.
SOURCE Claire's Stores, Inc.
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Related links:
http://www.clairestores.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 of Claire's
Stores, Inc., +1-212-594-3127, or Fax, +1-212-244-4237,
marisa.jacobs@claires.com
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