PEMBROKE PINES, Fla., July 6 /PRNewswire-FirstCall/ -- Claire's Stores,
Inc. (NYSE: CLE) today reported that for the five weeks ended July 1, 2006
comparable store sales increased two percent after increasing four percent
during the corresponding five-week period last year. Total sales during the
five-week period ended July 1, 2006 increased seven percent to $132,514,000
compared with $124,336,000 for the comparable five-week period last year.
Comparable store sales results for June 2006 compared to June 2005 were
as follows:
-- Claire's North America: positive mid single digits
-- Claire's International: negative low single digits
-- Icing by Claire's: positive low 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, Co-Chairman and Co-CEO of Claire's Stores stated that,
"This month's International comparable store sales results are not in
keeping with the generally improved performance we have been showing for
quite some time now. Direct comparisons to last June are difficult because,
as in May, we faced several holiday shifts resulting in store closures on
days when we were open last year. We also saw a significant downturn in
store traffic throughout our entire European store base on days when World
Cup games were being played. Finally, year over year comparisons in France
are affected by the timing of our semi-annual sale, which began on June
29th this year, approximately one week later than last year. As a result,
we experienced a significant decline in transactions compared to the
comparable days last year, which we believe is attributable to customers
waiting for the start of the sale. Throughout Europe, we continue to
believe that our merchandise selection remains on target, especially with
respect to our expanded jewelry offerings."
Marla Schaefer, Co-Chairman and Co-CEO of Claire's Stores noted that, "Our
North American Claire's and Icing by Claire's stores performed well in June,
delivering consolidated comparable store sales results that exceeded the gains
realized in June 2005. The popularity of jewelry is continuing and interest in
certain accessory categories is also building. We will begin to introduce our
back to school merchandise later this month and are quite excited about those
new looks, which we believe will work extremely well with fall apparel
offerings."
CLAIRE'S STORES, INC.
(Monthly Sales in 000's)
TOTAL COMP. STORE
REPORTING FY 2007 FY 2006 CHANGE CHANGE
PERIOD
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%
June $132,514 $124,336 7% 2%
Year-to-Date $546,932 $521,637 5% 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 July 1, 2006, Claire's Stores,
Inc. operated approximately 2,930 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., approximately 180 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 100 stores in the Middle
East and Turkey under a licensing and merchandising agreement with Al Shaya
Co., Ltd. and seven 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.
 back to top
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 of Claire's
Stores, Inc., Phone, +1-212-594-3127, Fax, +1-212-244-4237, or
Email, marisa.jacobs@claires.com
|
