PEMBROKE PINES, Fla., July 7 /PRNewswire-FirstCall/ -- Claire's Stores,
Inc. (NYSE: CLE) today reported that for the five weeks ended July 2, 2005
comparable store sales rose four percent compared to last July, when
comparable store sales rose 11 percent. Total sales during the five-week
period ended July 2, 2005 increased six percent to $124,336,000 compared with
$116,757,000 for the comparable five-week period last year.
Comparable store sales results for June 2005 compared to June 2004 were as
follows:
* Claire's North America: positive low single digits
* Claire's International: positive high single digits
* Icing by Claire's: positive mid single digits
Bonnie Schaefer, Co-Chairman and Co-CEO stated that, "Our international
operations are continuing to deliver positive results reflective of the
operational initiatives and merchandise refinements we have been implementing
over the past year. Our stores in Switzerland, Austria and Germany have a
very strong fashion assortment in terms of both jewelry and accessories while
recent jewelry receipts in France are proving to be quite popular. The United
Kingdom is continuing to make steady progress, with comparable store sales up
significantly over this time last year. A greatly improved jewelry department
as well as a better assortment of fashion accessories are two of the many
reasons for the sustained improvement."
Marla Schaefer, Co-Chairman and Co-CEO of Claire's Stores noted that, "Our
North American business performed generally in line with expectations during
June. While Bohemian looks continue to be an important fashion offering, we
are seeing strength across a number of merchandise categories and styles. We
believe the breadth of our selection continues to drive our business, as it
offers our customers the ability to customize their looks according to their
own unique styles. Back to school merchandise is beginning to flow into the
stores, but in transitional color palates and textures that can also be worn
immediately."
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%
June $124,336 $116,757 6% 4%
Year-to-Date $521,722 $487,587 7% 4%
Comparable Store Sales Outlook for the Second Quarter -- Fiscal 2006
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 July 2, 2005, Claire's Stores, Inc. operated
approximately 2,845 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., 165 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 70 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 of Claire's
Stores, +1-212-594-3127, Fax: +1-212-244-4237,
marisa.jacobs@claires.com
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