Signs Initial Leases in Holland
PEMBROKE PINES, Fla., July 21 /PRNewswire/ -- Claire's Stores, Inc. (NYSE:
CLE) today announced that it has opened its first stores in Spain and that it
has entered into its first leases in Holland. This is part of a broader
initiative to expand the Claire's brand to additional countries in Europe.
The Company reported earlier this year that during Fiscal 2006 it intended
to open stores in two to three new European countries. The Company currently
operates stores in the United Kingdom and Ireland, France, Switzerland,
Austria and Germany, in addition to its large North American presence.
Claire's first entered the United Kingdom in 1996 and continental Europe in
1998 when it completed an acquisition of 53 stores throughout Switzerland,
Austria and Germany. Today's store openings in Spain mark the first time the
Company has commenced operations in a country through organic growth.
Two stores were opened yesterday, each in Madrid. They are located at
Calle Narvaez 22 and Calle Bravo Murillo 101. Two additional stores are
scheduled to open later this month as follows:
July 22 Centro Commercial Principe Pio, Madrid
July 29 Calle Creu Coberta, 122, Barcelona
The average square footage of the new stores is comparable to that in our
other European locations. Each of the stores in Spain will be supplied from
the Company's Austrian warehouse and, like our other stores in Europe, will
carry approximately 7,500 SKU's.
Lease negotiations are currently underway for additional stores to be
opened in Spain in the latter half of this fiscal year or Fiscal 2007. Three
leases have also been signed for stores in Holland, with opening dates planned
for later this year. The three stores are located in the cities of Amsterdam,
Leiden and Nijmegen.
Bonnie Schaefer, Co-Chairman and Co-CEO stated that, "We are tremendously
excited about our entrance into Spain. It is a dynamic country with a
demographic that we believe will be extremely receptive to our stores. We have
had a presence abroad for almost a decade and in that time we have found that
the Claire's brand translates beautifully across borders. Tweens and teens
around the world are interested in costume jewelry and accessories that let
them express their individual personalities, and our enormous selection at
affordable prices makes that possible. Future store opening plans for Spain
and Holland are still in development, and we will provide additional details
over the coming months."
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.
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, Inc., +1-212-594- 3127, +1-212-244-4237 fax,
marisa.jacobs@claires.com
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