PEMBROKE PINES, Fla., Aug. 5 /PRNewswire-FirstCall/ -- Claire's Stores,
Inc. (NYSE: CLE) reported today that comparable store sales for the four weeks
ended July 31, 2004 increased nine percent after increasing four percent
during the corresponding four-week period last year. Total sales during the
four-week period ended July 31, 2004 increased 15 percent to $98,824,000
compared with $85,619,000 for the comparable four-week period last year.
Comparable store sales results for July 2004 compared to July 2003 were as
follows:
* Claire's North America: positive high single digits
* Claire's International: positive mid single digits
* Icing by Claire's: positive mid teens
Sales for the second quarter of Fiscal 2005, ended July 31, 2004,
increased 15 percent to $304,820,000 compared with $264,949,000 for last
year's second fiscal quarter. Comparable store sales increased ten percent
compared with an increase of five percent in the second quarter of last year.
For the first six months of Fiscal 2005, sales increased 16 percent to
$586,783,000 compared to sales of $504,705,000 for the comparable period last
year. Year to date, comparable store sales increased 11 percent compared with
an increase of six percent during the first six months of Fiscal 2004.
Bonnie Schaefer, Co-Chairman and Co-CEO of Claire's Stores, Inc. said,
"Our second quarter international results reflect a measurable improvement in
comparable store sales when contrasted to last year's second fiscal quarter.
Among the numerous factors responsible for the improvement, two changes stand
out above others in significance. First, international inventories are being
transitioned to more closely mirror the inventory in our North American
stores. A second activity, although related, involves the re-balancing our
merchandise mix to increase jewelry as a percentage of our product offerings
compared to the prior international emphasis on accessories. Other
initiatives are still being implemented and further changes will be made over
the coming months."
Marla Schaefer, Co-Chairman and Co-CEO of Claire's Stores, Inc. said, "Our
North American business continued to perform extremely well during the second
quarter and we did not experience a significant softening of traffic as a
result of the high gasoline prices that have prevailed across the United
States. Spring and summer merchandise was well received. Our back to school
floor set was introduced approximately two weeks ago and we believe that both
the Claire's and Icing by Claire's stores are filled with fresh and fashion
right merchandise for fall."
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%
June $116,757 $101,072 16% 11%
July $98,824 $85,619 15% 9%
Year-to-Date $586,783 $504,705 16% 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 July 31, 2004, Claire's Stores, Inc. operated
approximately 2,835 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., 134 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 licenses 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, fax, +1-212-244-4237,
marisa.jacobs@claires.com
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