PEMBROKE PINES, Fla., Aug. 31 /PRNewswire-FirstCall/ -- Claire's
Stores, Inc. (NYSE: CLE) today reported that for the four weeks ended
August 26, 2006 comparable store sales rose one percent compared to last
August, when comparable store sales rose ten percent. Total sales during
the four-week period ended August 26, 2006 increased five percent to
$116,774,000 compared with $110,728,000 for the comparable four-week period
last year.
Comparable store sales results for August 2006 compared to August 2005
were as follows:
-- Claire's North America: positive low single digits
-- Claire's International: negative low single digits
-- Icing by Claire's: negative 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.
For the first seven months of Fiscal 2007, sales increased five percent
to $777,755,000 compared to sales of $738,478,000 for the comparable period
last year. Year to date, comparable store sales increased two percent
compared with an increase of six percent during the first seven months of
Fiscal 2006.
Bonnie Schaefer, Co-Chairman and Co-CEO stated that, "In general, the
performance of our International division has been relatively consistent
over the past few months. However, results within this division vary
significantly by country, with France continuing to present the greatest
challenge. We remain focused on various issues identified some time ago,
particularly in the areas of planning and allocation, and are working to
implement improved processes as quickly as possible. As noted last month,
we remain confident that the end result will be a stronger International
division."
Marla Schaefer, Co-Chairman and Co-CEO noted that, "During August, our
Claire's North American stores continued to outperform our Icing by
Claire's stores. Claire's performed essentially in line with expectations;
results at Icing by Claire's were below our internal plans. Last year's
Bohemian driven sales presented us with challenging comparisons this year,
particularly at Icing by Claire's, which is a more fashion driven concept.
At the same time, we believe that our Icing by Claire's jewelry and
accessory offerings work well with this season's apparel and address the
full spectrum of current jewelry and accessory trends."
CLAIRE'S STORES, INC.
(Monthly Sales in 000's)
TOTAL COMP. STORE
REPORTING PERIOD FY 2007 FY 2006 CHANGE CHANGE
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%
July $114,049 $106,113 7% 2%
August $116,774 $110,728 5% 1%
Year-to-Date $777,755 $738,478 5% 2%
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 adult females 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 August 26, 2006, Claire's
Stores, Inc. operated approximately 2,945 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 190 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 approximately
105 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.
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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, +1-212-594-3127,
Fax, +1-212-244-4237, marisa.jacobs@claires.com
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