PEMBROKE PINES, Fla., Nov. 4 /PRNewswire-FirstCall/ -- Claire's Stores,
Inc. (NYSE: CLE) reported today that comparable store sales for the four weeks
ended October 30, 2004 increased nine percent after increasing ten percent
during the corresponding four-week period last year. Total sales during the
four-week period ended October 30, 2004 increased 11 percent to $91,909,000
compared with $82,615,000 for the comparable four-week period last year.
Comparable store sales results for October 2004 compared to October 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 third quarter ended October 30, 2004 increased 12 percent to
$296,783,000, compared with sales of $264,146,000 during last year's third
fiscal quarter. Comparable store sales increased nine percent this fiscal
quarter following an eight percent increase during the third quarter of Fiscal
2004.
For the first nine months of Fiscal 2005, sales have increased 15 percent
to $883,566,000 compared to sales of $768,851,000 for the comparable period
last year. Comparable store sales increased 10 percent for the first nine
months of this fiscal year, compared to an increase of seven percent during
the first nine months of Fiscal 2004.
Bonnie Schaefer, Co-Chairman and Co-CEO of Claire's Stores, Inc. said, "As
we report our sixth consecutive month of positive comparable store sales
results for our international division, there is no doubt that progress is
being realized. The international operation consists of our stores in the
United Kingdom, Ireland, France, Switzerland, Austria and Germany. Over the
past year, we have focused on a variety of initiatives. The most significant
has been to bring our inventory more closely in line with that found in our
North American stores. Equally important is the fact that we have been
increasing the jewelry selection abroad. These collective efforts, which are
still underway, have led to measurable improvements in our performance. The
positive results support our belief that Claire's European customers are, for
the most part, interested in the same fashion trends as their North American
counterparts. Regional differences will never be ignored, but the popularity
of major trends spreads throughout the world more quickly than ever before."
Marla Schaefer, Co-Chairman and Co-CEO of Claire's Stores, Inc. said,
"October is typically a transition month, as the frenzy of back to school
shopping dissipates and the excitement of shopping for the holidays has not
yet begun to build momentum. This is also a time of year when we are facing
difficult year over year comparisons. As we head into the fourth quarter, we
believe we have a tremendous assortment of the latest jewelry and accessory
offerings in both our Claire's and Icing by Claire's stores and that we are
positioned to offer our customers unparalleled selection and value during the
crucial holiday selling season."
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 %
August $98,990 $87,620 13 % 7 %
September $105,884 $93,911 13 % 10 %
October $91,909 $82,615 11 % 9 %
Year-to-Date $883,566 $768,851 15 % 10 %
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 October 30, 2004, Claire's Stores, Inc. operated
approximately 2,840 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., 145 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 53 stores in the Middle
East under a licensing and merchandising agreement with Al Shaya Co., Ltd. and
three 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. 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; currency fluctuations and
exchange rate adjustments; changes in laws; 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.
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, or Fax: +1-212-244-4237,
marisa.jacobs@claires.com
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