PEMBROKE PINES, Fla., Nov. 30 /PRNewswire-FirstCall/ -- Claire's
Stores, Inc. (NYSE: CLE) today reported that for the four weeks ended
November 25, 2006 comparable store sales were flat compared to last
November, when comparable store sales rose five percent. Total sales during
the four-week period ended November 25, 2006 increased nine percent to
$110,278,000 compared with $101,433,000 for the comparable four-week period
last year.
Comparable store sales results for November 2006 compared to November
2005 were as follows:
-- Claire's North America: positive low single digits
-- Claire's International: negative low single digits
-- Icing by Claire's: negative mid 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.
Bonnie Schaefer, Co-Chairman and Co-CEO stated that, "As predicted, the
comparable store sales performance of our International division continues
to fluctuate. Our stores in Switzerland, Austria and Germany continue to
perform well despite the daunting comparisons they face. We have found that
the customers there have shopping habits that are the most closely aligned
with our North American customers. As we have previously stated, the retail
environments in the UK and France are difficult, with traffic slower than
at this time last year. However, customers in the stores are shopping and
on an aggregate year to date basis, International average ticket prices
have increased since last November. We are continuously introducing new
merchandise at attractive prices to provide customers with an appealing
selection."
Marla Schaefer, Co-Chairman and Co-CEO noted that, "The trends that
began earlier this fall have continued throughout November in both jewelry
and accessories. Our customers are still shopping, however the nature of
their purchases has changed. During November, on a consolidated basis, our
North American stores saw an increase in transaction volume compared to
last November, as well as an increase in units per transaction. This was
offset however, by a decline in our average unit retail price. As fashions
shift and as we move past comparisons against the higher priced Bohemian
merchandise, we anticipate a return to more robust comparable store sales."
CLAIRE'S STORES, INC.
(Monthly Sales in 000's)
TOTAL COMP. STORE
REPORTING FY 2007 FY 2006 CHANGE CHANGE
PERIOD
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%
September $125,508 $116,366 8% 1%
October $105,221 $100,165 5% -1%
November $110,278 $101,433 9% 0%
Year-to-Date $1,118,762 $1,056,442 6% 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 November 25, 2006,
Claire's Stores, Inc. operated approximately 3,000 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 195 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 115 stores in the Middle East and Turkey under a licensing
and merchandising agreement with Al Shaya Co., Ltd. and eight 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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