Claire's Stores Inc. Reports June Sales Up 37%
PEMBROKE PINES, Fla., July 6 -- Claire's Stores, Inc. (NYSE:
CLE) reported today sales for the five weeks ended July 1, 2000
increased 37 percent to $97,006,000 compared with $71,047,000
reported for the five weeks ended July 3, 1999. Same store sales
declined 1 percent for the month on a consolidated basis compared
with an increase of 9 percent last year. The fashion accessory
division decreased 2 percent while Mr. Rags increased 10 percent on
a same store sales basis.
Rowland Schaefer, Chairman and Chief Executive Officer of
Claire's, said "Same store sales for the month of June were
slightly below plan and we need to have a good month in July to
meet analysts' consensus of 37 cents for the second quarter. We are
seeing great strength in our young novelty and jewelry departments
but we continue to see a softness in our hard hair business. We are
comfortable with current inventory positions." Pursuant to the $50
million stock repurchase program authorized on May 3, 2000 by the
Company's Board of Directors, the Company has purchased
approximately 1,138,000 shares of the Company's common stock at an
average price of $19.70 per share.
Claire's Stores, Inc.
(Monthly Sales in 000's)
Reporting Change FY 2001 FY 2000 TOTAL SAME STORE
CHANGE CHANGE
February $ 64,616 $ 46,807 38% (3)%
March 86,960 69,013 26% (11)%
April 80,451 54,674 47% 6%
May 73,144 54,102 35% (2)%
June 97,006 71,047 37% (1)%
Year to Date 402,177 295,643 36% (3)%
Claire's Stores, Inc., the leading mall-based retailer of
popular-priced pre-teen and teens accessories and costume jewelry,
currently operates more than 3,000 stores under the following trade
names: Claire's Accessories, Afterthoughts, the Icing, Mr. Rags and
Velvet Pixies. The stores are located throughout North America,
Japan, United Kingdom, Switzerland, Austria, Germany and France.
SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995: This 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 for
pre-teen and teen apparel and accessories, competition, and
economic conditions in North America, Europe, United Kingdom and
Japan.
Note: Other Claire's Stores, Inc. press releases, a corporate
profile and most recent 10-K and 10-Q reports are available by fax
at no charge. For a menu of available material, call 1-800-CLENYSE
(1-800-253-6973) or via Claire's Internet home page:
http://www.clairestores.com.
SOURCE Claire's Stores, Inc.
Web site: http://www.clairestores.com
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Contacts:
Sonia Rohan,
Director of Investor Relations of Claire's Stores, Inc.,
212-594-3127, fax: 212-244-4237,
sonia.rohan@claires.com
