PEMBROKE PINES, Fla., Aug 31, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- 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.
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
