PEMBROKE PINES, Fla., Feb. 5 /PRNewswire-FirstCall/ -- Claire's Stores,
Inc. (NYSE: CLE) reported today that same store sales for the four weeks ended
January 31, 2004 increased ten percent following an eight percent increase in
same store sales during the corresponding four-week period last year. Total
sales during the four-week period ended January 31, 2004 increased 17 percent
to $67,424,000 compared with $57,451,000 for the comparable four-week period
last year.
Same store sales by brand for January were as follows:
- Claire's North America: positive mid teens
- Claire's Europe: negative low single digits
- Icing by Claire's: positive high teens
Sales for the fourth fiscal quarter ended January 31, 2004 increased
13 percent to $364,438,000, compared with sales of $322,206,000 during last
year's final fiscal quarter. Same store sales increased seven percent
following an increase of nine percent during last year's fourth fiscal
quarter.
For Fiscal 2004 in its entirety, sales increased 13 percent to
$1,132,722,000 compared to sales of $1,001,262,000 in Fiscal 2003. Same store
sales increased seven percent, compared to an increase of five percent in the
prior fiscal year.
Bonnie Schaefer, Co-Chairman and Co-CEO of Claire's Stores, Inc. said, "In
January we witnessed a marked improvement in our consolidated European same
store sales results, with each region showing progress since December. A
number of projects are underway to strengthen our European operations and they
will continue to be a focus of management's attention throughout Fiscal 2005.
Our objective is for European same store sales to turn positive as the year
progresses."
Marla Schaefer, Co-Chairman and Co-CEO of Claire's Stores, Inc. said,
"Claire's and Icing by Claire's each performed extremely well in January,
continuing a pattern of strong performance that has prevailed since the
summer. Post-Christmas business was brisk and our stores are well positioned
for Valentine's Day and the spring season with fresh and appealing new
merchandise."
The Company announced that it is raising its earnings guidance for the
fourth quarter of Fiscal 2004. Diluted EPS is currently projected to reach
$0.56 to $0.57 before a one-time charge attributable to the retirement package
granted to the Company's Chairman Emeritus, compared to earlier guidance of
$0.55 to $0.56 per diluted share.
Claire's Stores, Inc.
(Monthly Sales in 000's)
REPORTING PERIOD FY 2004 FY 2003 TOTAL SAME STORE
CHANGE CHANGE
February $66,858 $59,042 13% 6%
March $90,806 $83,551 9% 3%
April $81,911 $67,912 21% 15%
May $78,258 $67,803 15% 7%
June $101,072 $91,068 11% 4%
July $85,871 $79,713 8% 4%
August $87,620 $77,917 13% 8%
September $93,911 $82,429 14% 7%
October $81,977 $69,621 18% 10%
November $91,379 $81,573 12% 6%
December $205,635 $183,182 12% 6%
January $67,424 $57,451 17% 10%
Year to Date $1,132,722 $1,001,262 13% 7%
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 (North America
and Europe) and Icing by Claire's. As of January 31, 2004, Claire's Stores,
Inc. operated approximately 2,850 stores in the United States, the Caribbean,
Puerto Rico, Canada, the United Kingdom, Ireland, Switzerland, Austria,
Germany and France. Claire's Stores, Inc. also operates through its
subsidiary Claire's Nippon, Co., Ltd., over 120 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.
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
Internet home page: http://www.clairestores.com.
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 and teen apparel and accessories, competition,
general economic conditions, currency fluctuations, uncertainties generally
associated with the specialty retailing business, and potential difficulties
or delays in identifying, attracting and retaining qualified individuals to
serve in senior management positions 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 February 1, 2003. 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.
SOURCE Claire's Stores, Inc.
CONTACT: Marisa F. Jacobs, Esq., Vice President of Corporate
Communications and Investor Relations of Claire's Stores, Inc.,
Phone: +1-212-594-3127, Fax: +1-212-244-4237 or
Email: marisa.jacobs@claires.com Web site:
http://www.clairestores.com (CLE)
