Claire's Stores, Inc. Reports August Comparable Store Sales Increase One Percent
August 31 2006 - 6:00AM
PR Newswire (US)
PEMBROKE PINES, Fla., Aug. 31 /PRNewswire-FirstCall/ -- 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/. DATASOURCE:
Claire's Stores, Inc. CONTACT: Marisa F. Jacobs, Esq., Vice
President of Corporate Communications and Investor Relations,
+1-212-594-3127, Fax, +1-212-244-4237, Web site:
http://www.clairestores.com/ http://www.claires.com/ Company News
On-Call: http://www.prnewswire.com/comp/174913.html
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