News Flash

Claire's reports single digit growth in same store sales

07 Oct '05

2 min read

Costume jewelry retailer Claire's Stores Inc reported that for the five weeks ended October 1, 2005 comparable store sales rose eight percent. In the five-week period ended October 2, 2004 same store sales rose ten percent. Total sales during the five-week period ended October 1, 2005 increased ten percent to $116,366,000 compared with $105,884,000 for the comparable five-week period last year.

Comparable store sales results for September 2005 compared to September 2004 were as follows:

* Claire's North America: positive mid single digits
* Claire's International: positive low double digits
* Icing by Claire's: positive low double digits

For the first eight months of Fiscal 2006, sales increased eight percent to $854,643,000 compared to sales of $791,688,000 for the comparable period last year. Year to date, comparable store sales increased six percent compared with an increase of ten percent during the first eight.

Third Quarter Guidance
For the third quarter of Fiscal 2006, we are now estimating that revenues will be between $315 to $321 million, an increase of six to eight percent. Comparable store sales are now projected to rise by five to seven percent for the quarter. This follows an increase of nine percent in the third quarter of Fiscal 2005. Net income is projected to reach $30 to $33 million, or $0.30 to $0.33 per diluted share.

Full Year Guidance
For Fiscal 2006 in its entirety, the Company is projecting that revenues will grow by approximately five to seven percent to approximately $1.35 to $1.37 billion and that diluted EPS will reach $1.58 to $1.67 per share compared to $1.44 in Fiscal 2005. Comparable store sales are expected to grow by three to five percent, on top of an eight percent increase for Fiscal 2005.

More Claire's Stores Inc News... More Fashion News - United States Of America...