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Claire's Stores posts 18% rise in Q4 profit from continuing operations
09 Mar '06
3 min read
“Interest in jewelry remains high, but at the same time we have seen real growth in newer categories such as licensed fragrances and cosmetics. We will continue to evolve our offerings as styles and trends shift, as we view continuous change as a key factor in our ongoing success,” he said.
Fiscal 2006 net sales grew seven percent to approx. $1.37 billion from approx. $1.28 billion in fiscal 2005. Same store sales increased six percent, compared with an increase of eight percent during fiscal 2005.
Income from continuing operations increased to $172.3 million from $146.3 million in fiscal 2005, an increase of 18 percent. Net income increased to $172.3 million from $143.1 million in fiscal 2005, an increase of 20 percent.
First quarter revenues are estimated to range between $314 and $318 million, an increase of four to five percent from the corresponding period in fiscal 2006. Same store sales are projected to rise by four to five percent, following an increase of five percent in the first quarter of fiscal 2006.
Net income is projected to reach $30 to $32 million. For the first quarter of fiscal 2006, net income was $29.7 million, or $0.30 per diluted share.
For fiscal 2007 in its entirety, the company is projecting that revenues will grow by approx. six to seven percent to approx. $1.45 to $1.47 billion. Same store sales are expected to grow by three to four percent.
Gross margins are expected to increase by 10-20 basis points. SG&A is projected to decrease as a percentage of sales, resulting in a 30-50 basis point improvement.
Net income is projected to reach $190 to $195 million. This projection assumes that the diluted weighted average number of shares outstanding will approximate 96.7 million for fiscal 2007.
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 and Icing by Claire's.
Fiscal 2006 net sales grew seven percent to approx. $1.37 billion from approx. $1.28 billion in fiscal 2005. Same store sales increased six percent, compared with an increase of eight percent during fiscal 2005.
Income from continuing operations increased to $172.3 million from $146.3 million in fiscal 2005, an increase of 18 percent. Net income increased to $172.3 million from $143.1 million in fiscal 2005, an increase of 20 percent.
First quarter revenues are estimated to range between $314 and $318 million, an increase of four to five percent from the corresponding period in fiscal 2006. Same store sales are projected to rise by four to five percent, following an increase of five percent in the first quarter of fiscal 2006.
Net income is projected to reach $30 to $32 million. For the first quarter of fiscal 2006, net income was $29.7 million, or $0.30 per diluted share.
For fiscal 2007 in its entirety, the company is projecting that revenues will grow by approx. six to seven percent to approx. $1.45 to $1.47 billion. Same store sales are expected to grow by three to four percent.
Gross margins are expected to increase by 10-20 basis points. SG&A is projected to decrease as a percentage of sales, resulting in a 30-50 basis point improvement.
Net income is projected to reach $190 to $195 million. This projection assumes that the diluted weighted average number of shares outstanding will approximate 96.7 million for fiscal 2007.
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 and Icing by Claire's.
Claire's Stores Inc
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