Claire's Stores comparable store sales boost 10%

02 Sep '05
2 min read

Costume jewelry retailer Claire's Stores Inc reported that for the four weeks ended August 27, 2005 comparable store sales rose ten percent compared to last August, when comparable store sales rose seven percent. Total sales during the four-week period ended August 27, 2005 increased twelve percent to $110,717,000 compared with $98,990,000 for the comparable four-week period last year.

Comparable store sales results for August 2005 compared to August 2004 were as follows:
-- Claire's North America: positive low double digits
-- Claire's International: positive mid single digits
-- Icing by Claire's: positive mid teens

For the first seven months of Fiscal 2006, sales increased eight percent to $738,277,000 compared to sales of $685,804,000 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 seven months of Fiscal 2005.

Third Quarter Guidance
For the third quarter of Fiscal 2006, we are now estimating revenues between $311 to $317 million, an increase of five to seven percent. Comparable store sales are now projected to rise by four to six percent for the quarter. This follows an increase of nine percent in the third quarter of Fiscal 2005. Net income is projected to reach $28 to $31 million, or $0.28 to $0.31 per diluted share.

US based jewellery & accessories retailer Claire's Stores Inc is a leading international specialty retailer offering costume jewelry and accessories to fashion-aware tweens, teens and young adults through its two store concepts: Claire's and Icing by Claire's. While the latter operates only in North America, Claire's operates internationally.

It operates 70 stores in the Middle East and Turkey under a licensing and merchandising agreement with Al Shaya Co Ltd and six stores in South Africa under similar agreements with The House of Busby Limited.

Claire's Stores Inc

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