Nothing to Celebrate

Claire’s Stores Inc. (Pembroke Pines, Fla.) has reported a 10 percent increase in same-store sales for the five weeks ended April 3, 2004. Total sales increased 16 percent.

By divisions, the company reported same-store sales as: Claire’s North America: positive mid teens; Claire’s International: negative mid single digits; and Icing by Claire’s: positive low twenties

“Profitability levels in our international division, consisting of stores in Europe, Ireland and the United Kingdom, continue to meet expectations,” said co-chairman and co-ceo Bonnie Schaefer. “While comparable store sales continue to fluctuate each month, they are remaining in negative single-digit territory. Last year, our U.K. based stores sold approximately $1.1 million of merchandise in connection with a biannual celebration. The absence of that celebration this year negatively impacted our March same-store sales, but will have a beneficial effect next year. If the celebration had occurred this fiscal year and generated the same $1.1 million of sales, comparable-store sales in our international division would have declined by low single digits versus the mid single digit decline reported.”