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September 02, 2015 10:08 AM ET

Specialty Retail

Company Overview of Claire's Stores Inc.

Company Overview

Claire’s Stores, Inc. operates as a specialty retailer of fashionable jewelry and accessories for young women, teens, tweens, and kids. It sells jewelry products, including earrings, necklaces, bracelets, body jewelry, and rings, as well as offers ear piercing services. The company also sells accessories comprising hairgoods; beauty products; personal, fashion, and seasonal accessories, including phone cases, jewelry holders, stationery, key rings, DIY kits, attitude glasses, headwear, legwear, armwear, and sunglasses; and handbags and small leather goods. It operates stores under the Claire’s and Icing brand names. As of January 31, 2015, the company operated 2,998 stores, including 1,837 s...

2400 West Central Road

Hoffman Estates, IL 60192

United States

Founded in 1961

6,804 Employees

Phone:

847-765-1100

Key Executives for Claire's Stores Inc.

Chief Executive Officer and Director
Chief Financial Officer, Principal Accounting Officer and Executive Vice President
Age: 53
Senior Vice President of Quality Assurance, General Counsel and Secretary
Executive Vice President and General Merchandise Manager of Buying & Design
Executive Vice President of Planning Allocation and Supply Chain for North America
Compensation as of Fiscal Year 2015.

Claire's Stores Inc. Key Developments

Claire's Stores Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended August 1, 2015

Claire's Stores Inc. reported unaudited consolidated earnings results for the second quarter and six months ended August 1, 2015. For the quarter, the company reported net sales of $347.6 million, a decrease of $30.2 million, or 8.0% compared to the fiscal 2014 second quarter. The decrease was attributable to an unfavorable foreign currency translation effect of the company's non-U.S. net sales, the effect of store closures and a decrease in same store sales, partially offset by new store sales and increased shipments to franchisees. Net sales would have decreased 1.3% excluding the impact from foreign currency exchange rate changes. Consolidated same store sales decreased 1.7%, with North America same store sales increasing 0.7% and Europe same store sales decreasing 5.2%. The company computes same store sales on a local currency basis, which eliminates any impact from changes in foreign currency exchange rates. Operating income was $38,694,000 against $38,227,000 for the same period in the last year. Loss before income tax expense was $16,350,000 against $16,330,000 for the same period in the last year. Net loss was $18,869,000 against $20,574,000 for the same period in the last year. Adjusted EBITDA in the fiscal 2015 second quarter was $59.9 million compared to $64.5 million last year. The fiscal 2015 second quarter cash balance increase of $60.5 million consisted of positive impacts of $59.9 million of Adjusted EBITDA and $43.8 million from net borrowings under the Credit Facilities offset by reductions for $28.0 million of cash interest payments, $8.3 million of capital expenditures, $3.7 million from seasonal working capital uses and $3.2 million for tax payments and other items. For the six months, the company reported net sales of $667,582,000 against $731,172,000 for the same period in the last year. Operating income was $57,718,000 against $54,982,000 for the same period in the last year. Loss before income tax expense was $51,746,000 against $54,334,000 for the same period in the last year. Net loss was $54,287,000 against $58,711,000 for the same period in the last year. Adjusted EBITDA was $97,536,000 against $112,646,000 for the same period in the last year.

Claire's Stores Inc. expected to report Q2 2016 results on September 2, 2015. This event was calculated by Capital IQ (Created on August 28, 2015).

Claire's Stores Inc. expected to report Q2 2016 results on September 2, 2015. This event was calculated by Capital IQ (Created on August 28, 2015).

Claire's Stores Inc., Q2 2016 Earnings Call, Sep 02, 2015

Claire's Stores Inc., Q2 2016 Earnings Call, Sep 02, 2015

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