July 20, 2017 11:22 PM 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. The company sells jewelry products, including earrings, necklaces, bracelets, body jewelry, and rings, as well as offers ear piercing services. It also sells accessories comprising hair goods; beauty products; room decors; personal, fashion, and seasonal accessories, including phone cases, jewelry holders, stationery, key rings, attitude glasses, headwear, legwear, arm wear, and sunglasses; and handbags and small leather goods. The company operates stores under the Claire’s and Icing brands. As of January 28, 2017, it operated 2,710 stores in 17 countries in...

3 SW 129th Avenue

Pembroke Pines, FL 33027

United States

Founded in 1961

6,006 Employees

Phone:

954-433-3900

Fax:

954-433-3999

Key Executives for Claire's Stores Inc.

Chief Executive Officer and Director
Age: 63
Chief Financial Officer and Executive Vice President
Age: 50
Chief Merchandise Officer and Executive Vice President
Executive Vice President of Planning Allocation and Supply Chain for North America
Senior Vice President of Stores
Compensation as of Fiscal Year 2017.

Claire's Stores Inc. Key Developments

Claire's Stores Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended April 29, 2017

Claire's Stores Inc. reported unaudited consolidated earnings results for the first quarter ended April 29, 2017. For the quarter, the company reported net sales of $299,621,000 against $299,647,000 for the same period in the last year. Operating income was $28,676,000 against $14,994,000 for the same period in the last year. Loss before income tax expense was $14,904,000 against $40,085,000 for the same period in the last year. Net loss was $6,758,000 against $38,758,000 for the same period in the last year. Adjusted EBITDA was $41,802,000 against $36,982,000 for the same period in the last year. Net sales were affected by an increase in same store sales and an increase in new concession store sales and new store sales, offset by the effect of store closures, an unfavorable foreign currency translation effect of non-U.S. net sales and decreased shipments to franchisees. Net sales would have increased 2.4% excluding the impact of foreign currency exchange rate changes. Consolidated same store sales increased 4.4%.

Claire's Stores Inc., Q1 2018 Earnings Call, Jun 07, 2017

Claire's Stores Inc., Q1 2018 Earnings Call, Jun 07, 2017

Claire's Stores Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended January 28, 2017; Announces Impairment Changes for the Fiscal Fourth Quarter Ended January 28, 2017

Claire's Stores Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended January 28, 2017. For the quarter, the company reported net sales of $382,456,000 against $402,601,000 for the same period in the last year, the decrease was attributable to the effect of store closures, a decrease in same store sales, an unfavorable foreign currency translation effect of non-U.S. net sales and decreased shipments to franchisees, partially offset by new concession store sales and new store sales. Net sales would have decreased 2.7% excluding the impact of foreign currency exchange rate changes. Consolidated same store sales decreased 1.0%, with North America same store sales decreasing 2.3% and Europe same store sales increasing 1.3%. The company computes same store sales on a local currency basis, which eliminates any impact from changes in foreign currency exchange rates. For the fiscal 2017 quarter-to-date period, consolidated same store sales have increased in the low single digit range, with Europe outperforming North America. Operating income was $16,947,000 against loss of $93,311,000 for the same period in the last year. Loss before income tax expense was $27,107,000 against $148,367,000 for the same period in the last year. Net loss was $25,844,000 against $146,209,000 for the same period in the last year. Adjusted EBITDA was $76,944,000 against $80,579,000 for the same period in the last year. For the year, the company reported net sales of $1,311,316,000 against $1,402,860,000 for the same period in the last year, consolidated same store sales decreased 3.3% in fiscal 2016. In North America, same store sales decreased 2.1% in fiscal 2016 while Europe same store sales decreased 5.2%. Net sales would have decreased 4.9% excluding the impact from foreign currency rate changes. Operating loss was $63,718,000 against $14,561,000 for the same period in the last year. Income before income tax expense was $51,748,000 against loss of $234,377,000 for the same period in the last year. Net income was $53,899,000 against $236,435,000 for the same period in the last year. Adjusted EBITDA was $188,225,000 against $217,313,000 for the same period in the last year. For the fiscal fourth quarter ended January 28, 2017, the company reported impairment of assets of $39,347,000 against $155,102,000 for the same period a year ago.

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