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April 27, 2015 7:07 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 President of The European Division
Chief Financial Officer, Principal Accounting Officer and Executive Vice President
Age: 52
Head of Quality Assurance, Senior Vice President, General Counsel and Secretary
Chief Merchandise Officer
Age: 61
Executive Vice President and General Merchandise Manager of Buying & Design
Compensation as of Fiscal Year 2014.

Claire's Stores Inc. Key Developments

Claire's Stores Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended January 31, 2015; Reports Impairment of Assets for the Fiscal Fourth Quarter of 2015; Provides Capex Guidance for 2015

Claire's Stores Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended January 31, 2015. For the quarter, the company reported net sales of $412,410,000 against $435,530,000 for the same period in the last year. The decrease was attributable to the effect of store closures, lower same store sales and an unfavorable foreign currency translation effect on the company's non-U.S. sales, partially offset by new store sales and an increase in shipments to franchisees. Operating loss was $65,708,000 against income of $64,244,000 for the same period in the last year. Loss before income tax expense was $119,978,000 against income of $10,067,000 for the same period in the last year. Net loss was $122,049,000 against income of $7,415,000 for the same period in the last year. Adjusted EBITDA was $84,658,000 against $95,748,000 for the same period in the last year. Capital expenditures were $6.6 million in the fourth quarter, of which 74% was related to new store openings and targeted remodeling projects. Consolidated same store sales decreased 2.3%, with North America same store sales decreasing 1.5% and Europe same store sales decreasing 3.8%. For the year, the company reported net sales of $1,494,251,000 against $1,513,177,000 for the same period in the last year. Operating income was $18,460,000 against $171,772,000 for the same period in the last year. Loss before income tax expense was $198,719,000 against $56,384,000 for the same period in the last year. Net loss was $207,582,000 against $65,307,000 for the same period in the last year. Adjusted EBITDA was $247,970,000 against $268,760,000 for the same period in the last year. Capital expenditure was $48 million or $44 million net of tenant allowance. For the fiscal fourth quarter of 2015, the company reported impairment of assets of $128,157,000. According to the company’s 2015 capex plans, the current expectation is to spend approximately $30 million, excluding tenant allowances of $3.2 million.

Claire's Stores Inc., Q4 2015 Earnings Call, Mar 18, 2015

Claire's Stores Inc., Q4 2015 Earnings Call, Mar 18, 2015

Claire's Stores Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended November 1, 2014

Claire's Stores Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended November 1, 2014. For the quarter, the company reported net sales of $350,669,000 against $356,938,000 for the same period in the last year. The decrease was attributable to the effect of store closures, lower same store sales and an unfavorable foreign currency translation effect on the company's non-U.S. sales, partially offset by new store sales and an increase in shipments to franchisees. Net sales would have decreased 0.8% excluding the impact of foreign currency exchange rate changes. Operating income was $29,186,000 against $30,617,000 for the same period in the last year. Loss before income tax expense was $24,407,000 against $22,593,000 for the same period in the last year. Net loss was $26,822,000 against $25,466,000 for the same period in the last year. Adjusted EBITDA was $50,666,000 against $54,604,000 for the same period in the last year. Adjusted EBITDA would have been $51.7 million excluding foreign currency exchange rate changes in the third quarter of fiscal 2014. The fiscal 2014 third quarter cash balance increase of $0.6 million consisted of positive impacts of $55.4 million from net borrowings under the Credit Facilities and $50.7 million of Adjusted EBITDA, partially offset by reductions for $78.4 million of cash interest payments, $10.4 million of capital expenditures, $9.4 million for seasonal working capital uses and $7.3 million for tax payments and other items. Consolidated same store sales decreased 1.4%, with North America same store sales decreasing 1.6% and Europe same store sales decreasing 1.1%. For the nine months, the company reported net sales of $1,081,841,000 against $1,077,647,000 for the same period in the last year. Operating income was $84,168,000 against $107,528,000 for the same period in the last year. Loss before income tax expense was $78,741,000 against $66,451,000 for the same period in the last year. Net loss was $85,533,000 against $72,722,000 for the same period in the last year. Adjusted EBITDA was $163,312,000 against $173,012,000 for the same period in the last year.

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