CLAIRE'S STORES shares rose 7.8 percent after analyst Robin Murchison of Southcoast Capital raised her second-quarter earnings forecast. The Pembroke Pines fashion accessory
retailer's shares closed at $21.56 1/4, up $1.56 1/4, in trading of 824,900, more than twice the three-month daily average.
Murchison increased her second-quarter estimate to 22 cents a share from 20 cents because of strong same-store sales in July. She said she expects the company's sales in stores open at
least a year to increase 6 percent for the quarter, up from 4 percent. She also raised her annual earnings estimate to $1.16 for 1997 and $1.34 for 1998.
Claire's Stores operates 1,592 outlets selling fashion accessories for girls and women, under the names Claire's, Claire's Boutiques, Claire's Accessories, Topkapi and Dara Michelle, in
49 states, Canada, the Caribbean, Japan and the United Kingdom. |
