Claire's Stores, Inc. Reports February Sales Up 20%; Same Store Sales Climb 9%
Thursday, March 06, 1997 5:36 AM
PEMBROKE PINES, Fla., March 6 /PRNewswire/ -- Claire's Stores, Inc. reported today sales for the four weeks ended March 1 were $29,365,000, up 20 percent over $24,416,000 reported for the four weeks ended March 2, 1996. Same store sales were up nine percent for the comparable four week period.
Rowland Schaefer, Chairman and President of Claire's, said the February results showed a continuation of the strongly positive sales trend the company has enjoyed for the past year. "Last February was a very good month for us so we're especially pleased with the results we're reporting today," he said. "February was the first month of our new fiscal year and we think our performance during the month marks an excellent beginning for our first quarter and an indication that the momentum built last year has not slowed. Not only did we achieve record sales and a significant increase in same store comparisons, but we also improved our margins and recorded unusually good profitability for the month," he added.
Mr. Schaefer said the company expects sales to remain strong not only for the first quarter but for the balance of the new fiscal year. "It's important to note, however, that Easter is March 31 this year, eight days earlier than last year, which means all Easter selling days will be in March this year, making simple month to month comparisons misleading. Because of Easter's shifting date, the March-April period should be thought of as one period; on that basis, we fully expect the next two months and the entire first quarter to remain ahead of last year."
Claire's Stores, Inc., the nation's premier retailer specializing in one- stop shopping for women's fashion accessories, currently owns 1562 stores in 49 states, the Caribbean, Canada, Japan and the United Kingdom, primarily under the names "Claire's," "Claire's Boutiques," "Topkapi," "Dara Michelle," "Claire's Accessories" and "Bow Bangles."
CLAIRE'S STORES
(Monthly Sales in 000s)
Reporting Change FY 1998 FY 1997 TOTAL SAME STORE
CHANGE CHANGE
February $29,365 $24,416 20% 9%
PEMBROKE PINES, Fla., March 6 (Reuter) -
Percent change
1997 1996 Total Same-store
Month $ 29,365 $ 24,416 +20 +9.0
Figures in thousands except percentage.
REUTER |
