Claire's March same-store sales down 3% on shift in Easter
06 Apr '06
2 min read
Costume jewelry and accessories retailer Claire's Stores Inc has reported that for the five weeks ended April 1st 2006 same-store sales decreased three percent, in contrast to the five-week period ended April 2nd 2005 when same-store sales rose ten percent.
The primary reason for the decline is the shift in Easter, which falls in April this year in contrast to last year, when Easter was in March. Total sales during the five-week period ended April 1st 2006 decreased three percent to $116,666,000 compared with $119,692,000 for the comparable five-week period last year.
Comparable store sales results for March 2006 compared to March 2005 were as follows:
* Claire's North America: negative low single digits
* Claire's International: negative mid single digits
* Icing by Claire's: flat
Bonnie Schaefer, Co-Chairman and Co-CEO stated, "March comparable store sales comparisons were somewhat difficult in our International division as we were not only dealing with the Easter shift but the absence of Comic Relief Red Nose Day, a countrywide charity event in the UK that occurs every other year.”
“We are looking forward to a stronger International business in April, as our customers prepare for Easter and accessorize their spring looks. We are also pleased to announce that in March, we opened our first store in Portugal, moving ahead with our plan to further expand our business in Europe," he said.
Marla Schaefer, Co-Chairmanand Co-CEO of Claire's Stores noted that, "Our consolidated March results seem to be a mirror of last April, when we reported negative same-store sales as a result of the Easter shift. Our expectation is that our April same-stores sales will return to positive territory, and we continue to repeat the advice we have been giving since March: specifically, that March and April should be judged as a unit for the purposes of measuring the performance of our business."
Claire's Stores Inc, is a leading international specialty retailer offering value-priced costume jewelry and accessories to fashion-aware tweens, teens and young adults through its two store concepts: Claire's and Icing by Claire's.
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