Claire's Stores Q1 profit unchanged, revenue up 3%
18 May '06
3 min read
Bonnie Schaefer, Co-Chairman and Co-CEO, said, "We are very pleased that our International division delivered another quarter of positive comparable store sales growth. Our efforts to improve our European stores by refining our inventory, improving their visual appeal and enhancing the level of our customer service are proving successful. We believe however, that our focus on strengthening our international operations makes great sense and are committed to moving forward with our work in this area."
For the second quarter of fiscal 2007, we are estimating revenues between $338 and $342 million, an increase of four to five percent. Comparable store sales are projected to rise by three percent. This follows an increase of five percent in the second quarter of fiscal 2006. Net income on a diluted per share basis is projected to be essentially flat, ranging between $0.35 to $0.36.
For fiscal 2007 in its entirety, the company is currently projecting that revenues will grow by approx. six to seven percent to approx. $1.45 to $1.47 billion. Comparable store sales are expected to grow by three to four percent.
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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