CLAIRE'S STORES REPORTS MAY SALES RESULTS
CLAIRE'S STORES REPORTS MAY SALES RESULTS PEMBROKE PINES, Fla., June 4 /PRNewswire/ -- Claire's Stores, Inc.
(NYSE: CLE) today reported net sales for the month of May decreased 4 percent to $16,353,000 from $16,983,000 a year earlier, with same-store sales decreasing 12 percent.
CLAIRE'S STORES, INC. (Monthly Sales to Date in 000s) FY FY Total Same-Store Reporting Change 1993 1992 Change Change February $14,071 $14,148 - 1 pct. - 9 pct. March $18,827 $21,582 - 13 pct. - 20 pct. April $18,641 $16,335 14 pct. 4 pct. First Quarter $51,539 $52,065 - 1 pct. - 9 pct. May $16,353 $16,983 - 4 pct. - 12 pct. Year To Date $67,892 $69,048 - 2 pct. - 10 pct. "One year ago we made significant purchases of Easter goods at closeout prices and promoted them heavily. This resulted in incremental sales but contributed to a very poor inventory position," stated Rowland Schaefer, Claire's chairman and president. "By contrast, we have more selectively purchased goods this year, have experienced improved sell through and remained disciplined about maintaining a quality inventory position. Therefore, this apples to oranges sales comparison is not indicative of our ability to profitability satisfy any improvement in consumer demand," he concluded. Claire's Stores, Inc., the nation's premier retailer specializing in one-stop shopping for women's fashion accessories, currently owns and operates 1,003 stores in 47 states, primarily under the names "Claire's Boutiques", "Topkapi" and "Dara Michelle". -0- 6/4/92 /CONTACT: David Buchsbaum of Claire's Stores, Inc., 305-433-3900/ (CLE) CO: Claire's Stores, Inc. ST: Florida IN: REA SU:
AW-JB -- FL003 -- 6915 06/04/92 09:27 EDT
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|Date:||Jun 4, 1992|
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