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CLAIRE'S STORES REPORTS RECORD FOURTH QUARTER EARNINGS, UNAUDITED FULL YEAR RESULTS

 PEMBROKE PINES, Fla., Feb. 16 /PRNewswire/ -- Claire's Stores, Inc. (NYSE: CLE) today reported on an unaudited basis earnings for the fiscal year ended Jan. 30, 1993 increased 178 percent to $14,551,000 or $.71 per share vs. income from continuing operations of $5,226,000 or $.26 per share in the previous year. Sales for the full year increased 6 percent to $247,988,000 from $234,162,000, with same-store sales declining 1 percent.
 For the fourth quarter net income increased 162 percent to a record $11,617,000 or $.57 per share vs. income from continuing operations of $4,438,000 or $.22 per share a year ago. Sales during the quarter rose 16 percent to $85,327,000 from $73,727,000, with same-store sales increasing 10 percent.
 "What a difference a year makes," stated Rowland Schaefer, Claire's Stores chairman and president. "Just last year we took some difficult steps, including changes in senior management and a repositioning of our company to concentrate solely upon the fashion accessory business. These excellent results were made possible by such changes," he continued.
 "Proactive management of inventories and expenses have benefited earnings throughout the year and when coupled with strong same-store sales made possible these record fourth quarter earnings," stated Schaefer. "Trailing inventory turnover reached a record-tying 3.1 times vs. 2.3 times a year ago. Inventory levels are well-positioned at $19.8 million leaving us with the open-to-buy capacity necessary to meet changes in demand. Expenses actually declined during the quarter and year, despite the net addition of 43 new stores," he continued.
 "Our strong balance sheet shows approximately $39 million of cash at year end, part of which will be utilized to reduce our long term obligations. Cash flow will easily cover a $16 million capital expenditures budget which includes the addition of approximately 75 net openings in the forthcoming year. In conclusion, we look forward to the new year with great optimism about our future," Schaefer concluded.
 Claire's Stores, Inc., the nation's premier retailer specializing in one-stop shopping for women's fashion accessories, currently owns and operates 1,037 stores in 48 states, primarily under the names "Claire's Boutiques", "Topkapi" and "Dara Michelle".
 CLAIRE'S STORES, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF OPERATIONS
 (In thousands except per share data)
 (Unaudited)
 12 MONTHS ENDED
 Jan. 30, 1993 Feb. 1, 1992
 Net sales $247,988 $234,162
 Cost of sales, occupancy
 and buying expenses 116,862 116,963
 Gross Profit 131,126 117,199
 Other expenses:
 Selling, general
 and administrative 92,906 93,209

 Depreciation and amortization 13,033 12,760
 Interest expense, net 1,718 2,815
 Total 107,657 108,784
 Income from continuing operations
 before income taxes 23,469 8,415
 Income taxes 8,918 3,189
 Income from continuing operations 14,551 5,226
 Loss from operations of
 discontinued subsidiary,
 net of taxes --- (2,047)
 Loss on disposal of discontinued
 subsidiary, net of taxes --- (11,927)
 Net income (loss) $ 14,551 ($ 8,748)
 Net Income (loss) Per Share:
 Income from continuing operations $.71 $.26
 Loss from operations of
 discontinued subsidiary --- (.10)
 Loss on disposal of
 discontinued subsidiary --- (.59)
 Net income (loss) $.71 $(.43)
 FOURTH QUARTER ENDED
 Jan. 30, 1993 Feb. 37,241
 36,472
 Gross Profit 48,086 37,255
 Other expenses:
 Selling, general
 and administrative 25,745 26,084
 Depreciation and amortization 3,227 3,204
 Interest expense, net 382 591
 Total 29,354 29,879
 Income from continuing operations
 before income taxes 18,732 7,376
 Income taxes 7,115 2,938
 Income from continuing operations 11,617 4,438
 Income from operations of
 discontinued subsidiary,
 net of taxes --- 401
 Loss on disposal of discontinued
 subsidiary, net of taxes --- (11,927)
 Net income (loss) $ 11,617 ($ 7,088)
 Net Income (loss) Per Share:
 Income from continuing operations $.57 $.22
 Income from operations of
 discontinued subsidiary --- .02
 Loss from disposal of
 discontinued subsidiary --- (.59)
 Net income (loss) $.57 $(.35)
 -0- 2/16/93
 /CONTACT: David Buchsbaum, director of financial relations of Claire's Stores, Inc., 305-433-3900/
 (CLE)


CO: Claire's Stores, Inc. ST: Florida IN: REA SU: ERN

AW-BN -- FL002 -- 6766 02/16/93 09:43 EST
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Date:Feb 16, 1993
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