Dec 5, 2010
Claire's sales rise in North America and Europe
Dec 5, 2010
Claire’s Stores, Inc., one of the world’s leading specialty retailers of fashionable accessories and jewelry at affordable prices for young women, teens, and girls ages 3 to 27, has reported its financial results for the fiscal 2010 third quarter, which ended October 30, 2010.
The company reported net sales of $348.2 million, an increase of $23.8 million, or 7.3% compared to the fiscal 2009 third quarter. The increase was attributable to an increase in same store sales, new store sales and an increase in shipments to franchisees. Consolidated same store sales increased 7.5%. In North America, same store sales increased 9.6% and European 3.9%.
Gross profit percentage increased 100 basis points to 51.9% during the fiscal 2010 third quarter compared to 50.9% during the comparable prior year quarter. Selling, general and administrative expenses increased $7.6 million, or 6.6%, compared to the fiscal 2009 third quarter.
As of October 30, 2010, Claire’s Stores, Inc. operated 2,971 stores in North America and Europe. The Company also franchised or licensed 398 stores in Japan, the Middle East, Turkey, Russia, South Africa, Greece, Guatemala and Malta.
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