Tween/teen-focused US-based accessory and jewelry retailer Claire’s Stores has announced selected preliminary, unaudited financial results for its second quarter, which ended July 31, 2010.
The results show expected net sales of US$334 million for the quarter, an increase of US$20 million, or 6.4%, compared to the same time last year. The growth is attributable to an increase in same-store sales and new-store sales. In North America, same-store sales increased 9% and European same store sales increased 8.7%.
Adjusted EBITDA in the 2010 second quarter is expected to be between US$54 million and US$56 million, compared to US$50.5 million in Q2 2009.
As of July 31, there are 2,955 Claire’s Stores in North America and Europe. During the fiscal 2010 second quarter, Claire’s Stores also operated through its subsidiary, Claire’s Nippon, 207 stores in Japan as a joint venture with Aeon. The Company also franchises 201 stores in the Middle East, Turkey, Russia, South Africa, Poland, Greece, Guatemala and Malta.