CLAIRE’S STORES REPORT 5% SALES SLIP IN FOURTH QUARTER

In Retail News, What's New by Christine Galasso

Claire’s Stores reported this week that its fourth quarter sales fell by $20.1 million, about 5%, to $382.5 million. Overall same-store sales also tanked by 1%, with a 2.3% decrease in North American evened out by a 1.3% gain throughout Europe.

In a release, the company attributed those losses to the effect of store closures, a decrease in same store sales, an unfavorable foreign currency translation that effects of non-U.S. net sales and decreased shipments to franchisees, partially offset by new concession store sales and new store sales.

The same report included sales for the full fiscal 2016 year, with net sales ringing at $1.3 billion, down a whopping $91.5 million, or 6.5%.

The fashion jewelry and accessories retailer operates through its stores under two brand names, Claire’s® and Icing®. The company currently operates 2,710 stores in 17 countries throughout North America and Europe, with an additional 933 concession store locations.