Server: Netscape-Enterprise/2.01 Date: Wed, 17 Dec 1997 11:15:50 GMT Accept-ranges: bytes Last-modified: Thu, 17 Apr 1997 15:37:01 GMT Content-length: 4084 Content-type: text/html Claire's Corporate Profile

Corporate Profile

Claire's Stores, Inc.

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CLAIRE'S STORES, INC.
NYSE: CLE

CORPORATE PROFILE

Claire's Stores, Inc., through its wholly owned subsidiary, Claire's Boutiques, Inc., operates the world's largest chain of retail stores specializing in popular-priced costume jewelry and fashion accessories targeting teenagers aged 9-20.


At the end of Fiscal 1997, February 1, 1997, the company owned and operated approximately 1,600 stores. Stores are located in 49 U.S. states, Canada, the Caribbean, Japan and the United Kingdom.



INVESTMENT HIGHLIGHTS

Claire's is strong financially.

Claire's is debt free and has approximately $93 million cash on hand. Free cash flow of approximately $60 million for FY98 is more than sufficient to allow internal financing of expansion.

Claire's is predictably profitable.

Claire's is well managed, with strong inventory and cost controls in place. In the fiscal year just ended, February 1, 1997, Claire's earned $45.1 million, or 95 cents a share. Sales were $440.2 million, up 28% from the previous year. Gross profit margin exceeded 52.7%; net income after taxes was 10.3% of sales. Claire's sales trends have been strong with comparable store sales up 10% from last year. The Fiscal 1997 marked the fourth consecutive year of record sales and profits.

Claire's target customers comprise a growing marketplace.

Claire's fashion merchandise is selected and merchandized primarily to attract fashion conscious teenage girls from 9 to 20 years of age. Demographic experts say teenagers make up by far the fastest growing segment of the population which is growing twice as fast as the rest of the population. Teenagers control more than $100 billion in disposable income.

Claire's stores are in the right locations.

Most of Claire's stores are in enclosed, regional malls, still the country's premier shopping locations, particularly for the youthful customers that Claire's targets. For them, the mall is a gathering place, a "cool" social center.

Claire's Stores is growing steadily, domestically and internationally.

At the end of Fiscal 1997 (February 1, 1997) the company owned and operated approximately 1600 stores, in the United States, Canada, the Caribbean, Puerto Rico, Japan and the United Kingdom. The company expects to open 175-200 stores during Fiscal 1998 (25 in Japan, 35 in United Kingdom and the remainder in the North America). In addition, the company is exploring additional acquisition possibilities and further opportunities for expansion into Europe which will be additive to earnings within the first year of operations.



3 S.W. 129 Avenue
Pembroke Pines, Florida 33027
Phone: 954-433-3900
Fax: 954-433-3999

P.O. Box 9312
Miami, Florida 33014-9312



 

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