USA: Claire's Stores Inc. Reports May Sales Up 35%
Claire's Stores, Inc. (NYSE: CLE) reported today sales for the four weeks ended May 27, increased 35% to $73,171,000 compared with $54,102,000 reported for the four weeks ended May 29, 1999. Same store sales declined 2 percent for the month on a consolidated basis. The fashion accessory division decreased 3 percent and Mr. Rags increased 5 percent on a same store sales basis. Rowland Schaefer, Chairman and Chief Executive Officer of Claire's, said "Same store sales for the month of May were within our expectations and we continue to see strength in our summer departments." Pursuant to the $50 million stock repurchase program authorized on May 3, 2000 by the Company's Board of Directors, the Company has purchased approximately 750,000 shares of the Company's common stock at an average price of $19.16 per share. Claire's Stores, Inc. (Monthly Sales in 000's)
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