USA: Claire's Stores Q4 Net Income Rises To $52m
The Florida-based company, which operates about 2810 stores worldwide, said the result included a non-recurring after-tax charge of $5.7m associated with the retirement package of chairman emeritus Rowland Schaefer.
For the fourth quarter, the company also posted a 13 per cent rise in net sales to $364m, up from $322.4m in the same period a year ago, while same-store sales increased seven per cent.
According to co-CEO Marl Schaefer, the company's improved performance was primarily due to same-store sales growth and the subsequent leverage of fixed costs.
"Despite all the uncertainty surrounding the state of the economy and consumer confidence, our business remained healthy throughout the fourth quarter," she said.
"Business ramped up for the holidays and remained brisk in the post-holiday season."
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