Claire's Stores blamed currency exchange rates and store closures for its decrease in revenue in the fourth quarter.
The specialty retailer said that for the period ended Jan. 30, net
sales were $402.6 million, a decrease of $9.8 million, or 2.4% compared
to the fiscal 2014 fourth quarter. The company said the decrease was
attributable to an unfavorable foreign currency translation effect of
non-U.S. net sales, the effect of store closures, decreased shipments to
franchisees and a 0.2% decrease in same-store sales.. . . more