Thursday, March 31, 2016

Sales at Claire's fall in Q4

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

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