Claire’s sees European sales dip
Strike in France hits accessories retailer
August 22 2003
Accessories retailer Claire’s saw its European like-for-like sales fall in the quarter to August 4 as a result of the heatwave across much of the region, as well as strike action in France.
The US-based retailer, which has more than 670 stores in Europe from a worldwide total of 2800, said it had seen a like-for-like sales decline in the low single digits throughout its European stores.
Thanks to a stronger performance in the US and other territories, total sales increased 11 per cent to $264.9m. with total like-for-like sales up five per cent.
Bonnie Schaefer, Claire’s acting co-chairman and Co-CEO said: “Claire’s North America and Icing by Claire’s each generated positive same store sales results that were in line with our internal projections. The shortfall, and negative same stores sales results, experienced in Europe are attributable to a number of unusual events, some of which were not foreseeable.
“Strikes in France and an extraordinary heat wave across Europe negatively impacted store traffic, with France being the most severely affected. Inventory issues in France have been addressed and fresh merchandise is now flowing into the stores.”
