June 15, 2018<\/span><\/p>\n Net sales for the first quarter ended May 5, 2018 totaled $311.0 million, an increase of $11.4 million, or 3.8%, compared to the $299.6 million reported in Q1 2017. This rise was, however, due in large part to the positive effect of favorable foreign currency conversion rates, without which net sales would have fallen 1% over the period, reflecting increases in sales at the company\u2019s new concessions and company-operated stores, offset by store closures and decreasing same-store sales.<\/span> This combined with $25 million in interest expenses meant that while the company\u2019s operating income totaled over\u00a0$20 million in the quarter, its\u00a0net loss for the period came to $11.6 million, compared to a loss of $6.8 million in Q1 2017.<\/span> Claire’s Stores intends to continue business as usual in its retail locations during the restructuring process.<\/span><\/p>\n<\/div>\n Courtesy of \u00a9 2018 FashionNetwork.com<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Claire’s Stores losses deepen as Chapter 11 restructuring kicks off June 15, 2018 Net sales for the first quarter ended May 5, 2018 totaled $311.0 million, an increase of $11.4 million, or 3.8%, compared to the $299.6 million reported in Q1 2017. This rise was, however, due in large part to the positive effect of…<\/p>\n","protected":false},"author":1,"featured_media":9286,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"translation":{"provider":"WPGlobus","version":"2.10.7","language":"es","enabled_languages":["en","es","de","fr","ru"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"es":{"title":false,"content":false,"excerpt":false},"de":{"title":false,"content":false,"excerpt":false},"fr":{"title":false,"content":false,"excerpt":false},"ru":{"title":false,"content":false,"excerpt":false}}},"_links":{"self":[{"href":"http:\/\/www.garmento.net\/es\/wp-json\/wp\/v2\/posts\/9232"}],"collection":[{"href":"http:\/\/www.garmento.net\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.garmento.net\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.garmento.net\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.garmento.net\/es\/wp-json\/wp\/v2\/comments?post=9232"}],"version-history":[{"count":2,"href":"http:\/\/www.garmento.net\/es\/wp-json\/wp\/v2\/posts\/9232\/revisions"}],"predecessor-version":[{"id":9285,"href":"http:\/\/www.garmento.net\/es\/wp-json\/wp\/v2\/posts\/9232\/revisions\/9285"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.garmento.net\/es\/wp-json\/wp\/v2\/media\/9286"}],"wp:attachment":[{"href":"http:\/\/www.garmento.net\/es\/wp-json\/wp\/v2\/media?parent=9232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.garmento.net\/es\/wp-json\/wp\/v2\/categories?post=9232"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.garmento.net\/es\/wp-json\/wp\/v2\/tags?post=9232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u00a0<\/span>
\nIndeed, while same-store sales in North America rose 5.4% in Q1, overall consolidated same-store sales fell 0.4%, dragged down by a decrease of 9.9% in Europe.<\/span>
\n\u00a0<\/span>
\nClaire\u2019s Stores filed for Chapter 11 bankruptcy on March 19, 2018<\/a>\u00a0and work is currently underway to eliminate a large portion of the company\u2019s considerable debt, a process which implied some $10 million in restructuring expenses over the course of the first quarter and affected the retailer\u2019s results for the period accordingly.<\/span><\/p>\n
\n\u00a0\u00a0<\/span>
\nAs of May 5, 2018, Claire\u2019s is present in a total of 3,248 company-operated stores and franchise locations in North America and Europe, compared to 3,316 stores at the end of fiscal 2017. The company did, however, add thousands of new concessions stores in Q1 and currently operates\u00a05,230, compared to\u00a0970 concessions at the beginning of the quarter.\u00a0\u00a0<\/span><\/p>\n