Jewelry retailer Claire posted profit
Moldova.org
Claire’s Stores Inc., a jewelry and accessories retailer, posted a 1 percent increase in quarterly profit as cost controls and modest sales growth at North American stores more than offset weak European demand. For the current period, the company forecast earnings below Wall Street’s expectations, saying sales growth had moderated after several years of expansion and that it would remain conservative until those trends reversed.
Net income rose to $36 million, or 37 cents per share, in the second quarter that ended on July 29, from $35.5 million, or 36 cents per share, a year earlier.
Analysts on average expected earnings of 36 cents per share, according to Reuters Estimates.
Quarterly sales rose 7 percent to $349.2 million. Sales at stores open at least a year — a key retail measure known as same-store sales — increased 2 percent.
