Claire's stores see another net loss in Q2

By

Jennifer Braun

Published
Sep 1, 2017

Similarly to many other struggling retailers, specialty retailer Claire’s Stores Inc. is still in the red following a lacklustre second quarter.
 
Despite strong consolidated same store sales, partially offset by the effect of store closures, the company reported a net loss of $20.5 million for the quarter ended July 29, 2017.
 

Once again, Claire's market overseas seems to be the most promising. In North America, consolidated same store sales increased 2.6 percent, while in Europe they jumped 3.2 percent.
 
Meanwhile, the specialty retailer of fashionable jewelry and accessories reported net sales of $316.6 million for the quarter, down 0.2 percent compared to the fiscal 2016 second quarter. 

Adjusted EBITDA in the fiscal 2017 second quarter was $47.4 million, an increase of $10.1 million, or 27.1 percent compared to the fiscal 2016 second quarter. 
 
Claire's Stores currently operate 2,660 stores in 17 countries throughout North America and Europe, excluding 860 concession locations. The company operates through its stores under two brand names: Claire's and Icing.