Claire’s reports full-year sales growth

Jewellery brand Claire’s has reported a 53 percent year-on-year growth in sales in its unaudited preliminary results for the 2021 fiscal year.

Net sales at the company are expected to reach 1.395 billion dollars, which is also 9 percent higher than fiscal year 2019 levels.

Global same store sales grew 18 percent year-over-year, with North America up 27 percent, led by strong ear piercing. Europe, meanwhile, was down 2 percent, due to the impact of Covid-19 restrictions and closures.

Compared to pre-pandemic 2019 levels, global same store sales were up 11 percent, North America was up 19 percent, and Europe was down 7 percent.

The company expects adjusted EBITDA of between 273 million dollars and 277 million dollars.

Claire’s CEO Ryan Ver said he was “extremely pleased” with the company’s sales growth and EBITDA.

“This was a transformative year for Claire’s and we are thrilled with the progress we are making in the business aligned with our strategic initiatives to grow our concessions business, diversify our retail footprint, and enhance our customer experience,” Ver said.