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Bulletin: Claire's Stores Inc. Ratings Unaffected By Announcement Of CEO Resignation Jan 12
Standard & Poors, Jan 2012
Abstract
New York (Standard & Poor's) Jan. 6, 2011-Standard & Poor's Rating Services said today that Hoffman Estates, Ill.-based Claire's Stores Inc.'s announcement that the CEO has resigned will have no immediate effect on the company's ratings or outlook. The President of Claire's Stores and President of Claire's North American Division will manage the CEO responsibilities until a replacement is found. The company's announcement that November and December same-store sales increased 1.5% on a combined basis, consisting of a 3.9% increase in North America and 3.0% decrease in Europe, is in line with our expectations. Although performance has been relatively stable over the past year, we anticipate it may trend slightly negative over the near term. In our view, this is...
Companies mentioned in this report are: Claire's Stores Inc.
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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