Claire's Stores Inc. Feb 11
Standard & Poors, February 2011
Abstract
Solid market position and strong brand recognition; and Good geographic diversity. Highly competitive and extremely fragmented market; Industry is subject to significant cyclicality; and Highly leveraged capital structure and weak cash flow protection measures. The ratings on Claire's Stores Inc., a specialty retailer of value-priced jewelry and fashion accessories for preteens, teenagers, and young adults, reflect improving performance trends over the past year as well as Standard & Poor's Ratings Services' expectations for continued growth over the near term. Although the company has demonstrated enhanced credit protection metrics year over year, it remains highly leveraged with thin cash flow protection measures. The company's weak business profile reflects its participation in the competitive, fragmented, and cyclical fashion accessory industry. Claire's faces...
Companies mentioned in this report are: Claire's Stores Inc.
Action: Review
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: Full Analysis
Claire's Stores Inc.
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