Claires Stores 8-K Claire’s Stores, Inc. Reports Fiscal 2015

Exhibit 99.1

NEWS BULLETIN

RE: CLAIRE’S STORES, INC.

2400 WEST CENTRAL ROAD, HOFFMAN ESTATES, ILLINOIS 60192

CLAIRE’S STORES, INC. REPORTS FISCAL 2015

FIRST QUARTER RESULTS

CHICAGO, June 4, 2015. Claire’s Stores, Inc. (the “Company”), one of the world’s leading specialty retailers of fashionable jewelry and accessories for young women, teens, tweens, and kids, today reported its financial results for the fiscal 2015 first quarter, which ended May 2, 2015.

First Quarter Results

The Company reported net sales of $320.0 million for the fiscal 2015 first quarter, a decrease of $33.3 million, or 9.4% compared to the fiscal 2014 first quarter. The decrease was attributable to an unfavorable foreign currency translation effect of our non-U.S. net sales, the effect of store closures and a decrease in same store sales, partially offset by new store sales. Net sales would have decreased 2.8% excluding the impact of foreign currency exchange rate changes.

Consolidated same store sales decreased 2.5%, with North America same store sales decreasing 1.9% and Europe same store sales decreasing 3.6%. Our sales trend has improved since the end of the first quarter, as consolidated second quarter-to-date same store sales are flat. The Company computes same store sales on a local currency basis, which eliminates any impact from changes in foreign currency exchange rates.

Gross profit percentage decreased 110 basis points to 46.0% during the fiscal 2015 first quarter versus 47.1% for the prior year quarter. This reduction in gross profit percentage consisted of a 180 basis point decrease in merchandise margin, partially offset by a 50 basis point decrease in occupancy costs and a 20 basis point decrease in buying and buying-related costs. The decrease in merchandise margin percentage resulted primarily from increased accessories penetration in Europe, higher freight costs and unfavorable foreign currency exchange rates. The decrease in occupancy costs, as a percentage of sales, resulted primarily from the reduction in costs associated with China store closures.

Selling, general and administrative expenses decreased $12.9 million, or 10.3%, compared to the fiscal 2014 first quarter. Excluding a favorable $9.2 million foreign currency translation effect, selling, general, and administrative expenses would have decreased $3.7 million. Of the remainder, the decrease was primarily due to lower store compensation and related expenses.

Adjusted EBITDA in the fiscal 2015 first quarter was $37.6 million compared to $48.1 million last year. Foreign currency exchange rate changes had a negative impact of $3.2 million in the first quarter of 2015. We believe the non-recurring EBITDA impact of the disruption to our supply chain caused by the west coast port issues, including lost sales and increased air freight costs, was approximately $6.0 million. The Company defines Adjusted EBITDA as earnings before income taxes, net interest expense, depreciation and amortization, loss (gain) on early debt extinguishments, and asset impairments. Adjusted EBITDA excludes management fees, severance, the impact of transaction-related costs and certain other non-cash and other items. Net loss for the fiscal 2015 first quarter was $35.4 million. A reconciliation of net loss to Adjusted EBITDA is attached.

As of May 2, 2015, cash and cash equivalents were $22.5 million, including restricted cash of $2.0 million. The Company had $67.5 million drawn on its revolver and an additional $83.1 million of borrowing availability under its Credit Facilities as of that date. The fiscal 2015 first quarter cash balance decrease of $6.9 million consisted of positive impacts of $37.6 million of Adjusted EBITDA and $67.5 million from net borrowings under the Credit Facilities offset by reductions for $78.5 million of cash interest payments, $22.5 million from seasonal working capital uses, $6.3 million of capital expenditures and $4.7 million for tax payments and other items.

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Store Count as of:	May 2, 2015		January 31, 2015		May 3, 2014
North America		1,832		1,837		1,881
Europe		1,151		1,161		1,187
China		—		—		3
Subtotal Company-operated		2,983		2,998		3,071
Franchise		443		442		426
Total global stores		3,426		3,440		3,497
Concession stores		219		130		20

Conference Call Information

The Company will host its first quarter conference call on Friday, June 5, at 10:00 a.m. (Eastern Time). To connect, please dial 888-790-4233 (domestic) or 210-839-8201 (international). The password is “Claires.” An audio replay will be available through July 6, 2015, by dialing 866-491-2909 (domestic) or 203-369-1717 (international). The password is 54291. The conference call will also be webcast and archived until July 6, 2015 on the Company’s corporate website atwww.clairestores.com, where it can be accessed by clicking the “Financial” tab and choosing the “Events” link.

Company Overview

Claire’s Stores, Inc. is one of the world’s leading specialty retailers of fashionable jewelry and accessories for young women, teens, tweens and girls ages 3 to 35. The Company operates through its stores under two brand names: Claire’s^® and Icing^®. As of May 2, 2015, Claire’s Stores, Inc. operated 2,983 stores in 17 countries throughout North America and Europe. The Company also franchised 443 stores in 30 countries primarily located in the Middle East, Central and Southeast Asia and Central and South America. The Company also had 219 concession store locations. More information regarding Claire’s Stores is available on the Company’s corporate website atwww.clairestores.com.

Forward-looking Statements

This press release contains “forward-looking statements” which represent the Company’s expectations or beliefs with respect to future events. Statements that are not historical are considered forward-looking statements. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated. Those factors include, without limitation: our level of indebtedness; general economic conditions; changes in consumer preferences and consumer spending; unwillingness of vendors and service providers to supply goods or services pursuant to historical customary credit arrangements; competition; general political and social conditions such as war, political unrest and terrorism; natural disasters or severe weather events; currency fluctuations and exchange rate adjustments; failure to maintain our favorable brand recognition; failure to successfully market our products through other channels, such as e-commerce; uncertainties generally associated with the specialty retailing business, such as decreases in mall traffic; disruptions in our supply of inventory; inability to increase same store sales; inability to renew, replace or enter into new store leases on favorable terms; increase in our cost of merchandise; significant increases in our merchandise markdowns; inability to grow our company-operated store base, expand our international store base through franchise or similar licensing arrangements or expand our store base through store concessions; inability to design and implement new information systems; data security breaches of confidential information or other cyber attacks; delays in anticipated store openings or renovations; results from any future asset impairment analysis; changes in applicable laws, rules and regulations, including laws and regulations governing the sale of our products, particularly regulations relating to heavy metals and chemical content in our products; changes in anti-bribery laws; changes in employment laws, including laws relating to overtime pay, tax laws and import laws; product recalls; increases in the costs of healthcare for our employees; increases in the cost of labor; labor disputes; loss of key members of management; increases in the cost of borrowings; unavailability of additional debt or equity capital; and the impact of our substantial indebtedness on our operating income and our ability to grow. These and other applicable risks, cautionary statements and factors that could cause actual results to differ from the Company’s forward-looking statements are included in the Company’s filings with the SEC, specifically as described in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2015 filed with the SEC on April 8, 2015. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances. The historical results contained in this press release are not necessarily indicative of the future performance of the Company.

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Additional Information

Other Claire’s Stores, Inc. press releases, a corporate profile and the most recent Form 10-K and Form 10-Q reports are available on Claire’s business website at:www.clairestores.com.

Contact Information

J. Per Brodin, Executive Vice President and Chief Financial Officer

Phone: (847) 765-1100, or E-mail,investor.relations@claires.com

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CLAIRE’S STORES, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS

OF OPERATIONS

(In thousands)

FIRST FISCAL QUARTER

	Three Months Ended May 2, 2015			Three Months Ended May 3, 2014
Net sales	$	319,995		$	353,343
Cost of sales, occupancy and buying expenses (exclusive of depreciation and amortization shown separately below)		172,852			187,070
Gross profit		147,143			166,273
Other expenses:
Selling, general and administrative		113,018			125,958
Depreciation and amortization		14,554			23,464
Severance and transaction-related costs		407			1,582
Other expense (income), net		140			(1,486	)
		128,119			149,518
Operating income		19,024			16,755
Interest expense, net		54,420			54,759
Loss before income tax expense		(35,396	)		(38,004	)
Income tax expense		22			133
Net loss	$	(35,418	)	$	(38,137	)

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CLAIRE’S STORES, INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

	May 2, 2015			January 31, 2015
	(In thousands, except share and per share amounts)
ASSETS
Current assets:
Cash and cash equivalents and restricted cash of $2,016 and $2,029 respectively	$	22,458		$	29,415
Inventories		156,311			145,908
Prepaid expenses		32,660			17,349
Other current assets		27,468			27,474
Total current assets		238,897			220,146
Property and equipment:
Furniture, fixtures and equipment		250,161			248,162
Leasehold improvements		326,088			324,306
		576,249			572,468
Accumulated depreciation and amortization		(375,634	)		(365,036	)
		200,615			207,432
Leased property under capital lease:
Land and building		18,055			18,055
Accumulated depreciation and amortization		(4,739	)		(4,514	)
		13,316			13,541
Goodwill		1,426,899			1,426,899
Intangible assets, net of accumulated amortization of $71,601 and $70,374, respectively		508,096			510,362
Deferred financing costs, net of accumulated amortization of $27,502 and $25,465, respectively		30,398			32,525
Other assets		44,951			45,672
		2,010,344			2,015,458
Total assets	$	2,463,172		$	2,456,577
LIABILITIES AND STOCKHOLDER’S DEFICIT
Current liabilities:
Revolving credit facility	$	67,500		$	—
Trade accounts payable		80,701			69,826
Income taxes payable		508			1,780
Accrued interest payable		42,431			67,790
Accrued expenses and other current liabilities		86,683			93,505
Total current liabilities		277,823			232,901
Long-term debt		2,375,870			2,376,478
Obligation under capital lease		16,897			16,954
Deferred tax liability		113,029			113,215
Deferred rent expense		34,998			35,265
Unfavorable lease obligations and other long-term liabilities		11,929			13,538
		2,552,723			2,555,450
Commitments and contingencies
Stockholder’s deficit:
Common stock par value $0.001 per share; authorized 1,000 shares; issued and outstanding 100 shares		—			—
Additional paid-in capital		618,679			619,325
Accumulated other comprehensive loss, net of tax		(37,234	)		(37,698	)
Accumulated deficit		(948,819	)		(913,401	)
		(367,374	)		(331,774	)
Total liabilities and stockholder’s deficit	$	2,463,172		$	2,456,577

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Net Loss Reconciliation to Adjusted EBITDA

Adjusted EBITDA represents net income (loss), adjusted to exclude income taxes, interest expense and income, depreciation and amortization, loss (gain) on early debt extinguishments, asset impairments, management fees, severance and transaction related costs, and certain non-cash and other items. We use Adjusted EBITDA as an important tool to assess our operating performance. We consider Adjusted EBITDA to be a useful measure in highlighting trends in our business. We reinforce the importance of Adjusted EBITDA with our bonus eligible associates by using this metric in our annual performance bonus program. We believe that Adjusted EBITDA is effective, when used in conjunction with net income (loss), in evaluating asset performance, and differentiating efficient operators in the industry. Furthermore, Adjusted EBITDA is defined in the covenants contained in our debt agreements and it is the metric we use to communicate our financial performance to our debt investors.

Adjusted EBITDA is not a measure of financial performance under GAAP, and is not intended to represent cash flow from operations under GAAP and should not be used as an alternative to net income (loss) as an indicator of operating performance or to represent cash flow from operating, investing or financing activities as a measure of liquidity. We compensate for the limitations of using Adjusted EBITDA by using it only to supplement our GAAP results to provide a more complete understanding of the factors and trends affecting our business. Adjusted EBITDA has its limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP.

Some of the limitations of Adjusted EBITDA are:

• Adjusted EBITDA does not reflect our cash used for capital expenditures;

• Although depreciation and amortization are non-cash charges, the assets being depreciated or amortized often will have to be replaced and Adjusted EBITDA does not reflect the cash requirements for such replacements;

• Adjusted EBITDA does not reflect changes in, or cash requirements for, our working capital requirements; and

• Adjusted EBITDA does not reflect the cash necessary to make payments of interest or principal on our indebtedness.

While Adjusted EBITDA is frequently used as a measure of operations and the ability to meet indebtedness service requirements, it is not necessarily comparable to other similarly titled captions of other companies due to potential inconsistencies in the method of calculation.

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CLAIRE’S STORES, INC. AND SUBSIDIARIES

ADJUSTED EBITDA

(UNAUDITED)

(In Thousands)

	Three Months Ended May 2, 2015			Three Months Ended May 3, 2014
Net loss	$	(35,418	)	$	(38,137	)
Income tax expense (benefit)		22			133
Interest expense		54,424			54,769
Interest income		(4	)		(10	)
Depreciation and amortization		14,554			23,464
Stock compensation, book to cash rent, intangible amortization (a)		(265	)		1,147
Management fee, consulting expense (b)		795			795
Other (c)		3,539			5,961
Adjusted EBITDA	$	37,647		$	48,122

a) Includes: non-cash stock compensation expense, net non-cash rent expense, amortization of rent free periods, the inclusion of cash landlord allowances, and the net accretion of favorable (unfavorable) lease obligations and non-cash amortization of lease rights.

b) Includes: the management fee paid to Apollo Management and Morgan Joseph Tri-Artisan Capital Partners and consulting expenses.

c) Includes: non-cash losses on property and equipment primarily associated with remodels, relocations and closures; other payments associated with store closures; costs, including third party charges, compensation, incurred in conjunction with the relocation of new employees; non-cash foreign exchange gains/losses resulting from intercompany transactions and remeasurements of U.S. dollar denominated cash accounts of our foreign entities into their functional currency; and severance and transaction related costs.

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