Claires Stores 10-Q 9 Jun 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Apr. 29, 2017	Jun. 01, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Apr. 29, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	CLE
Entity Registrant Name	CLAIRES STORES INC
Entity Central Index Key	34,115
Current Fiscal Year End Date	--02-03
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		100

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 29, 2017	Jan. 28, 2017
Current assets:
Cash and cash equivalents	$ 25,737	$ 55,792
Inventories	140,938	130,239
Prepaid expenses	16,924	14,642
Other current assets	26,809	25,270
Total current assets	210,408	225,943
Property and equipment:
Furniture, fixtures and equipment	220,369	218,804
Leasehold improvements	297,681	297,636
Total property and equipment, gross	518,050	516,440
Accumulated depreciation and amortization	(389,476)	(381,975)
Total property and equipment, net	128,574	134,465
Leased property under capital lease:
Land and building	18,055	18,055
Accumulated depreciation and amortization	(6,539)	(6,313)
Total leased property under capital lease	11,516	11,742
Goodwill	1,132,575	1,132,575
Intangible assets, net of accumulated amortization of $81,640 and $80,502, respectively	454,331	454,956
Other assets	41,052	40,525
Total other noncurrent assets	1,627,958	1,628,056
Total assets	1,978,456	2,000,206
Current liabilities:
Current portion of long-term debt, net		18,405
Trade accounts payable	69,726	69,731
Income taxes payable	5,353	6,083
Accrued interest payable	24,003	53,266
Accrued expenses and other current liabilities	78,351	87,146
Total current liabilities	177,433	234,631
Long-term debt, net	2,115,167	2,118,653
Revolving credit facility, net	57,043	3,925
Obligation under capital lease	16,289	16,388
Deferred tax liability	91,900	99,255
Deferred rent expense	33,917	34,300
Unfavorable lease obligations and other long-term liabilities	8,800	10,376
Total Non current liabilities	2,323,116	2,282,897
Commitments and contingencies
Stockholder's deficit:
Common stock par value $0.001 per share; authorized 1,000 shares; issued and outstanding 100 shares	0	0
Additional paid-in capital	630,558	630,496
Accumulated other comprehensive loss, net of tax	(49,956)	(51,881)
Accumulated deficit	(1,102,695)	(1,095,937)
Total stockholder's deficit	(522,093)	(517,322)
Total liabilities and stockholder's deficit	$ 1,978,456	$ 2,000,206

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Apr. 29, 2017	Jan. 28, 2017
Accumulated amortization on intangible assets	$ 81,640	$ 80,502
Common stock, par value	$ 0.001	$ 0.001
Common stock, share authorized	1,000	1,000
Common stock, share issued	100	100
Common stock, share outstanding	100	100

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Apr. 29, 2017		Apr. 30, 2016
Net sales	$ 299,621		$ 299,647
Cost of sales, occupancy and buying expenses (exclusive of depreciation and amortization shown separately below)	151,788		158,353
Gross profit	147,833		141,294
Other expenses:
Selling, general and administrative	110,512		107,722
Depreciation and amortization	11,203		14,060
Severance and transaction-related costs	143		1,573
Other (income) expense, net	(2,701)		2,945
Total other expenses	119,157		126,300
Operating income	28,676		14,994
Interest expense, net	43,580		55,079
Loss before income tax benefit	(14,904)		(40,085)
Income tax benefit	(8,146)		(1,327)
Net income (loss)	(6,758)		(38,758)
Other comprehensive income:
Foreign currency translation adjustments	44		2,860
Net gain on intra-entity foreign currency transactions, net of tax expense of $229 and $525	1,881		10,195
Other comprehensive income	1,925	[1]	13,055
Comprehensive loss	$ (4,833)		$ (25,703)
[1]	Represents foreign currency items and $5.7 million of other income associated with expired derivative instruments

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016
Tax related to net gain on intra-entity foreign currency transactions	$ 229	$ 525

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016
Cash flows from operating activities:
Net loss	$ (6,758)	$ (38,758)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	11,203	14,060
Amortization of lease rights and other assets	1,069	658
Amortization of debt issuance costs	2,187	2,102
Accretion of debt premium	(721)	(662)
Net unfavorable accretion of lease obligations	(64)	(62)
Loss on sale/retirement of property and equipment, net	118	102
Stock-based compensation expense (benefit)	62	(33)
(Increase) decrease in:
Inventories	(9,694)	(7,187)
Prepaid expenses	(1,371)	(14,220)
Other assets	(1,434)	(1,478)
Increase (decrease) in:
Trade accounts payable	(1,069)	1,134
Income taxes payable	(962)	(1,009)
Accrued interest payable	(29,263)	(25,322)
Accrued expenses and other liabilities	(10,834)	(15,153)
Deferred income taxes	(7,597)	(355)
Deferred rent expense	(525)	(611)
Net cash provided by (used in) operating activities	(55,653)	(86,794)
Cash flows from investing activities:
Acquisition of property and equipment	(3,365)	(4,215)
Acquisition of intangible assets/lease rights	(28)	(91)
Net cash used in investing activities	(3,393)	(4,306)
Cash flows from financing activities:
Proceeds from revolving credit facilities	69,000	116,864
Payments on revolving credit facilities	(16,200)
Payments on short-term debt	(18,420)
Payments on long-term debt	(4,272)
Payment of debt issuance costs	(347)	(44)
Principal payments on capital lease	(76)	(58)
Net cash provided by (used in) financing activities	29,685	116,762
Effect of foreign currency exchange rate changes on cash and cash equivalents	(694)	4,355
Net increase (decrease) in cash and cash equivalents	(30,055)	30,017
Cash and cash equivalents, at beginning of period	55,792	18,871
Cash and cash equivalents, at end of period	25,737	48,888
Supplemental disclosure of cash flow information:
Interest paid	71,159	78,940
Income taxes paid	$ 1,642	$ 1,132

Basis of Presentation

Basis of Presentation	3 Months Ended
	Apr. 29, 2017
Basis of Presentation	1. Basis of Presentation The accompanying Unaudited Condensed Consolidated Financial Statements of Claire’s Stores, Inc. (the “Company”) have been prepared in accordance with the instructions to Form 10-Q 10-K The Unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America, which require management to make certain estimates and assumptions about future events. These estimates and the underlying assumptions affect the amounts of assets and liabilities reported, disclosures regarding contingent assets and liabilities and reported amounts of revenues and expenses. Such estimates include, but are not limited to, the value of inventories, goodwill, intangible assets and other long-lived assets, legal contingencies and assumptions used in the calculation of income taxes, stock-based compensation, residual values and other items. These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, which management believes to be reasonable under the circumstances. Management adjusts such estimates and assumptions when facts and circumstances dictate. Illiquid credit markets, volatile equity, foreign currency, and energy markets and declines in consumer spending have combined to increase the uncertainty inherent in such estimates and assumptions. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates. Changes in those estimates will be reflected in the financial statements in those future periods when the changes occur. Due to the seasonal nature of the retail industry and the Company’s business, the results of operations for interim periods of the year are not necessarily indicative of the results of operations for future quarters or on an annualized basis.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Apr. 29, 2017
Recent Accounting Pronouncements	2. Recent Accounting Pronouncements In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2017-04, Simplifying the Test for Goodwill Impairment one-step two-step 2017-04 In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory In August 26, 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (a consensus of the Emerging Issues Task Force) 2016-15 In March 2016, FASB issued ASU 2016-09, Compensation—Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, In March 2016, the FASB issued ASU 2016-04, Liabilities—Extinguishments of Liabilities (Subtopic 405-20), 2016-04 In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) right-of-use In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers No. 2015-14, Deferral of the Effective Date 2014-09 No. 2016-08, Principal versus Agent Considerations (Reporting Revenue Gross versus Net) 2014-09,

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Apr. 29, 2017
Fair Value Measurements	3. Fair Value Measurements ASC 820, Fair Value Measurement Disclosures, Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company does not have any assets (liabilities) measured at fair value on a recurring basis. Non-Financial Non-Recurring The Company’s non-financial non-financial non-financial Financial Instruments Not Measured at Fair Value The Company’s financial instruments consist primarily of cash and cash equivalents, accounts receivable, current liabilities and long-term debt. Cash and cash equivalents, accounts receivable and current liabilities approximate fair market value due to the relatively short maturity of these financial instruments. The Company considers all investments with a maturity of three months or less when acquired to be cash equivalents. The Company’s cash equivalent instruments are valued using quoted market prices and are primarily U.S. Treasury securities. The revolving credit facilities approximate fair value due to the variable component of the interest rate. Excluding unamortized debt issuance costs, the estimated fair value of the Company’s long-term debt was approximately $1.04 billion as of April 29, 2017, compared to a carrying value of $2.13 billion at that date. Excluding unamortized debt issuance costs, the estimated fair value of the Company’s long-term debt (including current portion) was approximately $1.09 billion as of January 28, 2017, compared to a carrying value of $2.15 billion at that date. For publicly-traded debt, the fair value (estimated market value) is based on quoted market prices in less active markets. For non-publicly

Debt

Debt	3 Months Ended
	Apr. 29, 2017
Debt	4. Debt Debt as of April 29, 2017 and January 28, 2017 included the following components (in thousands): April 29, 2017 January 28, 2017 Current portion of long-term debt: 10.5% Senior subordinated notes due 2017 $ — $ 18,420 Unamortized debt issuance cost — (15 ) Total current portion of long-term debt, net $ — $ 18,405 Long-term debt: Claire’s Gibraltar unsecured term loan due 2019 $ 40,000 $ 40,000 Claire’s Gibraltar Intermediate secured term loan due 2019 50,000 50,000 9.0% Senior secured first lien notes due 2019 (1) 1,130,898 1,131,619 8.875% Senior secured second lien notes due 2019 222,300 222,300 6.125% Senior secured first lien notes due 2020 210,000 210,000 7.75% Senior notes due 2020 216,742 216,742 9.0% Claire’s Stores term loan due 2021 30,933 30,933 9.0% CLSIP term loan due 2021 100,525 100,525 9.0% Claire’s Gibraltar term loans due 2021 46,394 46,394 Adjustment to carrying value 82,024 86,296 Unamortized debt issuance cost (14,649 ) (16,156 ) Total long-term debt, net $ 2,115,167 $ 2,118,653 Revolving credit facility: U.S. asset based lending credit facility due 2019 $ 59,000 $ 6,200 Unamortized debt issuance cost (1,957 ) (2,275 ) Total revolving credit facility, net $ 57,043 $ 3,925 Obligation under capital lease (including current portion) $ 16,635 $ 16,712 (1) Amount includes unamortized premium of $5,898 and $6,619 as of April 29, 2017 and January 28, 2017, respectively. 10.50% Senior Subordinated Notes In March 2017, the Company paid an aggregate principal amount of $18.4 million and, in addition, the related accrued interest associated with the extinguishment of the 10.50% Senior Subordinated Notes due 2017 (the “Senior Subordinated Notes”). As a result, the Company discharged all obligations with respect to the Company’s remaining outstanding 10.50% Senior Subordinated Notes due 2017. ABL Credit Facility On September 20, 2016, the ABL Credit Facility, dated as of August 12, 2016, among the Company, Claire’s Inc., the parent of the Company (“Parent”), the lenders party thereto and Credit Suisse AG, Cayman Islands Branch, as Administrative Agent (the “ABL Credit Facility”) became effective. The ABL Credit Facility matures on February 4, 2019 and provides for revolving credit loans, subject to borrowing base availability, in an amount up to $75.0 million less any amounts outstanding under the U.S. Credit Facility (as defined below). Borrowings under the ABL Credit Facility bear interest at a rate equal to, at the Company’s option, either (a) an alternate base rate determined by reference to the higher of (1) the prime rate in effect on such day, (2) the federal funds effective rate plus 0.50% and (3) the one-month All obligations under the ABL Credit Facility are unconditionally guaranteed by (i) Parent, prior to an initial public offering of the Company’s stock, and (ii) the Company’s existing and future direct or indirect wholly-owned domestic subsidiaries, subject to certain exceptions (including CLSIP LLC and CLSIP Holdings LLC). All obligations under the ABL Credit Facility, and the guarantees of those obligations, are secured, subject to certain exceptions and permitted liens, by (i) a first-priority security interest in the ABL Priority Collateral (as defined therein) and (ii) a second-priority security interest in the Notes Priority Collateral (as defined therein). The ABL Credit Facility contains customary provisions relating to mandatory prepayments, voluntary payments, payment of dividends, affirmative and negative covenants, and events of default; however, it does not contain any covenants that require the Company to maintain any particular financial ratio or other measure of financial performance. As of April 29, 2017, we had $59.0 million of borrowings, which together with the $4.0 million of letters of credit outstanding, reduces the borrowing availability to $12.0 million. U.S. Revolving Credit Facility On September 20, 2016, the Second Amended and Restated Credit Facility, dated as of August 12, 2016, among the Company, Parent, the lenders party thereto and Credit Suisse AG, Cayman Islands Branch, as Administrative Agent (the “U.S. Credit Facility”) became effective. Pursuant to the U.S. Credit Facility, among other things, the availability under the U.S. Credit Facility reduced from $115.0 million to an amount equal to $75.0 million less any amounts outstanding under the ABL Credit Facility, the maturity was extended to February 4, 2019 and certain covenants were modified. Borrowings under the U.S. Credit Facility bear interest at a rate equal to, at the Company’s option, either (a) an alternate base rate determined by reference to the higher of (1) the prime rate in effect on such day, (2) the federal funds effective rate plus 0.50% and (3) the one-month All obligations under the U.S. Credit Facility are unconditionally guaranteed by (i) Parent, prior to an initial public offering of the Company’s stock, and (ii) the Company’s existing and future direct or indirect wholly-owned domestic subsidiaries, subject to certain exceptions (including CLSIP LLC and CLSIP Holdings LLC). All obligations under the U.S. Credit Facility, and the guarantees of those obligations, are secured, subject to certain exceptions and permitted liens, on a pari passu The U.S. Credit Facility contains customary provisions relating to mandatory prepayments, voluntary payments, payment of dividends, affirmative and negative covenants, and events of default; however, it does not contain any covenants that require the Company to maintain any particular financial ratio or other measure of financial performance except that so long as borrowings and letters of credit outstanding under the U.S. Credit Facility exceed $15 million, the Company is required to maintain, at each borrowing date measured at the end of the prior fiscal quarter (but reflecting borrowings and repayments under the U.S. Credit Facility through the measurement date) and at the end of each fiscal quarter, a maximum Total Net Secured Leverage Ratio of, for the fiscal quarters prior to the first fiscal quarter of 2018, 8.95:1.00, and for the fiscal quarters including and after the first fiscal quarter of 2018, 8.00:1.00, based upon the ratio of the Company’s net senior secured first lien debt to adjusted earnings before interest, taxes, depreciation and amortization for the period of four consecutive fiscal quarters most recently ended. As of April 29, 2017, no borrowings were outstanding under the U.S. Credit Facility other than amounts outstanding under the ABL Credit Facility. Debt Covenants The Company’s debt agreements contain certain covenants that, among other things, subject to certain exceptions and other basket amounts, restrict our ability and the ability of our subsidiaries to: • incur additional indebtedness; • pay dividends or distributions on our capital stock, repurchase or retire our capital stock and redeem, repurchase or defease any subordinated indebtedness; • make certain investments; • create or incur certain liens; • create restrictions on the payment of dividends or other distributions to us from the Company’s subsidiaries; • transfer or sell assets; • engage in certain transactions with its affiliates; and • merge or consolidate with other companies or transfer all or substantially all of its assets. Certain of these covenants in the indentures governing the 9.0% Senior Secured First Lien Notes due 2019 (the “9.0% Senior Secured First Lien Notes”), 6.125% Senior Secured First Lien Notes due 2020 (the “6.125% Senior Secured First Lien Notes” and collectively with the 9.0% Senior Secured First Lien Notes, the “Senior Secured First Lien Notes”), the 8.765% Senior Secured Second Lien Notes due 2019 (the “Second Lien Notes”), and the 7.750% Senior Notes due 2020 (the “Unsecured Notes”) (collectively, the “Notes”), such as limitations on the Company’s ability to make certain payments such as dividends, or incur debt, will no longer apply if the Notes have investment grade ratings from both of the rating agencies of Moody’s Investor Services, Inc. (“Moody’s”) and Standard & Poor’s Ratings Group (“S&P”) and no event of default has occurred. Since the date of issuance of the Notes, the Notes have not received investment grade ratings from Moody’s or S&P. Accordingly, all of the covenants under the Notes currently apply to the Company. None of the covenants under the Notes, however, require the Company to maintain any particular financial ratio or other measure of financial performance. See Note 3 – Fair Value Measurements for related fair value disclosure on debt. Europe Credit Agreement The Europe Credit Agreement provides for a $50.0 million aggregate principal amount secured term loan that was made on January 5, 2017 and will mature on January 31, 2019. Interest accrues at 15% per annum during the first year (with 3% pay-in-kind) The Europe Credit Agreement contains customary affirmative and negative covenants applicable to the Loan Parties, events of default and provisions relating to mandatory and voluntary payments. These covenants restrict the Loan Parties’ ability to incur indebtedness, grant liens and make investments, subject to the exceptions and conditions set forth therein. Claire’s Gibraltar Intermediate is also restricted from making foreign cash transfers to the Company and its subsidiaries, subject to compliance with a leverage ratio test and to certain exceptions. Additionally, the Loan Parties must maintain specified minimum balances of cash and cash equivalents, measured as of the last day of any fiscal month, specified minimum collateral values, measured as of the last day of any fiscal quarter, and specified levels of Consolidated Total Assets and EBITDA, measured as of the last day of any fiscal quarter. As of April 29, 2017, the Company was in compliance with all covenants. Europe Bank Credit Facilities The Company’s non-U.S.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Apr. 29, 2017
Commitments and Contingencies	5. Commitments and Contingencies The Company is, from time to time, involved in litigation incidental to the conduct of its business, including personal injury litigation, litigation regarding merchandise sold, including product and safety concerns regarding heavy metal and chemical content in merchandise, litigation with respect to various employment matters, including litigation with present and former employees, wage and hour litigation and litigation regarding intellectual property rights. The Company believes that current pending litigation will not have a material adverse effect on its consolidated financial position, results of operations or cash flows.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Apr. 29, 2017
Accumulated Other Comprehensive Income (Loss)	6. Accumulated Other Comprehensive Income (Loss) The following summary sets forth the components of accumulated other comprehensive income (loss), net of tax as follows (in thousands, net of tax): Total (1) Balance as of January 28, 2017 $ (51,881 ) Other comprehensive income 1,925 Balance as of April 29, 2017 $ (49,956 ) (1) Represents foreign currency items and $5.7 million of other income associated with expired derivative instruments

Stock Options and Stock-Based C

Stock Options and Stock-Based Compensation	3 Months Ended
	Apr. 29, 2017
Stock Options and Stock-Based Compensation	7. Stock Options and Stock-Based Compensation The following is a summary of activity in the Company’s stock option plan for the three months ended April 29, 2017: Weighted- Weighted- Average Average Remaining Number of Exercise Contractual Shares Price Term (Years) Outstanding as of January 28, 2017 3,125,062 $ 5.67 Options granted 1,200 $ 1.25 Options exercised — Options forfeited (8,475 ) $ 7.34 Options expired (4,712 ) $ 10.00 Outstanding as of April 29, 2017 3,113,075 $ 5.66 4.5 Options vested and expected to vest as of April 29, 2017 2,926,746 $ 5.81 4.4 Exercisable as of April 29, 2017 1,352,212 $ 8.22 3.4 The weighted average grant date fair value of options granted during the three months ended April 29, 2017 and April 30, 2016 was $0.41 and $0.50, respectively. Stock-based compensation benefit is recorded in “Selling, general and administrative” expenses in the accompanying Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss.

Income Taxes

Income Taxes	3 Months Ended
	Apr. 29, 2017
Income Taxes	8. Income Taxes The effective income tax rate was 54.7% for the three months ended April 29, 2017. This effective income tax rate differed from the statutory federal income tax rate of 35% primarily from U.S. income recognition of foreign deemed dividend distributions and foreign tax rate differentials as compared to the U.S. statutory rate The effective income tax rate was 3.3% for the three months ended April 30, 2016. This effective income tax rate differed from the statutory federal income tax rate of 35% primarily from foreign tax rate differentials as compared to the U.S. statutory rate.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Apr. 29, 2017
Related Party Transactions	9. Related Party Transactions The Company, Parent, and affiliates have purchased and may, from time to time, purchase portions of the Company’s indebtedness. All of these purchases have been open market transactions and any interest payments to Parent or affiliates made thereon are paid in accordance with the associated indenture. As of April 29, 2017 and January 28, 2017, Parent and affiliates held $60.6 million, respectively, of the Company’s indebtedness. For the three months ended April 29, 2017 and April 30, 2016, the Company recognized interest expense related to the indebtedness held by Parent and affiliates of $0.0 million and $6.1 million, respectively. Interest on the debt held as of April 29, 2017 is payable in kind.

Segment Information

Segment Information	3 Months Ended
	Apr. 29, 2017
Segment Information	10. Segment Information The Company is organized based on the geographic markets in which it operates. Under this structure, the Company currently has two reportable segments: North America and Europe. The Company accounts for the goods it sells to third parties under franchising and licensing agreements within “Net sales” and “Cost of sales, occupancy and buying expenses” in the Company’s Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss within its North America segment. The franchise fees the Company charges under the franchising agreements are reported in “Other (income) expense, net” in the accompanying Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss within its Europe segment. Substantially all of the interest expense on the Company’s outstanding debt is recorded in the Company’s North America segment. Net sales, depreciation and amortization and operating income for the three months ended April 29, 2017 and April 30, 2016 are as follows (in thousands): Three Months Three Months Ended Ended April 29, 2017 April 30, 2016 Net sales: North America $ 195,960 $ 199,306 Europe 103,661 100,341 Total net sales 299,621 299,647 Depreciation and amortization: North America 7,102 9,095 Europe 4,101 4,965 Total depreciation and amortization 11,203 14,060 Operating income (loss) for reportable segments: North America 25,710 24,571 Europe 3,109 (8,004 ) Total operating income for reportable segments 28,819 16,567 Severance and transaction-related costs 143 1,573 Consolidated operating income 28,676 14,994 Interest expense, net 43,580 55,079 Consolidated loss before income tax benefit $ (14,904 ) $ (40,085 ) Excluded from operating income for the North America segment are severance and transaction-related costs of approximately $0.0 million and $1.3 million for the three months ended April 29, 2017 and April 30, 2016, respectively. Excluded from operating loss for the Europe segment are severance and transaction-related costs of approximately $0.1 million and $0.3 million for the three months ended April 29, 2017 and April 30, 2016, respectively.

Supplemental Financial Informat

Supplemental Financial Information	3 Months Ended
	Apr. 29, 2017
Supplemental Financial Information	11. Supplemental Financial Information On March 4, 2011, Claire’s Stores, Inc. (referred to in this Note 11 as the “Issuer”), issued the Second Lien Notes. On February 28, 2012, March 12, 2012 and September 20, 2012, the Issuer issued the 9.0% Senior Secured First Lien Notes. On March 15, 2013, the Issuer issued the 6.125% Senior Secured First Lien Notes and on May 14, 2013, the Issuer issued the Unsecured Notes. The Second Lien Notes are irrevocably and unconditionally guaranteed, jointly and severally, by all wholly-owned domestic current and future subsidiaries of Claire’s Stores, Inc. that guarantee the Company’s ABL Credit Facility and U.S. Credit Facility. The First Lien Notes are unconditionally guaranteed, jointly and severally, by all wholly-owned domestic current and future subsidiaries of Claire’s Stores, Inc. (subject to certain exceptions including CLSIP LLC and CLSIP Holdings LLC). As of April 29, 2017, Claire’s Stores, Inc. owned 100% of its domestic subsidiaries that guarantee the Notes. All guarantors are collectively referred to as the “Guarantors.” The Company’s other subsidiaries, principally its international subsidiaries including its European, Canadian and Asian subsidiaries (the “Non-Guarantors”), The tables in the following pages present the condensed consolidating financial information for the Issuer, the Guarantors and the Non-Guarantors, Non-Guarantors Condensed Consolidating Balance Sheet April 29, 2017 (in thousands) Non- Issuer Guarantors Guarantors Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 4,173 $ 3,938 $ 17,626 $ — $ 25,737 Inventories — 79,026 61,912 — 140,938 Prepaid expenses 1,314 1,255 14,355 — 16,924 Other current assets 83 15,367 11,359 — 26,809 Total current assets 5,570 99,586 105,252 — 210,408 Property and equipment: Furniture, fixtures and equipment 5,817 137,672 76,880 — 220,369 Leasehold improvements 1,315 183,698 112,668 — 297,681 7,132 321,370 189,548 — 518,050 Accumulated depreciation and amortization (5,313 ) (248,460 ) (135,703 ) — (389,476 ) 1,819 72,910 53,845 — 128,574 Leased property under capital lease: Land and building — 18,055 — — 18,055 Accumulated depreciation and amortization — (6,539 ) — — (6,539 ) — 11,516 — — 11,516 Intercompany receivables — 314,426 83,188 (397,614 ) — Investment in subsidiaries 1,583,925 (42,638 ) — (1,541,287 ) — Goodwill — 987,517 145,058 — 1,132,575 Intangible assets, net 188,100 149,739 201,126 (84,634 ) 454,331 Other assets 1,144 4,240 35,668 — 41,052 1,773,169 1,413,284 465,040 (2,023,535 ) 1,627,958 Total assets $ 1,780,558 $ 1,597,296 $ 624,137 $ (2,023,535 ) $ 1,978,456 LIABILITIES AND STOCKHOLDER’S EQUITY (DEFICIT) Current liabilities: Trade accounts payable $ 1,073 $ 23,542 $ 45,111 $ — $ 69,726 Income taxes payable — 1,517 3,836 — 5,353 Accrued interest payable 23,322 — 681 — 24,003 Accrued expenses and other current liabilities 11,290 31,504 35,557 — 78,351 Total current liabilities 35,685 56,563 85,185 — 177,433 Intercompany payables 397,614 — — (397,614 ) — Long-term debt, net 1,812,309 146,887 155,971 — 2,115,167 Revolving credit facility, net 57,043 — — — 57,043 Obligation under capital lease — 16,289 — — 16,289 Deferred tax liability — 93,554 (1,654 ) — 91,900 Deferred rent expense — 23,145 10,772 — 33,917 Unfavorable lease obligations and other long-term — 8,800 — — 8,800 2,266,966 288,675 165,089 (397,614 ) 2,323,116 Stockholder’s equity (deficit): Common stock — 367 2 (369 ) — Additional paid in capital 630,558 1,520,543 766,992 (2,287,535 ) 630,558 Accumulated other comprehensive income (loss), (49,956 ) (6,455 ) (43,342 ) 49,797 (49,956 ) Accumulated deficit (1,102,695 ) (262,397 ) (349,789 ) 612,186 (1,102,695 ) (522,093 ) 1,252,058 373,863 (1,625,921 ) (522,093 ) Total liabilities and stockholder’s equity (deficit) $ 1,780,558 $ 1,597,296 $ 624,137 $ (2,023,535 ) $ 1,978,456 Condensed Consolidating Balance Sheet January 28, 2017 (in thousands) Non- Issuer Guarantors Guarantors Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 3,038 $ 3,005 $ 49,749 $ — $ 55,792 Inventories — 74,307 55,932 — 130,239 Prepaid expenses 463 1,397 12,782 — 14,642 Other current assets — 14,281 10,989 — 25,270 Total current assets 3,501 92,990 129,452 — 225,943 Property and equipment: Furniture, fixtures and equipment 5,817 137,382 75,605 — 218,804 Leasehold improvements 1,315 183,910 112,411 — 297,636 7,132 321,292 188,016 — 516,440 Accumulated depreciation and amortization (5,121 ) (244,158 ) (132,696 ) — (381,975 ) 2,011 77,134 55,320 — 134,465 Leased property under capital lease: Land and building — 18,055 — — 18,055 Accumulated depreciation and amortization — (6,313 ) — — (6,313 ) — 11,742 — — 11,742 Intercompany receivables — 288,796 61,125 (349,921 ) — Investment in subsidiaries 1,541,321 (43,213 ) — (1,498,108 ) — Goodwill — 987,517 145,058 — 1,132,575 Intangible assets, net 188,100 149,804 201,686 (84,634 ) 454,956 Other assets 1,066 4,342 35,117 — 40,525 1,730,487 1,387,246 442,986 (1,932,663 ) 1,628,056 Total assets $ 1,735,999 $ 1,569,112 $ 627,758 $ (1,932,663 ) $ 2,000,206 LIABILITIES AND STOCKHOLDER’S EQUITY (DEFICIT) Current liabilities: Current portion of long-term debt, net $ 18,405 $ — $ — $ — $ 18,405 Trade accounts payable 1,719 21,048 46,964 — 69,731 Income taxes payable — 1,160 4,923 — 6,083 Accrued interest payable 52,667 — 599 — 53,266 Accrued expenses and other current liabilities 14,474 33,517 39,155 — 87,146 Total current liabilities 87,265 55,725 91,641 — 234,631 Intercompany payables 349,923 — — (349,923 ) — Long-term debt, net 1,812,208 149,302 157,143 — 2,118,653 Revolving credit facility, net 3,925 — — — 3,925 Obligation under capital lease — 16,388 — — 16,388 Deferred tax liability — 93,554 5,701 — 99,255 Deferred rent expense — 23,424 10,876 — 34,300 Unfavorable lease obligations and other long-term — 10,373 3 — 10,376 2,166,056 293,041 173,723 (349,923 ) 2,282,897 Stockholder’s equity (deficit): Common stock — 367 2 (369 ) — Additional paid in capital 630,496 1,520,544 766,993 (2,287,537 ) 630,496 Accumulated other comprehensive income (loss), (51,881 ) (5,187 ) (47,062 ) 52,249 (51,881 ) Accumulated deficit (1,095,937 ) (295,378 ) (357,539 ) 652,917 (1,095,937 ) (517,322 ) 1,220,346 362,394 (1,582,740 ) (517,322 ) Total liabilities and stockholder’s equity (deficit) $ 1,735,999 $ 1,569,112 $ 627,758 $ (1,932,663 ) $ 2,000,206 Condensed Consolidating Statement of Operations and Comprehensive Loss For The Three Months Ended April 29, 2017 (in thousands) Non- Issuer Guarantors Guarantors Eliminations Consolidated Net sales $ — $ 182,070 $ 117,551 $ — $ 299,621 Cost of sales, occupancy and buying expenses 3,162 86,199 62,427 — 151,788 Gross profit (deficit) (3,162 ) 95,871 55,124 — 147,833 Other expenses: Selling, general and administrative 5,753 57,285 47,474 — 110,512 Depreciation and amortization 191 6,326 4,686 — 11,203 Severance and transaction-related costs — 57 86 — 143 Other (income) expense (1,937 ) (192 ) (572 ) — (2,701 ) 4,007 63,476 51,674 — 119,157 Operating income (loss) (7,169 ) 32,395 3,450 — 28,676 Interest expense, net 40,270 526 2,784 — 43,580 Income (loss) before income taxes (47,439 ) 31,869 666 — (14,904 ) Income tax benefit — (1,064 ) (7,082 ) — (8,146 ) Income (loss) from continuing operations (47,439 ) 32,933 7,748 — (6,758 ) Equity in earnings (loss) of subsidiaries 40,681 46 — (40,727 ) — Net income (loss) (6,758 ) 32,979 7,748 (40,727 ) (6,758 ) Foreign currency translation adjustments 44 (412 ) 1,837 (1,425 ) 44 Net gain (loss) on intra-entity foreign currency transactions, net of tax 1,881 (856 ) 1,883 (1,027 ) 1,881 Other comprehensive income (loss) 1,925 (1,268 ) 3,720 (2,452 ) 1,925 Comprehensive income (loss) $ (4,833 ) $ 31,711 $ 11,468 $ (43,179 ) $ (4,833 ) Condensed Consolidating Statement of Operations and Comprehensive Loss For The Three Months Ended April 30, 2016 (in thousands) Non- Issuer Guarantors Guarantors Eliminations Consolidated Net sales $ — $ 186,024 $ 113,623 $ — $ 299,647 Cost of sales, occupancy and buying expenses 2,725 91,252 64,376 — 158,353 Gross profit (deficit) (2,725 ) 94,772 49,247 — 141,294 Other expenses: Selling, general and administrative 4,771 55,413 47,538 — 107,722 Depreciation and amortization 237 8,314 5,509 — 14,060 Severance and transaction-related costs 1,348 (3 ) 228 — 1,573 Other (income) expense (1,411 ) 16 4,340 — 2,945 4,945 63,740 57,615 — 126,300 Operating income (loss) (7,670 ) 31,032 (8,368 ) — 14,994 Interest expense, net 54,269 540 270 — 55,079 Income (loss) before income taxes (61,939 ) 30,492 (8,638 ) — (40,085 ) Income tax expense (benefit) — (1,339 ) 12 — (1,327 ) Income (loss) from continuing operations (61,939 ) 31,831 (8,650 ) — (38,758 ) Equity in earnings (loss) of subsidiaries 23,181 (1,664 ) — (21,517 ) — Net income (loss) (38,758 ) 30,167 (8,650 ) (21,517 ) (38,758 ) Foreign currency translation adjustments 2,860 1,486 (2,706 ) 1,220 2,860 Net gain (loss) on intra-entity foreign currency transactions, net of tax 10,195 2,389 10,278 (12,667 ) 10,195 Other comprehensive income (loss) 13,055 3,875 7,572 (11,447 ) 13,055 Comprehensive income (loss) $ (25,703 ) $ 34,042 $ (1,078 ) $ (32,964 ) $ (25,703 ) Condensed Consolidating Statement of Cash Flows Three Months Ended April 29, 2017 (in thousands) Non- Issuer Guarantors Guarantors Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (6,758 ) $ 32,979 $ 7,748 $ (40,727 ) $ (6,758 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Loss (equity) in earnings of subsidiaries (40,681 ) (46 ) — 40,727 — Depreciation and amortization 191 6,326 4,686 — 11,203 Amortization of lease rights and other assets — — 1,069 — 1,069 Amortization of debt issuance costs 1,899 — 288 — 2,187 Accretion of debt premium (721 ) — — — (721 ) Net accretion of unfavorable lease obligations — (63 ) (1 ) — (64 ) Loss on sale/retirement of property and equipment, net — 118 — — 118 Stock-based compensation expense (benefit) 58 — 4 — 62 (Increase) decrease in: Inventories — (4,719 ) (4,975 ) — (9,694 ) Prepaid expenses (850 ) 142 (663 ) — (1,371 ) Other assets (158 ) (993 ) (283 ) — (1,434 ) Increase (decrease) in: Trade accounts payable (646 ) 2,380 (2,803 ) — (1,069 ) Income taxes payable — 367 (1,329 ) — (962 ) Accrued interest payable (29,345 ) — 82 — (29,263 ) Accrued expenses and other liabilities (3,184 ) (3,479 ) (4,171 ) — (10,834 ) Deferred income taxes — — (7,597 ) — (7,597 ) Deferred rent expense — (280 ) (245 ) — (525 ) Net cash provided by (used in) operating activities (80,195 ) 32,732 (8,190 ) — (55,653 ) Cash flows from investing activities: Acquisition of property and equipment — (1,855 ) (1,510 ) — (3,365 ) Acquisition of intangible assets/lease rights — (28 ) — — (28 ) Net cash used in investing activities — (1,883 ) (1,510 ) — (3,393 ) Cash flows from financing activities: Proceeds from revolving credit facilities 69,000 — — — 69,000 Payments on revolving credit facilities (16,200 ) — — — (16,200 ) Payments on short-term debt (18,420 ) — — — (18,420 ) Payments on long-term debt (743 ) (2,415 ) (1,114 ) — (4,272 ) Payment of debt issuance costs — — (347 ) — (347 ) Principal payments on capital lease — (76 ) — — (76 ) Intercompany activity, net 47,693 (25,629 ) (22,064 ) — — Net cash provided by (used in) financing activities 81,330 (28,120 ) (23,525 ) — 29,685 Effect of foreign currency exchange rate changes on cash and — (1,796 ) 1,102 — (694 ) Net increase in cash and cash equivalents 1,135 933 (32,123 ) — (30,055 ) Cash and cash equivalents, at beginning of period 3,038 3,005 49,749 — 55,792 Cash and cash equivalents, at end of period 4,173 3,938 17,626 — 25,737 Condensed Consolidating Statement of Cash Flows Three Months Ended April 30, 2016 (in thousands) Non- Issuer Guarantors Guarantors Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (38,758 ) $ 30,167 $ (8,650 ) $ (21,517 ) $ (38,758 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Loss (equity) in earnings of subsidiaries (23,181 ) 1,664 — 21,517 — Depreciation and amortization 237 8,314 5,509 — 14,060 Amortization of lease rights and other assets — — 658 — 658 Amortization of debt issuance costs 2,013 — 89 — 2,102 Accretion of debt premium (662 ) — — — (662 ) Net accretion of unfavorable lease obligations — (62 ) — — (62 ) Loss on sale/retirement of property and equipment, net — 98 4 — 102 Stock-based compensation expense (benefit) (44 ) — 11 — (33 ) (Increase) decrease in: Inventories — (57 ) (7,130 ) — (7,187 ) Prepaid expenses (704 ) (12,043 ) (1,473 ) — (14,220 ) Other assets 17 (1,179 ) (316 ) — (1,478 ) Increase (decrease) in: Trade accounts payable 47 (5,165 ) 6,252 — 1,134 Income taxes payable — (161 ) (848 ) — (1,009 ) Accrued interest payable (25,343 ) — 21 — (25,322 ) Accrued expenses and other liabilities (214 ) (7,501 ) (7,438 ) — (15,153 ) Deferred income taxes — — (355 ) — (355 ) Deferred rent expense — (547 ) (64 ) — (611 ) Net cash provided by (used in) operating activities (86,592 ) 13,528 (13,730 ) — (86,794 ) Cash flows from investing activities: Acquisition of property and equipment (170 ) (2,769 ) (1,276 ) — (4,215 ) Acquisition of intangible assets/lease rights — (11 ) (80 ) — (91 ) Net cash used in investing activities (170 ) (2,780 ) (1,356 ) — (4,306 ) Cash flows from financing activities: Proceeds from revolving credit facilities 68,000 — 48,864 — 116,864 Payments on revolving credit facilities — — — — — Payment of debt issuance costs — — (44 ) — (44 ) Principal payments on capital lease — (58 ) — — (58 ) Intercompany activity, net 33,867 (15,895 ) (17,972 ) — — Net cash provided by (used in) financing activities 101,867 (15,953 ) 30,848 — 116,762 Effect of foreign currency exchange rate changes on cash — 5,605 (1,250 ) — 4,355 Net increase in cash and cash equivalents 15,105 400 14,512 — 30,017 Cash and cash equivalents, at beginning of period 2,664 3,394 12,813 — 18,871 Cash and cash equivalents, at end of period 17,769 3,794 27,325 — 48,888

Subsequent Events

Subsequent Events	3 Months Ended
	Apr. 29, 2017
Subsequent Events	12. Subsequent Events On June 6, 2017, the Company and Claire’s Inc., the parent of the Company (“Parent”) entered into an Amended and Restated Management Services Agreement (the “Management Services Agreement”) with Apollo Management VI, L.P. (together with its affiliates, “Apollo”), Cowen & Co., LLC, as successor to Tri-Artisan out-of-pocket time-to-time In addition on June 6, 2017, the Company and Cowen entered into a letter agreement (the “Cowen Management Agreement”) pursuant to which Cowen will provide the Company with certain financial advisory and investment banking services on a month-to-month out-of-pocket

Debt (Tables)

Debt (Tables)	3 Months Ended
	Apr. 29, 2017
Components of Debt	Debt as of April 29, 2017 and January 28, 2017 included the following components (in thousands): April 29, 2017 January 28, 2017 Current portion of long-term debt: 10.5% Senior subordinated notes due 2017 $ — $ 18,420 Unamortized debt issuance cost — (15 ) Total current portion of long-term debt, net $ — $ 18,405 Long-term debt: Claire’s Gibraltar unsecured term loan due 2019 $ 40,000 $ 40,000 Claire’s Gibraltar Intermediate secured term loan due 2019 50,000 50,000 9.0% Senior secured first lien notes due 2019 (1) 1,130,898 1,131,619 8.875% Senior secured second lien notes due 2019 222,300 222,300 6.125% Senior secured first lien notes due 2020 210,000 210,000 7.75% Senior notes due 2020 216,742 216,742 9.0% Claire’s Stores term loan due 2021 30,933 30,933 9.0% CLSIP term loan due 2021 100,525 100,525 9.0% Claire’s Gibraltar term loans due 2021 46,394 46,394 Adjustment to carrying value 82,024 86,296 Unamortized debt issuance cost (14,649 ) (16,156 ) Total long-term debt, net $ 2,115,167 $ 2,118,653 Revolving credit facility: U.S. asset based lending credit facility due 2019 $ 59,000 $ 6,200 Unamortized debt issuance cost (1,957 ) (2,275 ) Total revolving credit facility, net $ 57,043 $ 3,925 Obligation under capital lease (including current portion) $ 16,635 $ 16,712 (1) Amount includes unamortized premium of $5,898 and $6,619 as of April 29, 2017 and January 28, 2017, respectively.

Accumulated Other Comprehensi20

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Apr. 29, 2017
Components of Accumulated Other Comprehensive Income (Loss), Net of Tax	The following summary sets forth the components of accumulated other comprehensive income (loss), net of tax as follows (in thousands, net of tax): Total (1) Balance as of January 28, 2017 $ (51,881 ) Other comprehensive income 1,925 Balance as of April 29, 2017 $ (49,956 ) (1) Represents foreign currency items and $5.7 million of other income associated with expired derivative instruments

Stock Options and Stock-Based21

Stock Options and Stock-Based Compensation (Tables)	3 Months Ended
	Apr. 29, 2017
Summary of Activity in Stock Option Plan	The following is a summary of activity in the Company’s stock option plan for the three months ended April 29, 2017: Weighted- Weighted- Average Average Remaining Number of Exercise Contractual Shares Price Term (Years) Outstanding as of January 28, 2017 3,125,062 $ 5.67 Options granted 1,200 $ 1.25 Options exercised — Options forfeited (8,475 ) $ 7.34 Options expired (4,712 ) $ 10.00 Outstanding as of April 29, 2017 3,113,075 $ 5.66 4.5 Options vested and expected to vest as of April 29, 2017 2,926,746 $ 5.81 4.4 Exercisable as of April 29, 2017 1,352,212 $ 8.22 3.4

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Apr. 29, 2017
Net Sales, Depreciation and Amortization and Operating Income	Net sales, depreciation and amortization and operating income for the three months ended April 29, 2017 and April 30, 2016 are as follows (in thousands): Three Months Three Months Ended Ended April 29, 2017 April 30, 2016 Net sales: North America $ 195,960 $ 199,306 Europe 103,661 100,341 Total net sales 299,621 299,647 Depreciation and amortization: North America 7,102 9,095 Europe 4,101 4,965 Total depreciation and amortization 11,203 14,060 Operating income (loss) for reportable segments: North America 25,710 24,571 Europe 3,109 (8,004 ) Total operating income for reportable segments 28,819 16,567 Severance and transaction-related costs 143 1,573 Consolidated operating income 28,676 14,994 Interest expense, net 43,580 55,079 Consolidated loss before income tax benefit $ (14,904 ) $ (40,085 )

Supplemental Financial Inform23

Supplemental Financial Information (Tables)	3 Months Ended
	Apr. 29, 2017
Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet April 29, 2017 (in thousands) Non- Issuer Guarantors Guarantors Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 4,173 $ 3,938 $ 17,626 $ — $ 25,737 Inventories — 79,026 61,912 — 140,938 Prepaid expenses 1,314 1,255 14,355 — 16,924 Other current assets 83 15,367 11,359 — 26,809 Total current assets 5,570 99,586 105,252 — 210,408 Property and equipment: Furniture, fixtures and equipment 5,817 137,672 76,880 — 220,369 Leasehold improvements 1,315 183,698 112,668 — 297,681 7,132 321,370 189,548 — 518,050 Accumulated depreciation and amortization (5,313 ) (248,460 ) (135,703 ) — (389,476 ) 1,819 72,910 53,845 — 128,574 Leased property under capital lease: Land and building — 18,055 — — 18,055 Accumulated depreciation and amortization — (6,539 ) — — (6,539 ) — 11,516 — — 11,516 Intercompany receivables — 314,426 83,188 (397,614 ) — Investment in subsidiaries 1,583,925 (42,638 ) — (1,541,287 ) — Goodwill — 987,517 145,058 — 1,132,575 Intangible assets, net 188,100 149,739 201,126 (84,634 ) 454,331 Other assets 1,144 4,240 35,668 — 41,052 1,773,169 1,413,284 465,040 (2,023,535 ) 1,627,958 Total assets $ 1,780,558 $ 1,597,296 $ 624,137 $ (2,023,535 ) $ 1,978,456 LIABILITIES AND STOCKHOLDER’S EQUITY (DEFICIT) Current liabilities: Trade accounts payable $ 1,073 $ 23,542 $ 45,111 $ — $ 69,726 Income taxes payable — 1,517 3,836 — 5,353 Accrued interest payable 23,322 — 681 — 24,003 Accrued expenses and other current liabilities 11,290 31,504 35,557 — 78,351 Total current liabilities 35,685 56,563 85,185 — 177,433 Intercompany payables 397,614 — — (397,614 ) — Long-term debt, net 1,812,309 146,887 155,971 — 2,115,167 Revolving credit facility, net 57,043 — — — 57,043 Obligation under capital lease — 16,289 — — 16,289 Deferred tax liability — 93,554 (1,654 ) — 91,900 Deferred rent expense — 23,145 10,772 — 33,917 Unfavorable lease obligations and other long-term — 8,800 — — 8,800 2,266,966 288,675 165,089 (397,614 ) 2,323,116 Stockholder’s equity (deficit): Common stock — 367 2 (369 ) — Additional paid in capital 630,558 1,520,543 766,992 (2,287,535 ) 630,558 Accumulated other comprehensive income (loss), (49,956 ) (6,455 ) (43,342 ) 49,797 (49,956 ) Accumulated deficit (1,102,695 ) (262,397 ) (349,789 ) 612,186 (1,102,695 ) (522,093 ) 1,252,058 373,863 (1,625,921 ) (522,093 ) Total liabilities and stockholder’s equity (deficit) $ 1,780,558 $ 1,597,296 $ 624,137 $ (2,023,535 ) $ 1,978,456 Condensed Consolidating Balance Sheet January 28, 2017 (in thousands) Non- Issuer Guarantors Guarantors Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ 3,038 $ 3,005 $ 49,749 $ — $ 55,792 Inventories — 74,307 55,932 — 130,239 Prepaid expenses 463 1,397 12,782 — 14,642 Other current assets — 14,281 10,989 — 25,270 Total current assets 3,501 92,990 129,452 — 225,943 Property and equipment: Furniture, fixtures and equipment 5,817 137,382 75,605 — 218,804 Leasehold improvements 1,315 183,910 112,411 — 297,636 7,132 321,292 188,016 — 516,440 Accumulated depreciation and amortization (5,121 ) (244,158 ) (132,696 ) — (381,975 ) 2,011 77,134 55,320 — 134,465 Leased property under capital lease: Land and building — 18,055 — — 18,055 Accumulated depreciation and amortization — (6,313 ) — — (6,313 ) — 11,742 — — 11,742 Intercompany receivables — 288,796 61,125 (349,921 ) — Investment in subsidiaries 1,541,321 (43,213 ) — (1,498,108 ) — Goodwill — 987,517 145,058 — 1,132,575 Intangible assets, net 188,100 149,804 201,686 (84,634 ) 454,956 Other assets 1,066 4,342 35,117 — 40,525 1,730,487 1,387,246 442,986 (1,932,663 ) 1,628,056 Total assets $ 1,735,999 $ 1,569,112 $ 627,758 $ (1,932,663 ) $ 2,000,206 LIABILITIES AND STOCKHOLDER’S EQUITY (DEFICIT) Current liabilities: Current portion of long-term debt, net $ 18,405 $ — $ — $ — $ 18,405 Trade accounts payable 1,719 21,048 46,964 — 69,731 Income taxes payable — 1,160 4,923 — 6,083 Accrued interest payable 52,667 — 599 — 53,266 Accrued expenses and other current liabilities 14,474 33,517 39,155 — 87,146 Total current liabilities 87,265 55,725 91,641 — 234,631 Intercompany payables 349,923 — — (349,923 ) — Long-term debt, net 1,812,208 149,302 157,143 — 2,118,653 Revolving credit facility, net 3,925 — — — 3,925 Obligation under capital lease — 16,388 — — 16,388 Deferred tax liability — 93,554 5,701 — 99,255 Deferred rent expense — 23,424 10,876 — 34,300 Unfavorable lease obligations and other long-term — 10,373 3 — 10,376 2,166,056 293,041 173,723 (349,923 ) 2,282,897 Stockholder’s equity (deficit): Common stock — 367 2 (369 ) — Additional paid in capital 630,496 1,520,544 766,993 (2,287,537 ) 630,496 Accumulated other comprehensive income (loss), (51,881 ) (5,187 ) (47,062 ) 52,249 (51,881 ) Accumulated deficit (1,095,937 ) (295,378 ) (357,539 ) 652,917 (1,095,937 ) (517,322 ) 1,220,346 362,394 (1,582,740 ) (517,322 ) Total liabilities and stockholder’s equity (deficit) $ 1,735,999 $ 1,569,112 $ 627,758 $ (1,932,663 ) $ 2,000,206
Condensed Consolidating Statement of Operations and Comprehensive Loss	Condensed Consolidating Statement of Operations and Comprehensive Loss For The Three Months Ended April 29, 2017 (in thousands) Non- Issuer Guarantors Guarantors Eliminations Consolidated Net sales $ — $ 182,070 $ 117,551 $ — $ 299,621 Cost of sales, occupancy and buying expenses 3,162 86,199 62,427 — 151,788 Gross profit (deficit) (3,162 ) 95,871 55,124 — 147,833 Other expenses: Selling, general and administrative 5,753 57,285 47,474 — 110,512 Depreciation and amortization 191 6,326 4,686 — 11,203 Severance and transaction-related costs — 57 86 — 143 Other (income) expense (1,937 ) (192 ) (572 ) — (2,701 ) 4,007 63,476 51,674 — 119,157 Operating income (loss) (7,169 ) 32,395 3,450 — 28,676 Interest expense, net 40,270 526 2,784 — 43,580 Income (loss) before income taxes (47,439 ) 31,869 666 — (14,904 ) Income tax benefit — (1,064 ) (7,082 ) — (8,146 ) Income (loss) from continuing operations (47,439 ) 32,933 7,748 — (6,758 ) Equity in earnings (loss) of subsidiaries 40,681 46 — (40,727 ) — Net income (loss) (6,758 ) 32,979 7,748 (40,727 ) (6,758 ) Foreign currency translation adjustments 44 (412 ) 1,837 (1,425 ) 44 Net gain (loss) on intra-entity foreign currency transactions, net of tax 1,881 (856 ) 1,883 (1,027 ) 1,881 Other comprehensive income (loss) 1,925 (1,268 ) 3,720 (2,452 ) 1,925 Comprehensive income (loss) $ (4,833 ) $ 31,711 $ 11,468 $ (43,179 ) $ (4,833 ) Condensed Consolidating Statement of Operations and Comprehensive Loss For The Three Months Ended April 30, 2016 (in thousands) Non- Issuer Guarantors Guarantors Eliminations Consolidated Net sales $ — $ 186,024 $ 113,623 $ — $ 299,647 Cost of sales, occupancy and buying expenses 2,725 91,252 64,376 — 158,353 Gross profit (deficit) (2,725 ) 94,772 49,247 — 141,294 Other expenses: Selling, general and administrative 4,771 55,413 47,538 — 107,722 Depreciation and amortization 237 8,314 5,509 — 14,060 Severance and transaction-related costs 1,348 (3 ) 228 — 1,573 Other (income) expense (1,411 ) 16 4,340 — 2,945 4,945 63,740 57,615 — 126,300 Operating income (loss) (7,670 ) 31,032 (8,368 ) — 14,994 Interest expense, net 54,269 540 270 — 55,079 Income (loss) before income taxes (61,939 ) 30,492 (8,638 ) — (40,085 ) Income tax expense (benefit) — (1,339 ) 12 — (1,327 ) Income (loss) from continuing operations (61,939 ) 31,831 (8,650 ) — (38,758 ) Equity in earnings (loss) of subsidiaries 23,181 (1,664 ) — (21,517 ) — Net income (loss) (38,758 ) 30,167 (8,650 ) (21,517 ) (38,758 ) Foreign currency translation adjustments 2,860 1,486 (2,706 ) 1,220 2,860 Net gain (loss) on intra-entity foreign currency transactions, net of tax 10,195 2,389 10,278 (12,667 ) 10,195 Other comprehensive income (loss) 13,055 3,875 7,572 (11,447 ) 13,055 Comprehensive income (loss) $ (25,703 ) $ 34,042 $ (1,078 ) $ (32,964 ) $ (25,703 )
Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows Three Months Ended April 29, 2017 (in thousands) Non- Issuer Guarantors Guarantors Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (6,758 ) $ 32,979 $ 7,748 $ (40,727 ) $ (6,758 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Loss (equity) in earnings of subsidiaries (40,681 ) (46 ) — 40,727 — Depreciation and amortization 191 6,326 4,686 — 11,203 Amortization of lease rights and other assets — — 1,069 — 1,069 Amortization of debt issuance costs 1,899 — 288 — 2,187 Accretion of debt premium (721 ) — — — (721 ) Net accretion of unfavorable lease obligations — (63 ) (1 ) — (64 ) Loss on sale/retirement of property and equipment, net — 118 — — 118 Stock-based compensation expense (benefit) 58 — 4 — 62 (Increase) decrease in: Inventories — (4,719 ) (4,975 ) — (9,694 ) Prepaid expenses (850 ) 142 (663 ) — (1,371 ) Other assets (158 ) (993 ) (283 ) — (1,434 ) Increase (decrease) in: Trade accounts payable (646 ) 2,380 (2,803 ) — (1,069 ) Income taxes payable — 367 (1,329 ) — (962 ) Accrued interest payable (29,345 ) — 82 — (29,263 ) Accrued expenses and other liabilities (3,184 ) (3,479 ) (4,171 ) — (10,834 ) Deferred income taxes — — (7,597 ) — (7,597 ) Deferred rent expense — (280 ) (245 ) — (525 ) Net cash provided by (used in) operating activities (80,195 ) 32,732 (8,190 ) — (55,653 ) Cash flows from investing activities: Acquisition of property and equipment — (1,855 ) (1,510 ) — (3,365 ) Acquisition of intangible assets/lease rights — (28 ) — — (28 ) Net cash used in investing activities — (1,883 ) (1,510 ) — (3,393 ) Cash flows from financing activities: Proceeds from revolving credit facilities 69,000 — — — 69,000 Payments on revolving credit facilities (16,200 ) — — — (16,200 ) Payments on short-term debt (18,420 ) — — — (18,420 ) Payments on long-term debt (743 ) (2,415 ) (1,114 ) — (4,272 ) Payment of debt issuance costs — — (347 ) — (347 ) Principal payments on capital lease — (76 ) — — (76 ) Intercompany activity, net 47,693 (25,629 ) (22,064 ) — — Net cash provided by (used in) financing activities 81,330 (28,120 ) (23,525 ) — 29,685 Effect of foreign currency exchange rate changes on cash and — (1,796 ) 1,102 — (694 ) Net increase in cash and cash equivalents 1,135 933 (32,123 ) — (30,055 ) Cash and cash equivalents, at beginning of period 3,038 3,005 49,749 — 55,792 Cash and cash equivalents, at end of period 4,173 3,938 17,626 — 25,737 Condensed Consolidating Statement of Cash Flows Three Months Ended April 30, 2016 (in thousands) Non- Issuer Guarantors Guarantors Eliminations Consolidated Cash flows from operating activities: Net income (loss) $ (38,758 ) $ 30,167 $ (8,650 ) $ (21,517 ) $ (38,758 ) Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: Loss (equity) in earnings of subsidiaries (23,181 ) 1,664 — 21,517 — Depreciation and amortization 237 8,314 5,509 — 14,060 Amortization of lease rights and other assets — — 658 — 658 Amortization of debt issuance costs 2,013 — 89 — 2,102 Accretion of debt premium (662 ) — — — (662 ) Net accretion of unfavorable lease obligations — (62 ) — — (62 ) Loss on sale/retirement of property and equipment, net — 98 4 — 102 Stock-based compensation expense (benefit) (44 ) — 11 — (33 ) (Increase) decrease in: Inventories — (57 ) (7,130 ) — (7,187 ) Prepaid expenses (704 ) (12,043 ) (1,473 ) — (14,220 ) Other assets 17 (1,179 ) (316 ) — (1,478 ) Increase (decrease) in: Trade accounts payable 47 (5,165 ) 6,252 — 1,134 Income taxes payable — (161 ) (848 ) — (1,009 ) Accrued interest payable (25,343 ) — 21 — (25,322 ) Accrued expenses and other liabilities (214 ) (7,501 ) (7,438 ) — (15,153 ) Deferred income taxes — — (355 ) — (355 ) Deferred rent expense — (547 ) (64 ) — (611 ) Net cash provided by (used in) operating activities (86,592 ) 13,528 (13,730 ) — (86,794 ) Cash flows from investing activities: Acquisition of property and equipment (170 ) (2,769 ) (1,276 ) — (4,215 ) Acquisition of intangible assets/lease rights — (11 ) (80 ) — (91 ) Net cash used in investing activities (170 ) (2,780 ) (1,356 ) — (4,306 ) Cash flows from financing activities: Proceeds from revolving credit facilities 68,000 — 48,864 — 116,864 Payments on revolving credit facilities — — — — — Payment of debt issuance costs — — (44 ) — (44 ) Principal payments on capital lease — (58 ) — — (58 ) Intercompany activity, net 33,867 (15,895 ) (17,972 ) — — Net cash provided by (used in) financing activities 101,867 (15,953 ) 30,848 — 116,762 Effect of foreign currency exchange rate changes on cash — 5,605 (1,250 ) — 4,355 Net increase in cash and cash equivalents 15,105 400 14,512 — 30,017 Cash and cash equivalents, at beginning of period 2,664 3,394 12,813 — 18,871 Cash and cash equivalents, at end of period 17,769 3,794 27,325 — 48,888

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Apr. 29, 2017	Jan. 28, 2017
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long term debt, fair value	$ 1,040	$ 1,090
Long term debt, carrying value	$ 2,130	$ 2,150

Components of Debt (Detail)

Components of Debt (Detail) - USD ($) $ in Thousands		Apr. 29, 2017	Mar. 31, 2017	Jan. 28, 2017
Debt Instrument [Line Items]
Unamortized debt issuance cost, current				$ (15)
Total current portion of long-term debt, net				18,405
Adjustment to carrying value		$ 82,024		86,296
Unamortized debt issuance cost		(14,649)		(16,156)
Total long-term debt, net		2,115,167		2,118,653
Total revolving credit facility, net		57,043		3,925
Obligation under capital lease (including current portion)		16,635		16,712
10.5% Senior subordinated notes due 2017
Debt Instrument [Line Items]
Debt instrument carrying amount, current				18,420
Total current portion of long-term debt, net			$ 18,400
Claire's Gibraltar unsecured term loan due 2019
Debt Instrument [Line Items]
Debt instrument carrying amount, non current		40,000		40,000
Claire's Gibraltar Intermediate secured term loan due 2019
Debt Instrument [Line Items]
Debt instrument carrying amount, non current		50,000		50,000
9.0% Senior secured first lien notes due 2019
Debt Instrument [Line Items]
Debt instrument carrying amount, non current	[1]	1,130,898		1,131,619
8.875% Senior secured second lien notes due 2019
Debt Instrument [Line Items]
Debt instrument carrying amount, non current		222,300		222,300
6.125% Senior secured first lien notes due 2020
Debt Instrument [Line Items]
Debt instrument carrying amount, non current		210,000		210,000
7.75% Senior notes due 2020
Debt Instrument [Line Items]
Debt instrument carrying amount, non current		216,742		216,742
9.0% Claire's Stores term loan due 2021
Debt Instrument [Line Items]
Debt instrument carrying amount, non current		30,933		30,933
9.0% CLSIP term loan due 2021
Debt Instrument [Line Items]
Debt instrument carrying amount, non current		100,525		100,525
9.0% Claire's Gibraltar term loans due 2021
Debt Instrument [Line Items]
Debt instrument carrying amount, non current		46,394		46,394
Asset Based Lending Credit Facility | U.S. Credit Facility
Debt Instrument [Line Items]
Unamortized debt issuance cost		(1,957)		(2,275)
Debt instrument carrying amount, non current		$ 59,000		$ 6,200
[1]	Amount includes unamortized premium of $5,898 and $6,619 as of April 29, 2017 and January 28, 2017, respectively.

Components of Debt (Parenthetic

Components of Debt (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Apr. 29, 2017	Jan. 28, 2017	Mar. 31, 2017
10.5% Senior subordinated notes due 2017
Debt Instrument [Line Items]
Long-term Debt, interest rate	10.50%		10.50%
Long-term Debt, due date	2,017
Claire's Gibraltar unsecured term loan due 2019
Debt Instrument [Line Items]
Long-term Debt, due date	2,019
Claire's Gibraltar Intermediate secured term loan due 2019
Debt Instrument [Line Items]
Long-term Debt, due date	2,019
9.0% Senior secured first lien notes due 2019
Debt Instrument [Line Items]
Long-term Debt, interest rate	9.00%	9.00%
Long-term Debt, due date	2,019	2,019
Unamortized premium	$ 5,898	$ 6,619
8.875% Senior secured second lien notes due 2019
Debt Instrument [Line Items]
Long-term Debt, interest rate	8.875%	8.875%
Long-term Debt, due date	2,019	2,019
6.125% Senior secured first lien notes due 2020
Debt Instrument [Line Items]
Long-term Debt, interest rate	6.125%	6.125%
Long-term Debt, due date	2,020	2,020
7.75% Senior notes due 2020
Debt Instrument [Line Items]
Long-term Debt, interest rate	7.75%	7.75%
Long-term Debt, due date	2,020	2,020
9.0% Claire's Stores term loan due 2021
Debt Instrument [Line Items]
Long-term Debt, interest rate	9.00%
Long-term Debt, due date	2,021
9.0% CLSIP term loan due 2021
Debt Instrument [Line Items]
Long-term Debt, interest rate	9.00%
Long-term Debt, due date	2,021
9.0% Claire's Gibraltar term loans due 2021
Debt Instrument [Line Items]
Long-term Debt, interest rate	9.00%
Long-term Debt, due date	2,021
U.S. Credit Facility | Asset Based Lending Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, due date	2,019

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)	Jan. 05, 2017	Sep. 20, 2016	Apr. 29, 2017	Oct. 29, 2016	Mar. 31, 2017	Jan. 28, 2017
Debt Instrument [Line Items]
Aggregate principal amount of senior notes outstanding						$ 18,405,000
Reduction in indebtedness under credit facility			$ 4,272,000
ABL Credit Facility | Revolving credit facilities
Debt Instrument [Line Items]
Line Of Credit Facility Remaining Borrowing Capacity		$ 75,000,000	$ 12,000,000
Long-term debt, maturity date		Feb. 4, 2019
Commitment fee			0.50%
Credit facility, amount outstanding			$ 59,000,000
Letters of credit outstanding			$ 4,000,000
ABL Credit Facility | Revolving credit facilities | Federal Fund Rate
Debt Instrument [Line Items]
Debt instrument, marginal rate			0.50%
ABL Credit Facility | Revolving credit facilities | One-month LIBOR Rate
Debt Instrument [Line Items]
Debt instrument, marginal rate			1.00%
ABL Credit Facility | Revolving credit facilities | Base Rate Borrowings
Debt Instrument [Line Items]
Debt instrument, marginal rate			3.50%
ABL Credit Facility | Revolving credit facilities | LIBOR Rate
Debt Instrument [Line Items]
Debt instrument, marginal rate			4.50%
U.S. Credit Facility
Debt Instrument [Line Items]
Line Of Credit Facility Remaining Borrowing Capacity		$ 75,000,000
Long-term debt, maturity date		Feb. 4, 2019
Credit facility, amount outstanding			$ 0
U.S. Credit Facility | Senior secured revolving credit facility due 2019
Debt Instrument [Line Items]
Commitment fee			0.50%
Outstanding letters of credit				$ 15,000,000
U.S. Credit Facility | Senior secured revolving credit facility due 2019 | Federal Fund Rate
Debt Instrument [Line Items]
Debt instrument, marginal rate			0.50%
U.S. Credit Facility | Senior secured revolving credit facility due 2019 | One-month LIBOR Rate
Debt Instrument [Line Items]
Debt instrument, marginal rate			1.00%
U.S. Credit Facility | Senior secured revolving credit facility due 2019 | Base Rate Borrowings
Debt Instrument [Line Items]
Debt instrument, marginal rate			3.50%
U.S. Credit Facility | Senior secured revolving credit facility due 2019 | LIBOR Rate
Debt Instrument [Line Items]
Debt instrument, marginal rate			4.50%
U.S. Credit Facility | Senior secured revolving credit facility due 2019 | For the fiscal quarters prior to the first fiscal quarter of 2018
Debt Instrument [Line Items]
Total Net Secured Leverage Ratio				895.00%
U.S. Credit Facility | Senior secured revolving credit facility due 2019 | For the fiscal quarters including and after the first fiscal quarter of 2018
Debt Instrument [Line Items]
Total Net Secured Leverage Ratio				800.00%
U.S. Credit Facility | Second amendment and restated credit facility
Debt Instrument [Line Items]
Credit facilities borrowing capacity		$ 115,000,000
Europe Credit Agreement Secured Term Loan
Debt Instrument [Line Items]
Long-term debt, maturity date	Jan. 31, 2019
Aggregate principal amount	$ 50,000,000
Europe Credit Agreement Secured Term Loan | Interest Rate During First Year [Member]
Debt Instrument [Line Items]
Long-term Debt, interest rate	15.00%
Long-term Debt, interest rate pay-in-kind	3.00%
Europe Credit Agreement Secured Term Loan | Interest Rate During Second Year [Member]
Debt Instrument [Line Items]
Long-term Debt, interest rate	12.00%
Europe Bank Credit Facilities
Debt Instrument [Line Items]
Line Of Credit Facility Remaining Borrowing Capacity			$ 100,000
Credit facilities borrowing capacity			1,900,000
Reduction in indebtedness under credit facility			$ 1,800,000
10.5% Senior subordinated notes due 2017
Debt Instrument [Line Items]
Long-term Debt, interest rate			10.50%		10.50%
Aggregate principal amount of senior notes outstanding					$ 18,400,000
Long-term Debt, due date			2,017
9.0% Claire's Gibraltar term loans due 2021
Debt Instrument [Line Items]
Long-term Debt, interest rate			9.00%
Long-term Debt, due date			2,021
9.0% Senior secured first lien notes due 2019
Debt Instrument [Line Items]
Long-term Debt, interest rate			9.00%
Long-term Debt, due date			2,019
6.125% Senior secured first lien notes due 2020
Debt Instrument [Line Items]
Long-term Debt, interest rate			6.125%
Long-term Debt, due date			2,020
8.765% Senior secured second lien notes due 2019
Debt Instrument [Line Items]
Long-term Debt, interest rate			8.765%
Long-term Debt, due date			2,019
7.750% Senior notes due 2020
Debt Instrument [Line Items]
Long-term Debt, interest rate			7.75%
Long-term Debt, due date			2,020

Components of Accumulated Other

Components of Accumulated Other Comprehensive Income (Loss), Net of Tax (Detail) - USD ($) $ in Thousands		3 Months Ended
		Apr. 29, 2017		Apr. 30, 2016
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance		$ (517,322)
Other comprehensive income		1,925	[1]	$ 13,055
Ending balance		(522,093)
Accumulated other comprehensive loss, net
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	[1]	(51,881)
Ending balance	[1]	$ (49,956)
[1]	Represents foreign currency items and $5.7 million of other income associated with expired derivative instruments

Components of Accumulated Oth29

Components of Accumulated Other Comprehensive Income (Loss), Net of Tax (Parenthetical) (Detail) $ in Millions	3 Months Ended
	Apr. 29, 2017USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other income associated with expired derivative instruments	$ 5.7

Summary of Activity in Stock Op

Summary of Activity in Stock Option Plan (Detail)	3 Months Ended
	Apr. 29, 2017$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding as of January 28, 2017 | shares	3,125,062
Options granted | shares	1,200
Options exercised | shares	0
Options forfeited | shares	(8,475)
Options expired | shares	(4,712)
Outstanding as of April 29, 2017 | shares	3,113,075
Options vested and expected to vest as of April 29, 2017 | shares	2,926,746
Exercisable as of April 29, 2017 | shares	1,352,212
Outstanding as of January 28, 2017, Weighted-Average Exercise Price | $ / shares	$ 5.67
Options granted, Weighted-Average Exercise Price | $ / shares	1.25
Options exercised, Weighted-Average Exercise Price | $ / shares	0
Options forfeited, Weighted-Average Exercise Price | $ / shares	7.34
Options expired, Weighted-Average Exercise Price | $ / shares	10
Outstanding as of April 29, 2017 | $ / shares	5.66
Options vested and expected to vest as of April 29, 2017, Weighted-Average Exercise Price | $ / shares	5.81
Exercisable as of April 29, 2017, Weighted-Average Exercise Price | $ / shares	$ 8.22
Outstanding as of April 29, 2017, Weighted Average Remaining Contractual Term	4 years 6 months
Options vested and expected to vest as of April 29, 2017, Weighted Average Remaining Contractual Term	4 years 4 months 24 days
Exercisable as of April 29, 2017, Weighted Average Remaining Contractual Term	3 years 4 months 24 days

Stock Options and Stock-Based31

Stock Options and Stock-Based Compensation - Additional Information (Detail) - $ / shares	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of options granted	$ 0.41	$ 0.50

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016
Income Tax Disclosure [Line Items]
U.S. income taxes at statutory federal rate	35.00%	35.00%
Effective income tax rate	54.70%	3.30%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016	Jan. 28, 2017
Related Party Transaction [Line Items]
Indebtedness held by Parent and affiliates	$ 60.6		$ 60.6
Interest expense related to indebtedness held by Parent and affiliates	$ 0	$ 6.1

Segment Information - Additiona

Segment Information - Additional Information (Detail) $ in Thousands	3 Months Ended
	Apr. 29, 2017USD ($)Segment	Apr. 30, 2016USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment	2
Severance and transaction-related costs	$ 143	$ 1,573
North America
Segment Reporting Information [Line Items]
Severance and transaction-related costs	0	1,300
Europe
Segment Reporting Information [Line Items]
Severance and transaction-related costs	$ 100	$ 300

Net Sales, Depreciation and Amo

Net Sales, Depreciation and Amortization and Operating Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016
Segment Reporting Information [Line Items]
Net sales	$ 299,621	$ 299,647
Depreciation and amortization	11,203	14,060
Severance and transaction-related costs	143	1,573
Operating income (loss)	28,676	14,994
Interest expense, net	43,580	55,079
Consolidated loss before income tax benefit	(14,904)	(40,085)
Operating Segments
Segment Reporting Information [Line Items]
Operating income (loss)	28,819	16,567
North America
Segment Reporting Information [Line Items]
Net sales	195,960	199,306
Depreciation and amortization	7,102	9,095
Severance and transaction-related costs	0	1,300
North America | Operating Segments
Segment Reporting Information [Line Items]
Operating income (loss)	25,710	24,571
Europe
Segment Reporting Information [Line Items]
Net sales	103,661	100,341
Depreciation and amortization	4,101	4,965
Severance and transaction-related costs	100	300
Europe | Operating Segments
Segment Reporting Information [Line Items]
Operating income (loss)	$ 3,109	$ (8,004)

Supplemental Financial Inform36

Supplemental Financial Information - Additional Information (Detail) - Issuer	Apr. 29, 2017	Mar. 15, 2013	Sep. 20, 2012	Mar. 12, 2012	Feb. 28, 2012
Debt Instrument [Line Items]
Percentage of ownership of domestic subsidiaries	100.00%
2012 Notes
Debt Instrument [Line Items]
Long-term Debt, interest rate			9.00%	9.00%	9.00%
2013 Notes
Debt Instrument [Line Items]
Long-term Debt, interest rate		6.125%

Condensed Consolidating Balance

Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Apr. 29, 2017	Jan. 28, 2017	Apr. 30, 2016	Jan. 30, 2016
Current assets:
Cash and cash equivalents	$ 25,737	$ 55,792	$ 48,888	$ 18,871
Inventories	140,938	130,239
Prepaid expenses	16,924	14,642
Other current assets	26,809	25,270
Total current assets	210,408	225,943
Property and equipment:
Furniture, fixtures and equipment	220,369	218,804
Leasehold improvements	297,681	297,636
Total property and equipment	518,050	516,440
Accumulated depreciation and amortization	(389,476)	(381,975)
Total property and equipment, net	128,574	134,465
Leased property under capital lease:
Land and building	18,055	18,055
Accumulated depreciation and amortization	(6,539)	(6,313)
Total leased property under capital lease	11,516	11,742
Goodwill	1,132,575	1,132,575
Intangible assets, net	454,331	454,956
Other assets	41,052	40,525
Total other noncurrent assets	1,627,958	1,628,056
Total assets	1,978,456	2,000,206
Current liabilities:
Current portion of long-term debt, net		18,405
Trade accounts payable	69,726	69,731
Income taxes payable	5,353	6,083
Accrued interest payable	24,003	53,266
Accrued expenses and other current liabilities	78,351	87,146
Total current liabilities	177,433	234,631
Long-term debt, net	2,115,167	2,118,653
Revolving credit facility, net	57,043	3,925
Obligation under capital lease	16,289	16,388
Deferred tax liability	91,900	99,255
Deferred rent expense	33,917	34,300
Unfavorable lease obligations and other long-term liabilities	8,800	10,376
Total Non current liabilities	2,323,116	2,282,897
Stockholder's equity (deficit):
Common stock	0	0
Additional paid in capital	630,558	630,496
Accumulated other comprehensive income (loss), net of tax	(49,956)	(51,881)
Accumulated deficit	(1,102,695)	(1,095,937)
Total stockholder's deficit	(522,093)	(517,322)
Total liabilities and stockholder's deficit	1,978,456	2,000,206
Eliminations
Leased property under capital lease:
Intercompany receivables	(397,614)	(349,921)
Investment in subsidiaries	(1,541,287)	(1,498,108)
Intangible assets, net	(84,634)	(84,634)
Total other noncurrent assets	(2,023,535)	(1,932,663)
Total assets	(2,023,535)	(1,932,663)
Current liabilities:
Intercompany payables	(397,614)	(349,923)
Total Non current liabilities	(397,614)	(349,923)
Stockholder's equity (deficit):
Common stock	(369)	(369)
Additional paid in capital	(2,287,535)	(2,287,537)
Accumulated other comprehensive income (loss), net of tax	49,797	52,249
Accumulated deficit	612,186	652,917
Total stockholder's deficit	(1,625,921)	(1,582,740)
Total liabilities and stockholder's deficit	(2,023,535)	(1,932,663)
Issuer
Current assets:
Cash and cash equivalents	4,173	3,038	17,769	2,664
Prepaid expenses	1,314	463
Other current assets	83
Total current assets	5,570	3,501
Property and equipment:
Furniture, fixtures and equipment	5,817	5,817
Leasehold improvements	1,315	1,315
Total property and equipment	7,132	7,132
Accumulated depreciation and amortization	(5,313)	(5,121)
Total property and equipment, net	1,819	2,011
Leased property under capital lease:
Investment in subsidiaries	1,583,925	1,541,321
Intangible assets, net	188,100	188,100
Other assets	1,144	1,066
Total other noncurrent assets	1,773,169	1,730,487
Total assets	1,780,558	1,735,999
Current liabilities:
Current portion of long-term debt, net		18,405
Trade accounts payable	1,073	1,719
Accrued interest payable	23,322	52,667
Accrued expenses and other current liabilities	11,290	14,474
Total current liabilities	35,685	87,265
Intercompany payables	397,614	349,923
Long-term debt, net	1,812,309	1,812,208
Revolving credit facility, net	57,043	3,925
Total Non current liabilities	2,266,966	2,166,056
Stockholder's equity (deficit):
Additional paid in capital	630,558	630,496
Accumulated other comprehensive income (loss), net of tax	(49,956)	(51,881)
Accumulated deficit	(1,102,695)	(1,095,937)
Total stockholder's deficit	(522,093)	(517,322)
Total liabilities and stockholder's deficit	1,780,558	1,735,999
Guarantors
Current assets:
Cash and cash equivalents	3,938	3,005	3,794	3,394
Inventories	79,026	74,307
Prepaid expenses	1,255	1,397
Other current assets	15,367	14,281
Total current assets	99,586	92,990
Property and equipment:
Furniture, fixtures and equipment	137,672	137,382
Leasehold improvements	183,698	183,910
Total property and equipment	321,370	321,292
Accumulated depreciation and amortization	(248,460)	(244,158)
Total property and equipment, net	72,910	77,134
Leased property under capital lease:
Land and building	18,055	18,055
Accumulated depreciation and amortization	(6,539)	(6,313)
Total leased property under capital lease	11,516	11,742
Intercompany receivables	314,426	288,796
Investment in subsidiaries	(42,638)	(43,213)
Goodwill	987,517	987,517
Intangible assets, net	149,739	149,804
Other assets	4,240	4,342
Total other noncurrent assets	1,413,284	1,387,246
Total assets	1,597,296	1,569,112
Current liabilities:
Trade accounts payable	23,542	21,048
Income taxes payable	1,517	1,160
Accrued expenses and other current liabilities	31,504	33,517
Total current liabilities	56,563	55,725
Long-term debt, net	146,887	149,302
Obligation under capital lease	16,289	16,388
Deferred tax liability	93,554	93,554
Deferred rent expense	23,145	23,424
Unfavorable lease obligations and other long-term liabilities	8,800	10,373
Total Non current liabilities	288,675	293,041
Stockholder's equity (deficit):
Common stock	367	367
Additional paid in capital	1,520,543	1,520,544
Accumulated other comprehensive income (loss), net of tax	(6,455)	(5,187)
Accumulated deficit	(262,397)	(295,378)
Total stockholder's deficit	1,252,058	1,220,346
Total liabilities and stockholder's deficit	1,597,296	1,569,112
Non-Guarantors
Current assets:
Cash and cash equivalents	17,626	49,749	$ 27,325	$ 12,813
Inventories	61,912	55,932
Prepaid expenses	14,355	12,782
Other current assets	11,359	10,989
Total current assets	105,252	129,452
Property and equipment:
Furniture, fixtures and equipment	76,880	75,605
Leasehold improvements	112,668	112,411
Total property and equipment	189,548	188,016
Accumulated depreciation and amortization	(135,703)	(132,696)
Total property and equipment, net	53,845	55,320
Leased property under capital lease:
Intercompany receivables	83,188	61,125
Goodwill	145,058	145,058
Intangible assets, net	201,126	201,686
Other assets	35,668	35,117
Total other noncurrent assets	465,040	442,986
Total assets	624,137	627,758
Current liabilities:
Trade accounts payable	45,111	46,964
Income taxes payable	3,836	4,923
Accrued interest payable	681	599
Accrued expenses and other current liabilities	35,557	39,155
Total current liabilities	85,185	91,641
Long-term debt, net	155,971	157,143
Deferred tax liability	(1,654)	5,701
Deferred rent expense	10,772	10,876
Unfavorable lease obligations and other long-term liabilities		3
Total Non current liabilities	165,089	173,723
Stockholder's equity (deficit):
Common stock	2	2
Additional paid in capital	766,992	766,993
Accumulated other comprehensive income (loss), net of tax	(43,342)	(47,062)
Accumulated deficit	(349,789)	(357,539)
Total stockholder's deficit	373,863	362,394
Total liabilities and stockholder's deficit	$ 624,137	$ 627,758

Condensed Consolidating Stateme

Condensed Consolidating Statement of Operations and Comprehensive Loss (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 29, 2017		Apr. 30, 2016
Net sales	$ 299,621		$ 299,647
Cost of sales, occupancy and buying expenses (exclusive of depreciation and amortization shown separately below)	151,788		158,353
Gross profit (deficit)	147,833		141,294
Other expenses:
Selling, general and administrative	110,512		107,722
Depreciation and amortization	11,203		14,060
Severance and transaction-related costs	143		1,573
Other (income) expense	(2,701)		2,945
Total other expenses	119,157		126,300
Operating income (loss)	28,676		14,994
Interest expense, net	43,580		55,079
Income (loss) before income taxes	(14,904)		(40,085)
Income tax benefit	(8,146)		(1,327)
Income (loss) from continuing operations	(6,758)		(38,758)
Net income (loss)	(6,758)		(38,758)
Foreign currency translation adjustments	44		2,860
Net gain (loss) on intra-entity foreign currency transactions, net of tax	1,881		10,195
Other comprehensive income (loss)	1,925	[1]	13,055
Comprehensive income (loss)	(4,833)		(25,703)
Issuer
Cost of sales, occupancy and buying expenses (exclusive of depreciation and amortization shown separately below)	3,162		2,725
Gross profit (deficit)	(3,162)		(2,725)
Other expenses:
Selling, general and administrative	5,753		4,771
Depreciation and amortization	191		237
Severance and transaction-related costs			1,348
Other (income) expense	(1,937)		(1,411)
Total other expenses	4,007		4,945
Operating income (loss)	(7,169)		(7,670)
Interest expense, net	40,270		54,269
Income (loss) before income taxes	(47,439)		(61,939)
Income (loss) from continuing operations	(47,439)		(61,939)
Equity in earnings (loss) of subsidiaries	40,681		23,181
Net income (loss)	(6,758)		(38,758)
Foreign currency translation adjustments	44		2,860
Net gain (loss) on intra-entity foreign currency transactions, net of tax	1,881		10,195
Other comprehensive income (loss)	1,925		13,055
Comprehensive income (loss)	(4,833)		(25,703)
Guarantors
Net sales	182,070		186,024
Cost of sales, occupancy and buying expenses (exclusive of depreciation and amortization shown separately below)	86,199		91,252
Gross profit (deficit)	95,871		94,772
Other expenses:
Selling, general and administrative	57,285		55,413
Depreciation and amortization	6,326		8,314
Severance and transaction-related costs	57		(3)
Other (income) expense	(192)		16
Total other expenses	63,476		63,740
Operating income (loss)	32,395		31,032
Interest expense, net	526		540
Income (loss) before income taxes	31,869		30,492
Income tax benefit	(1,064)		(1,339)
Income (loss) from continuing operations	32,933		31,831
Equity in earnings (loss) of subsidiaries	46		(1,664)
Net income (loss)	32,979		30,167
Foreign currency translation adjustments	(412)		1,486
Net gain (loss) on intra-entity foreign currency transactions, net of tax	(856)		2,389
Other comprehensive income (loss)	(1,268)		3,875
Comprehensive income (loss)	31,711		34,042
Non-Guarantors
Net sales	117,551		113,623
Cost of sales, occupancy and buying expenses (exclusive of depreciation and amortization shown separately below)	62,427		64,376
Gross profit (deficit)	55,124		49,247
Other expenses:
Selling, general and administrative	47,474		47,538
Depreciation and amortization	4,686		5,509
Severance and transaction-related costs	86		228
Other (income) expense	(572)		4,340
Total other expenses	51,674		57,615
Operating income (loss)	3,450		(8,368)
Interest expense, net	2,784		270
Income (loss) before income taxes	666		(8,638)
Income tax benefit	(7,082)		12
Income (loss) from continuing operations	7,748		(8,650)
Net income (loss)	7,748		(8,650)
Foreign currency translation adjustments	1,837		(2,706)
Net gain (loss) on intra-entity foreign currency transactions, net of tax	1,883		10,278
Other comprehensive income (loss)	3,720		7,572
Comprehensive income (loss)	11,468		(1,078)
Eliminations
Other expenses:
Equity in earnings (loss) of subsidiaries	(40,727)		(21,517)
Net income (loss)	(40,727)		(21,517)
Foreign currency translation adjustments	(1,425)		1,220
Net gain (loss) on intra-entity foreign currency transactions, net of tax	(1,027)		(12,667)
Other comprehensive income (loss)	(2,452)		(11,447)
Comprehensive income (loss)	$ (43,179)		$ (32,964)
[1]	Represents foreign currency items and $5.7 million of other income associated with expired derivative instruments

Condensed Consolidating State39

Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended
	Apr. 29, 2017	Apr. 30, 2016
Cash flows from operating activities:
Net income (loss)	$ (6,758)	$ (38,758)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	11,203	14,060
Amortization of lease rights and other assets	1,069	658
Amortization of debt issuance costs	2,187	2,102
Accretion of debt premium	(721)	(662)
Net accretion of unfavorable lease obligations	(64)	(62)
Loss on sale/retirement of property and equipment, net	118	102
Stock-based compensation expense (benefit)	62	(33)
(Increase) decrease in:
Inventories	(9,694)	(7,187)
Prepaid expenses	(1,371)	(14,220)
Other assets	(1,434)	(1,478)
Increase (decrease) in:
Trade accounts payable	(1,069)	1,134
Income taxes payable	(962)	(1,009)
Accrued interest payable	(29,263)	(25,322)
Accrued expenses and other liabilities	(10,834)	(15,153)
Deferred income taxes	(7,597)	(355)
Deferred rent expense	(525)	(611)
Net cash provided by (used in) operating activities	(55,653)	(86,794)
Cash flows from investing activities:
Acquisition of property and equipment	(3,365)	(4,215)
Acquisition of intangible assets/lease rights	(28)	(91)
Net cash used in investing activities	(3,393)	(4,306)
Cash flows from financing activities:
Proceeds from revolving credit facilities	69,000	116,864
Payments on revolving credit facilities	(16,200)
Payments on short-term debt	(18,420)
Payments on long-term debt	(4,272)
Payment of debt issuance costs	(347)	(44)
Principal payments on capital lease	(76)	(58)
Net cash provided by (used in) financing activities	29,685	116,762
Effect of foreign currency exchange rate changes on cash and cash equivalents	(694)	4,355
Net increase (decrease) in cash and cash equivalents	(30,055)	30,017
Cash and cash equivalents, at beginning of period	55,792	18,871
Cash and cash equivalents, at end of period	25,737	48,888
Eliminations
Cash flows from operating activities:
Net income (loss)	(40,727)	(21,517)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Loss (equity) in earnings of subsidiaries	40,727	21,517
Issuer
Cash flows from operating activities:
Net income (loss)	(6,758)	(38,758)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Loss (equity) in earnings of subsidiaries	(40,681)	(23,181)
Depreciation and amortization	191	237
Amortization of debt issuance costs	1,899	2,013
Accretion of debt premium	(721)	(662)
Stock-based compensation expense (benefit)	58	(44)
(Increase) decrease in:
Prepaid expenses	(850)	(704)
Other assets	(158)	17
Increase (decrease) in:
Trade accounts payable	(646)	47
Accrued interest payable	(29,345)	(25,343)
Accrued expenses and other liabilities	(3,184)	(214)
Net cash provided by (used in) operating activities	(80,195)	(86,592)
Cash flows from investing activities:
Acquisition of property and equipment		(170)
Net cash used in investing activities		(170)
Cash flows from financing activities:
Proceeds from revolving credit facilities	69,000	68,000
Payments on revolving credit facilities	(16,200)
Payments on short-term debt	(18,420)
Payments on long-term debt	(743)
Intercompany activity, net	47,693	33,867
Net cash provided by (used in) financing activities	81,330	101,867
Net increase (decrease) in cash and cash equivalents	1,135	15,105
Cash and cash equivalents, at beginning of period	3,038	2,664
Cash and cash equivalents, at end of period	4,173	17,769
Guarantors
Cash flows from operating activities:
Net income (loss)	32,979	30,167
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Loss (equity) in earnings of subsidiaries	(46)	1,664
Depreciation and amortization	6,326	8,314
Net accretion of unfavorable lease obligations	(63)	(62)
Loss on sale/retirement of property and equipment, net	118	98
(Increase) decrease in:
Inventories	(4,719)	(57)
Prepaid expenses	142	(12,043)
Other assets	(993)	(1,179)
Increase (decrease) in:
Trade accounts payable	2,380	(5,165)
Income taxes payable	367	(161)
Accrued expenses and other liabilities	(3,479)	(7,501)
Deferred rent expense	(280)	(547)
Net cash provided by (used in) operating activities	32,732	13,528
Cash flows from investing activities:
Acquisition of property and equipment	(1,855)	(2,769)
Acquisition of intangible assets/lease rights	(28)	(11)
Net cash used in investing activities	(1,883)	(2,780)
Cash flows from financing activities:
Payments on long-term debt	(2,415)
Principal payments on capital lease	(76)	(58)
Intercompany activity, net	(25,629)	(15,895)
Net cash provided by (used in) financing activities	(28,120)	(15,953)
Effect of foreign currency exchange rate changes on cash and cash equivalents	(1,796)	5,605
Net increase (decrease) in cash and cash equivalents	933	400
Cash and cash equivalents, at beginning of period	3,005	3,394
Cash and cash equivalents, at end of period	3,938	3,794
Non-Guarantors
Cash flows from operating activities:
Net income (loss)	7,748	(8,650)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	4,686	5,509
Amortization of lease rights and other assets	1,069	658
Amortization of debt issuance costs	288	89
Net accretion of unfavorable lease obligations	(1)
Loss on sale/retirement of property and equipment, net		4
Stock-based compensation expense (benefit)	4	11
(Increase) decrease in:
Inventories	(4,975)	(7,130)
Prepaid expenses	(663)	(1,473)
Other assets	(283)	(316)
Increase (decrease) in:
Trade accounts payable	(2,803)	6,252
Income taxes payable	(1,329)	(848)
Accrued interest payable	82	21
Accrued expenses and other liabilities	(4,171)	(7,438)
Deferred income taxes	(7,597)	(355)
Deferred rent expense	(245)	(64)
Net cash provided by (used in) operating activities	(8,190)	(13,730)
Cash flows from investing activities:
Acquisition of property and equipment	(1,510)	(1,276)
Acquisition of intangible assets/lease rights		(80)
Net cash used in investing activities	(1,510)	(1,356)
Cash flows from financing activities:
Proceeds from revolving credit facilities		48,864
Payments on long-term debt	(1,114)
Payment of debt issuance costs	(347)	(44)
Intercompany activity, net	(22,064)	(17,972)
Net cash provided by (used in) financing activities	(23,525)	30,848
Effect of foreign currency exchange rate changes on cash and cash equivalents	1,102	(1,250)
Net increase (decrease) in cash and cash equivalents	(32,123)	14,512
Cash and cash equivalents, at beginning of period	49,749	12,813
Cash and cash equivalents, at end of period	$ 17,626	$ 27,325

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) $ in Thousands	Jun. 06, 2017USD ($)
Subsequent Event
Subsequent Event [Line Items]
Compensation for services	$ 32,000