Exhibit 12.1
Claire's Stores, Inc.
Computation of Ratio of Earnings to Fixed Charges
(Dollars in thousands)
Fiscal Year Ended
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February 3, January 28, January 29, January 31, February 1,
2007 2006 2005 2004 2003
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Earnings:
Income (loss) from continuing operations
before income taxes $267,713 $257,412 $219,903 $173,198 $121,235
Fixed charges 64,489 59,836 58,765 58,476 56,968
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Earnings adjusted for fixed charges $332,202 $317,248 $278,668 $231,674 $178,203
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Fixed charges:
Interest expense $ 118 $ 125 $ 193 $ 2,561 $ 4,435
Portion of rental expense representative
of interest (1) 64,371 59,711 58,572 55,915 52,533
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Total fixed charges $ 64,489 $ 59,836 $ 58,765 $ 58,476 $ 56,968
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Ratio of earnings to fixed charges 5.2 5.3 4.7 4.0 3.1
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Estimate of interest within rental expense:
Total rental expense $195,063 $180,941 $177,490 $169,439 $159,192
Estimated percentage (based on SEC guidelines) 33% 33% 33% 33% 33%
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Estimated interest within rental expense 64,371 59,711 58,572 55,915 52,533
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$ 64,489 $ 59,836 $ 58,765 $ 58,476 $ 56,968
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(Dollars in thousands) May 6, 2007 Feb. 4, 2007 Six Months Three Months May 29, 2007
Through Through Ended Ended Through
May 28, 2007 May 28, 2007 July 29, 2006 July 29, 2006 August 4, 2007
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Earnings:
Income (loss) from continuing operations
before income taxes $(63,682) $(22,661) $ 98,082 $53,618 $ (553)
Fixed charges 5,868 23,204 31,481 16,197 48,895
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Earnings adjusted for fixed charges $(57,814) $ 543 $129,563 $69,815 $48,342
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Fixed charges:
Interest expense $ 19 $ 86 $ 59 $ 3 $36,840
Portion of rental expense representative
of interest (1) 5,849 23,118 31,422 16,194 12,055
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Total fixed charges $ 5,868 $ 23,204 $ 31,481 $16,197 $48,895
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Ratio of earnings to fixed charges (9.9) -- 4.1 4.3 1.0
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Estimate of interest within rental expense:
Total rental expense $ 17,724 $ 70,055 $ 95,219 $49,074 $36,529
Estimated percentage (based on SEC guidelines) 33% 33% 33% 33% 33%
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Estimated interest within rental expense 5,849 23,118 31,422 16,194 12,055
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$ 5,868 $ 23,204 $ 31,481 $16,197 $48,895
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(1) One third of rental expense is deemed to be representative of interest.