Claire's Posts 3-Cent Beat

Claire's Stores'(CLE Quote) first-quarter earnings jumped 7% from a year ago, beating estimates, thanks to brisk sales of costume jewelry and accessories to its teenage clientele.

The company earned $29.7 million, or 30 cents a share, in the quarter, compared with $27.7 million, or 28 cents a share, a year ago. Sales rose 7.5% from a year ago to $302.7 million. Analysts had been forecasting earnings of 27 cents a share in the quarter on sales of $302.2 million, according to Thomson First Call.

"The jewelry business is continuing to show strength and staying power and the profusion of vibrant colors among both our costume jewelry and accessory selections is being well received by customers purchasing new items to keep their wardrobes looking fresh and up to the minute," Claire's said. ...