Attached files
| file | filename |
|---|---|
| 8-K - 8-K - CLAIRES STORES INC | d545975d8k.htm |
EXHIBIT 99.1
Claire’s (Gibraltar) Holdings Limited
Unaudited Condensed Consolidated Balance Sheet
(in thousands)
| February 3, 2018 |
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| ASSETS |
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| Current assets: |
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| Cash and cash equivalents |
$ | 27,521 | ||
| Inventories |
53,478 | |||
| Prepaid expenses |
14,539 | |||
| Other current assets |
11,969 | |||
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|
|
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| Total current assets |
107,507 | |||
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| Property and equipment: |
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| Furniture, fixtures and equipment |
77,232 | |||
| Leasehold improvements |
107,628 | |||
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| 184,860 | ||||
| Accumulated depreciation and amortization |
(138,454 | ) | ||
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| 46,406 | ||||
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| Intercompany receivables |
173,560 | |||
| Goodwill |
145,058 | |||
| Intangible assets, net |
203,932 | |||
| Other assets |
38,361 | |||
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| 560,911 | ||||
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| Total assets |
$ | 714,824 | ||
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| LIABILITIES AND STOCKHOLDER’S EQUITY |
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| Current liabilities: |
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| Current portion of long-term debt, net |
$ | 50,457 | ||
| Trade accounts payable |
38,352 | |||
| Income taxes payable |
3,217 | |||
| Accrued interest payable |
374 | |||
| Accrued expenses and other current liabilities |
38,996 | |||
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|
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| Total current liabilities |
131,396 | |||
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| Long-term debt, net |
106,426 | |||
| Deferred tax liability |
6,651 | |||
| Deferred rent expense |
10,265 | |||
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| 123,342 | ||||
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|
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| Stockholder’s equity: |
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| Common stock |
2 | |||
| Additional paid in capital |
770,859 | |||
| Accumulated other comprehensive loss, net of tax |
(27,838 | ) | ||
| Accumulated deficit |
(282,937 | ) | ||
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| 460,086 | ||||
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| Total liabilities and stockholder’s equity |
$ | 714,824 | ||
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Claire’s (Gibraltar) Holdings Limited
Unaudited Condensed Consolidated Statement of Operations and Comprehensive Income
(in thousands)
| Twelve Months Ended February 3, 2018 |
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| Net sales |
$ | 490,772 | ||
| Cost of sales, occupancy and buying expenses (exclusive of depreciation and amortization shown separately below) |
249,597 | |||
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| Gross profit |
241,175 | |||
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| Other expenses: |
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| Selling, general and administrative |
187,444 | |||
| Depreciation and amortization |
16,641 | |||
| Impairment of assets |
361 | |||
| Severance |
1,334 | |||
| Other income, net |
(10,279 | ) | ||
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| 195,501 | ||||
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| Operating income |
45,674 | |||
| Interest expense, net |
11,244 | |||
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| Income before income tax expense |
34,430 | |||
| Income tax expense |
4,498 | |||
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| Net income |
29,932 | |||
| Foreign currency translation adjustments |
7,600 | |||
| Net gain on intra-entity foreign currency transactions, net of tax |
16,946 | |||
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| Other comprehensive income |
24,546 | |||
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| Comprehensive income |
$ | 54,478 | ||
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CLSIP Holdings LLC
Unaudited Condensed Statement of Cash Flows
(in thousands)
| Twelve Months Ended February 3, 2018 |
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| Net cash provided by operating activities |
$ | — | ||
| Net cash provided by investing activities |
— | |||
| Net cash provided by financing activities |
— | |||
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| Net increase in cash and cash equivalents |
— | |||
| Cash and cash equivalents, at beginning of period |
— | |||
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| Cash and cash equivalents, at end of period |
$ | — | ||
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CLSIP LLC
Unaudited Condensed Statement of Cash Flows
(in thousands)
| Twelve Months Ended February 3, 2018 |
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| Net cash provided by operating activities |
$ | — | ||
| Net cash provided by investing activities |
— | |||
| Payments of unamortized interest related to long-term debt |
(5,373 | ) | ||
| Intercompany activity, net |
11,873 | |||
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| Net cash provided by financing activities |
6,500 | |||
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| Net increase in cash and cash equivalents |
6,500 | |||
| Cash and cash equivalents, at beginning of period |
— | |||
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| Cash and cash equivalents, at end of period |
$ | 6,500 | ||
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