Attached files
| file | filename |
|---|---|
| 8-K - 8-K - CLAIRES STORES INC | d609663d8k.htm |
EXHIBIT 99.1
Claire’s (Gibraltar) Holdings Limited
Unaudited Condensed Consolidated Balance Sheet
(in thousands)
| May 5, 2018 | ||||
| ASSETS |
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| Current assets: |
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| Cash and cash equivalents |
$ | 18,118 | ||
| Inventories |
52,427 | |||
| Prepaid expenses |
15,339 | |||
| Other current assets |
11,761 | |||
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|
|
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| Total current assets |
97,645 | |||
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|
|
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| Property and equipment: |
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| Furniture, fixtures and equipment |
73,607 | |||
| Leasehold improvements |
102,605 | |||
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|
|
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| 176,212 | ||||
| Accumulated depreciation and amortization |
(134,299 | ) | ||
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|
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| 41,913 | ||||
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|
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| Intercompany receivables |
161,570 | |||
| Goodwill |
145,058 | |||
| Intangible assets, net |
199,693 | |||
| Other assets |
42,923 | |||
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| 549,244 | ||||
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|
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| Total assets |
$ | 688,802 | ||
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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 |
$ | 87,298 | ||
| Trade accounts payable |
32,559 | |||
| Income taxes payable |
2,519 | |||
| Accrued interest payable |
794 | |||
| Accrued expenses and other current liabilities |
35,534 | |||
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|
|
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| Total current liabilities |
158,704 | |||
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|
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| Long-term debt, net |
65,037 | |||
| Deferred tax liability |
4,227 | |||
| Deferred rent expense |
9,725 | |||
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|
|
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| 78,989 | ||||
|
|
|
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| Stockholder’s equity: |
||||
| Common stock |
2 | |||
| Additional paid in capital |
770,859 | |||
| Accumulated other comprehensive loss, net of tax |
(35,657 | ) | ||
| Accumulated deficit |
(284,095 | ) | ||
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|
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| 451,109 | ||||
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|
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| Total liabilities and stockholder’s equity |
$ | 688,802 | ||
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Claire’s (Gibraltar) Holdings Limited
Unaudited Condensed Consolidated Statement of Operations and Comprehensive Loss
(in thousands)
| Three Months Ended |
||||
| May 5, 2018 | ||||
| Net sales |
$ | 104,072 | ||
| Cost of sales, occupancy and buying expenses (exclusive of depreciation and amortization shown separately below) |
57,342 | |||
|
|
|
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| Gross profit |
46,730 | |||
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|
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| Other expenses: |
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| Selling, general and administrative |
47,732 | |||
| Depreciation and amortization |
4,544 | |||
| Severance |
288 | |||
| Other expense, net |
1,036 | |||
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|
|
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| 53,600 | ||||
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|
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| Operating loss |
(6,870 | ) | ||
| Interest expense, net |
2,476 | |||
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|
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| Loss before income tax benefit |
(9,346 | ) | ||
| Income tax benefit |
(8,187 | ) | ||
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|
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| Net loss |
(1,159 | ) | ||
| Foreign currency translation adjustments |
(2,113 | ) | ||
| Net loss on intra-entity foreign currency transactions, net of tax |
(5,708 | ) | ||
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| Other comprehensive loss |
(7,821 | ) | ||
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| Comprehensive loss |
$ | (8,980 | ) | |
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2
CLSIP Holdings LLC
Unaudited Condensed Statement of Cash Flows
(in thousands)
| Three Months Ended |
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| May 5, 2018 | ||||
| Net cash provided by operating activities |
$ | — | ||
| Net cash provided by investing activities |
— | |||
| Net cash provided by financing activities |
— | |||
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|
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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)
| Three Months Ended |
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| May 5, 2018 | ||||
| Net loss |
$ | (2,889 | ) | |
| Non-cash pay-in-kind interest expense |
2,889 | |||
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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 |
(3,008 | ) | ||
| Intercompany activity, net |
(2,992 | ) | ||
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| Net cash used in financing activities |
(6,000 | ) | ||
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| Net decrease in cash and cash equivalents |
(6,000 | ) | ||
| Cash and cash equivalents, at beginning of period |
6,500 | |||
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| Cash and cash equivalents, at end of period |
$ | 500 | ||
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