Exhibit 99.1

NEWS BULLETIN RE: CLAIRE’S STORES, INC.

3 S.W. 129th AVENUE, PEMBROKE PINES, FLORIDA 33027 (954) 433-3900

CLAIRE’S STORES, INC. REPORTS RECORD
FOURTH QUARTER AND FULL FISCAL YEAR RESULTS;
FISCAL 2004 DILUTED NET INCOME PER SHARE
INCREASES 46 PERCENT TO $1.17 INCLUDING ONE-TIME CHARGE
AND 54 PERCENT TO $1.23 EXCLUDING THAT CHARGE

PEMBROKE PINES, Florida, March 11, 2004. Claire’s Stores, Inc. (NYSE:CLE) today announced financial results for the fourth quarter of Fiscal 2004 as well as for the full fiscal year, which ended January 31, 2004. In addition, the Company provided guidance relating to Fiscal 2005.

Fourth Quarter

Including a non-recurring after-tax charge of $5.7 million attributable to the retirement package granted to Rowland Schaefer, Chairman Emeritus, results for the fourth quarter of Fiscal 2004 were as follows. Income from continuing operations increased 22 percent to $52.0 million from $42.5 million in Fiscal 2003, which ended February 1, 2003. Net income for the fourth quarter of Fiscal 2004 was also $52.0 million, compared to net income of $40.2 million in the fourth quarter of Fiscal 2003, an increase of 29 percent. On a per share basis, diluted income from continuing operations during the fourth quarter of Fiscal 2004 rose to $0.53 per share compared to $0.43 per share in Fiscal 2003.

Excluding the effect of the retirement package granted to the Chairman Emeritus, income from continuing operations for the fourth quarter of Fiscal 2004 increased 36 percent to $57.7 million from $42.5 million in Fiscal 2003, which ended February 1, 2003. Net income for the fourth quarter of Fiscal 2004 was also $57.7 million (excluding that non-recurring charge), compared to net income of $40.2 million in the fourth quarter of Fiscal 2003, an increase of 43 percent. On a per share basis, diluted income from continuing operations during the fourth quarter of Fiscal 2004 rose to $0.58 per share, excluding the non-recurring after-tax retirement charge of approximately $0.06 per share, compared to $0.43 per share in Fiscal 2003. (See attached reconciliation located on Consolidated Statements of Income.)

For the fourth quarter of Fiscal 2004, net sales increased 13 percent to $364.0 million, compared with $322.4 million for the same period last year. Same store sales for the fourth quarter of Fiscal 2004 increased seven percent, on top of a nine percent increase in the fourth quarter of Fiscal 2003. Fourth quarter same store sales by brand were as follows:

• Claire’s North America: positive low double digits

• Claire’s Europe: negative mid single digits

• Icing by Claire’s: positive low double digits

Commenting on fourth quarter results, Co-Chairman and Co-Chief Executive Officer, Marla Schaefer, said, “Despite all the uncertainty surrounding the state of the economy and consumer

confidence, our business remained healthy throughout the fourth quarter. Business ramped up for the holidays and remained brisk in the post-holiday season. The significant improvement in our results relate primarily to increases in same store sales, which enabled us to leverage fixed costs, and from improved merchandise margins. Jewelry fell slightly as a percentage of sales when compared against accessories sales in the third fiscal quarter. This is a natural occurrence during the holiday season, when accessories play a bigger role in sales due to their appeal to gift buyers. In the post-holiday period, the jewelry/accessory mix once again tilted back to jewelry, resuming the pattern in effect since early last year. Demand is steady across all of our jewelry categories. Accessories are selling briskly as well, although hair accessories remained soft, which is to be expected given the robust interest in jewelry.”

Bonnie Schaefer, Co-Chairman and Co-Chief Executive Officer, offered additional commentary on the fourth fiscal quarter. “Claire’s Stores located in North America have performed well all year, but the truly noteworthy growth has come from our Icing by Claire’s stores. On both an absolute and same store sales basis, the improvements registered in the second half of Fiscal 2004 were significant. While we will continue refining the Icing concept, the changes put in place during the first half of Fiscal 2004 eliminated many of the shortcomings we had identified in Fiscal 2003 and set out to rectify. We are now working our way through the same process in Europe. Through intensive scrutiny of our European operations, we have identified areas we wish to address, and steps are now being implemented to improve the performance of our European stores.”

Full Year

Sales for Fiscal 2004 rose 13 percent to $1.13 billion from $1.0 billion, while gross profit margins increased by 230 basis points to 53.7 percent versus 51.4 percent. Same store sales increased seven percent, versus an increase of five percent in the prior fiscal year.

Including the one-time charge attributable to the retirement package granted to the Chairman Emeritus, income from continuing operations increased 48 percent, reaching $115.0 million compared to $78.0 million in Fiscal 2003. Net income as a percentage of sales was 10.2 percent, an increase of 240 basis points. On a diluted per share basis, net income rose to $1.17 from $0.80, an increase of 46 percent.

Excluding the one-time charge attributable to the retirement package, income from continuing operations increased 55 percent, reaching $120.7 million compared to $78.0 million in Fiscal 2003. Net income as a percentage of sales was 10.7 percent, an increase of 290 basis points. On a diluted per share basis, net income rose to $1.23 from $0.80, an increase of 54 percent. (See attached reconciliation located on Consolidated Statements of Income.)

Store Count: End of Fourth Quarter:

	January 31, 2004		February 1, 2003
Claire’s North America		1,649		1,635
Claire’s Europe		700		653
Icing by Claire’s		463		515
Claire’s Nippon		123		109
Total		2,935		2,912

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Business Outlook for the First Quarter and Full Fiscal Year – Fiscal 2005

First Quarter:

For the first quarter of Fiscal 2005, we are estimating revenues between $268 and $273 million, an increase of 12 to 14 percent. Same store sales are projected to rise by nine to ten percent. This follows an increase of eight percent in the first quarter of Fiscal 2004. Income from continuing operations is projected to reach $21 to $22 million, or $0.21 to $0.22 per diluted share.

Full Year:

For Fiscal 2005 in its entirety, the Company is projecting that revenues will grow by approximately seven to nine percent to $1.21 billion to $1.23 billion and that diluted EPS will reach $1.35 to $1.39 per share versus $1.23 per share. Same store sales are expected to grow by four to five percent.

Conference Call Information

The Company will host a conference call for the fourth quarter of Fiscal 2004 on March 11, 2004, at 10:00 a.m. (EST). The call in number is 312-470-0029 and the password is “Claires.” A replay will be available through March 19, 2004. The replay number is 402-998-0758 and the password is 25247. The conference call is also being archived until March 19th on the Company’s corporate website at http://www.clairestores.com, and can be accessed by clicking on the “Conference Calls” link located under “Financial Information”.

Company Overview

Claire’s Stores, Inc., is a leading international specialty retailer offering value-priced costume jewelry and accessories to fashion-aware tweens, teens and young adults through its two store concepts: Claire’s (North America and Europe) and Icing by Claire’s. As of January 31, 2004, Claire’s Stores, Inc. operated approximately 2,810 stores in the United States, the Caribbean, Puerto Rico, Canada, the United Kingdom, Ireland, Switzerland, Austria, Germany and France. Claire’s Stores, Inc. also operates through its subsidiary Claire’s Nippon, Co., Ltd., over 120 stores in Japan as a 50:50 joint venture with AEON, Co., Ltd. (fka JUSCO, Co. Ltd.).

Forward-looking Statements

This press release contains “forward-looking statements” which represent the Company’s expectations or beliefs with respect to future events. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those anticipated. Those factors include, without limitation, changes in consumer preferences and consumer spending for pre-teen and teen apparel and accessories, competition, general economic conditions, currency fluctuations, uncertainties generally associated with the specialty retailing business, and potential difficulties or delays in identifying, attracting and retaining qualified individuals to serve in senior management positions and uncertainty that definitive financial results may differ from preliminary financial results due to, among other things, final GAAP adjustments. These and other applicable risks, cautionary statements and factors that could cause

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actual results to differ from the Company’s forward-looking statements are included in the Company’s filings with the SEC, specifically as described in the Company’s annual report on Form 10-K for the fiscal year ended February 1, 2003. The Company undertakes no obligation to update or revise any forward-looking statements to reflect subsequent events or circumstances. The historical results contained in this press release are not necessarily indicative of the future performance of the Company.

Additional Information:

Note: Other Claire’s Stores, Inc. press releases, a corporate profile and most recent 10-K and 10-Q reports are available via Claire’s Internet home page: http://www.clairestores.com.

Contact Information: Marisa F. Jacobs, Vice President of Corporate Communications and Investor Relations Phone: (212) 594-3127, Fax: (212) 244-4237 or Email at marisa.jacobs@claires.com

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CLAIRE’S STORES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)

			January 31, 2004			February 1, 2003
ASSETS
Current assets:
	Cash and cash equivalents		$	224,630,000		$	195,482,000
	Inventories			92,498,000			88,334,000
	Prepaid expenses and other current assets			42,061,000			37,792,000
		Total current assets		359,189,000			321,608,000
Property and equipment:
	Land and buildings			18,151,000			18,041,000
	Furniture, fixtures & equipment			227,278,000			206,529,000
	Leasehold improvements			186,760,000			161,240,000
				432,189,000			385,810,000
	Less accumulated depreciation and amortization			(244,789,000	)		(211,328,000	)
				187,400,000			174,482,000
Intangible assets, net				42,348,000			29,576,000
Other assets				16,351,000			14,588,000
Goodwill				199,802,000			197,875,000
		Total Assets	$	805,090,000		$	738,129,000
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
	Current portion of long-term debt		$	—		$	40,916,000
	Accounts payable			57,643,000			43,185,000
	Income taxes payable			22,832,000			13,153,000
	Accrued expenses			58,951,000			43,756,000
		Total current liabilities		139,426,000			141,010,000
Long-term liabilities:
	Long-term debt, excluding current portion			—			70,000,000
	Deferred credits			18,000,000			16,263,000
	Deferred tax liability			17,630,000			9,602,000
		Total long-term liabilities		35,630,000			95,865,000
Stockholders’ equity:
	Class A stock — par value $0.05 per share			261,000			135,000
	Common stock — par value $0.05 per share			4,685,000			2,307,000
	Additional paid-in capital			46,976,000			32,834,000
	Other comprehensive income			20,109,000			7,219,000
	Retained earnings			558,003,000			458,759,000
	Total Stockholders’ Equity			630,034,000			501,254,000
		Total Liabilities and Stockholders’ Equity	$	805,090,000		$	738,129,000

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CLAIRE’S STORES, INC AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(UNAUDITED)

				Three Months Ended										Twelve Months Ended
				January 31,					February 1,					January 31,					February 1,
				2004					2003					2004					2003
	Net sales			$	363,983,000		100.0	%	$	322,394,000		100.0	%	$	1,132,834,000		100.0	%	$	1,001,537,00		100.0	%
	Cost of sales, occupancy, and buying expenses				157,297,000		43.2	%		142,990,000		44.4	%		524,455,000		46.3	%		486,858,000		48.6	%
	Gross Profit				206,686,000		56.8	%		179,404,000		55.6	%		608,379,000		53.7	%		514,679,000		51.4	%
	Other Expenses:
			Selling and general administrative expense		115,708,000		31.8	%		103,546,000		32.1	%		394,152,000		34.8	%		355,093,000		35.5	%
			Depreciation and amortization		10,998,000		3.0	%		9,905,000		3.1	%		41,451,000		3.7	%		37,897,000		3.8	%
			Interest expense		553,000		0.2	%		971,000		0.3	%		2,561,000		0.2	%		4,435,000		0.4	%
			Interest and other income		(1,152,000	)	(0.3	%)		(738,000	)	(0.2	%)		(4,207,000	)	(0.4	%)		(2,869,000	)	(0.3	%)
					126,107,000		34.6	%		113,684,000		35.3	%		433,957,000		38.3	%		394,556,000		39.4	%
	Income before income taxes				80,579,000		22.1	%		65,720,000		20.4	%		174,422,000		15.4	%		120,123,000		12.0	%
	Income taxes				28,540,000		7.8	%		23,180,000		7.2	%		59,384,000		5.2	%		42,144,000		4.2	%
	Income from continuing operations				52,039,000		14.3	%		42,540,000		13.2	%		115,038,000		10.2	%		77,979,000		7.8	%
Discontinued operation:
	Loss from disposal of discontinued operation				—		0.0	%		(2,313,000	)	(0.7	%)		—		0.0	%		(235,000	)	0.0	%
	Net income			$	52,039,000		14.3	%	$	40,227,000		12.5	%	$	115,038,000		10.2	%	$	77,744,000		7.8	%
Net Income per share:
Basic:
		Income from continuing operations		$	0.53				$	0.44				$	1.17				$	0.80
	Loss from disposal of discontinued operation				—					(0.02	)				—					—
Net Income per share				$	0.53				$	0.41				$	1.17				$	0.80
Diluted:
		Income from continuing operations		$	0.53				$	0.43				$	1.17				$	0.80
	Loss from disposal of discontinued operation				—					(0.02	)				—					—
Net Income per share				$	0.53				$	0.41				$	1.17				$	0.80
Weighted average number of shares outstanding:
			Basic		98,421,000					97,618,000					97,955,000					97,434,000
			Diluted		98,921,000					98,020,000					98,439,000					97,782,000
RECONCILIATION OF GAAP TO NON GAAP ITEMS:
Income from continuing operations — GAAP				$	52,039,000				$	42,540,000				$	115,038,000				$	77,979,000
Add back retirement package of Chairman Emeritus ($8,700,000 pretax, $5,655,000 net of tax)					5,655,000					—					5,655,000					—
Income from continuing operations — Non GAAP				$	57,694,000				$	42,540,000				$	120,693,000				$	77,979,000
Weighted average number of diluted shares outstanding					98,921,000					98,020,000					98,439,000					97,782,000
Income from continuing operations per diluted share — Non GAAP				$	0.58				$	0.43				$	1.23				$	0.80
Net income — GAAP				$	52,039,000				$	40,227,000				$	115,038,000				$	77,744,000
Add back retirement package of Chairman Emeritus ($8,700,000 pretax, $5,655,000 net of tax)					5,655,000					—					5,655,000					—
Net income — Non GAAP				$	57,694,000				$	40,227,000				$	120,693,000				$	77,744,000
Weighted average number of diluted shares outstanding					98,921,000					98,020,000					98,439,000					97,782,000
Net income per diluted share — Non GAAP				$	0.58				$	0.41				$	1.23				$	0.80

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