Exhibit 99.1

CLAIRE’S STORES, INC. REPORTS RECORD FOURTH QUARTER RESULTS -
SALES RISE BY NINE PERCENT
INCOME FROM CONTINUING OPERATIONS RISES 13 PERCENT;
FISCAL 2005 INCOME FROM CONTINUING OPERATIONS RISES 27 PERCENT;
FISCAL 2006 GUIDANCE OFFERED

PEMBROKE PINES, Florida, March 10, 2005. Claire’s Stores, Inc. (NYSE:CLE) today announced financial results for the fourth quarter of Fiscal 2005 and provided guidance with respect to Fiscal 2006.

Fourth Quarter

Results for the fourth quarter of Fiscal 2005, which ended January 29, 2005, were as follows: Income from continuing operations increased 13 percent to $58.7 million from $52.0 million during the comparable period in Fiscal 2004, which ended January 31, 2004. The latter amount includes an after-tax charge of $5.7 million attributable to the retirement package granted to the Company’s Chairman Emeritus. On a per share basis, diluted income from continuing operations rose 11 percent to $0.59. This compares to $0.53 per share in Fiscal 2004’s fourth quarter, which amount includes an after-tax retirement charge of approximately $0.06 per share. On a per share basis, diluted net income during the fourth quarter of Fiscal 2005 reached $0.56 per share.

For the final quarter of Fiscal 2005, net sales increased nine percent to a record $395.9 million, compared with $364.0 million for the same period last year. Comparable store sales for the fourth quarter of Fiscal 2005 increased five percent, after achieving a seven percent increase in the fourth quarter of Fiscal 2004.

Fourth quarter comparable store sales by brand were as follows:

•   Claire’s North America: positive mid single digits

•   Claire’s International: positive high single digits

•   Icing by Claire’s: positive high single digits

The fourth quarter Cost of sales, occupancy and buying expense line item of the Company’s income statement includes a non-cash accrual of $1.5 million (or $0.01 per diluted share). This amount is being recorded in response to our review of certain lease accounting policies and their application under GAAP, as set forth by the Securities and Exchange Commission on February 7, 2005 in their letter to the AICPA.

Commenting on fourth quarter results, Co-Chairman and Co-Chief Executive Officer Marla Schaefer said, “We are delighted that we have once again been able to deliver record results for the fourth quarter and full fiscal year. During the first half of the year, our business was exceptionally strong. However, the back half of the year became more challenging as holiday shopping patterns varied from prior years. When it became apparent that we would not meet our internal projections we moved quickly and decisively to reduce merchandise purchases, to control labor costs and to clear out excess inventory. As a result, we ended the year well positioned for the spring selling season.”

“Our fourth quarter results also include a charge associated with a discontinued operation. This reflects a settlement of litigation stemming from the sale of Lux Corporation, d/b/a Mr. Rags, in May 2002.”

“In Fiscal 2006, we will be facing very difficult comparisons, with respect to comparable store sales. Consequently our Fiscal 2006 projections are more modest than last year. However, we remain confident in our ability to continue driving revenues and net income, both through increased business at our existing stores and through store expansion.”

Bonnie Schaefer, Co-Chairman and Co-Chief Executive Officer, made the following comments. “The comparable store sales growth reported by our international division for the fourth quarter represents our best performance of the year, illustrating a course of steady improvement. Furthermore, growth in the positive high single digits illustrates a dramatic turnaround from last year’s fourth quarter, when our comparable store sales in the international division declined in the mid single digits.”

“Improved international performance was one of our major objectives for Fiscal 2005, and accordingly, a great deal of effort was devoted to this activity. We have spoken repeatedly about the exportation of North American best practices. The Claire’s brand is widely recognized and carries significant value among our core customers. Our objective is for the shopping experience abroad to mirror that in North America, in terms of providing our customers with a shopping experience that is fun and appealing. We do this by offering an unparalleled selection of costume jewelry and accessories at reasonable prices in a visually exciting setting. Our work is not complete, but we believe that Fiscal 2005 was a time in which great strides were made in terms of revitalizing our stores in Europe. We are excited about our planned expansion for Fiscal 2006, especially our entrance into two new countries, and look forward to continuing improvements in the performance of our international division.”

Fiscal 2005 Results
Fiscal 2005, net sales grew 13 percent to approximately $1.3 billion from approximately $1.1 billion in Fiscal 2004. Comparable store sales increased eight percent, compared with an increase of seven percent during Fiscal 2004.

Income from continuing operations increased to $146.3 million or $1.47 per diluted share, from $115.0 million or $1.17 per diluted share in Fiscal 2004, an increase of 27 percent, or 26% on a diluted per share basis. Net income increased to $143.1 million or $1.44 per diluted share, from $115.0 million or $1.17 per diluted share in Fiscal 2004, an increase of 24 percent, or 23% on a diluted per share basis.

Store Count: End of the Fourth Fiscal Quarter:

	January 29, 2005		January 31, 2004
Claire’s North America		1,674		1,649
Claire’s Europe		717		700
Icing by Claire’s		445		463
Claire’s Nippon		148		123
Total		2,984		2,935

Business Outlook for the First Quarter and Full Year – Fiscal 2006

First Quarter:
First quarter revenues are estimated to range between $299 and $304 million, an increase of six to eight percent. Comparable store sales are projected to rise by three to five percent, following an increase of 11 percent in the first quarter of Fiscal 2005. Net income is projected to reach $25 to $28 million, or $0.25 to $0.28 per diluted share. For the first quarter of Fiscal 2005, net income was $27.7 million, or $0.28 per diluted share.

Full Year:
For Fiscal 2006 in its entirety, the Company is projecting that revenues will grow by approximately five to seven percent to approximately $1.34 billion to $1.37 billion. Comparable store sales are expected to grow by two to four percent.

Gross margins are anticipated to improve by 15-20 basis points. SG&A is projected to decrease as a percentage of sales leading to a 40-60 basis point improvement.

Income from continuing operations is projected to reach $152 million to $163 million, or $1.54 to $1.65 on a diluted per share basis.

Conference Call Information
The Company will host its fourth quarter conference call on March 10, 2005, at 10:00 a.m. (EST). The call in number is 210-795-9101 and the password is “Claires.” A replay will be available through March 18, 2005. The replay number is 402-998-0463 and the password is 25247. The conference call is also being archived until March 18, 2005 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 and Icing by Claire’s. While the latter operates only in North America, Claire’s operates internationally. As of February 26, 2005, Claire’s Stores, Inc. operated approximately 2,840 stores in the United States, Canada, Puerto Rico, the Virgin Islands, the United Kingdom, Ireland, France, Switzerland, Austria and Germany. Claire’s Stores, Inc. also operates through its subsidiary, Claire’s Nippon, Co., Ltd., 150 stores in Japan as a 50:50 joint venture with AEON, Co., Ltd. (fka JUSCO, Co. Ltd.), a $25 billion specialty retailer headquartered in Japan. The Company also operates 57 stores in the Middle East and Turkey under a licensing and merchandising agreement with Al Shaya Co., Ltd. and four stores in South Africa under similar agreements with The House of Busby Limited.

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, teen and young adult apparel and accessories; competition; general economic, political and social conditions such as war, political unrest and terrorism; natural disasters; currency fluctuations and exchange rate adjustments; changes in laws; uncertainties generally associated with the specialty retailing business; disruptions in our supply of inventory; 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 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 January 31, 2004. 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 corporate website: http://www.clairestores.com. For information about our products and stores, please go to http://claires.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

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

	THREE MONTHS ENDED										TWELVE MONTHS ENDED
	January 29, 2005					January 31, 2004					January 29, 2005					January 31, 2004
Net sales	$	395,891,000		100.0	%	$	363,983,000		100.0	%	$	1,279,407,000		100.0	%	$	1,132,834,00		100.0	%
Cost of sales, occupancy and buying expenses		181,012,000		45.7	%		157,297,000		43.2	%		587,687,000		45.9	%		524,455,000		46.3	%
Gross profit		214,879,000		54.3	%		206,686,000		56.8	%		691,720,000		54.1	%		608,379,000		53.7	%
Other expenses (income):
Selling, general and administrative		117,502,000		29.7	%		115,708,000		31.8	%		430,867,000		33.7	%		394,152,000		34.8	%
Depreciation and amortization		11,841,000		3.0	%		10,998,000		3.0	%		44,882,000		3.5	%		41,451,000		3.7	%
Interest expense		46,000		0.0	%		553,000		0.2	%		193,000		0.0	%		2,561,000		0.2	%
Interest and other income		(2,079,000	)	(0.5	%)		(1,152,000	)	(0.3	%)		(5,858,000	)	(0.5	%)		(4,207,000	)	(0.4	%)
		127,310,000		32.2	%		126,107,000		34.6	%		470,084,000		36.7	%		433,957,000		38.3	%
Income before income taxes		87,569,000		22.1	%		80,579,000		22.1	%		221,636,000		17.3	%		174,422,000		15.4	%
Income taxes		28,909,000		7.3	%		28,540,000		7.8	%		75,377,000		5.9	%		59,384,000		5.2	%
Income from continuing operations		58,660,000		14.8	%		52,039,000		14.3	%		146,259,000		11.4	%		115,038,000		10.2	%
Discontinued operation:
(Loss) on disposal from discontinued operations, net of tax of $1,865,000, 0, $1,865,000 and 0 respectively		(3,135,000	)				—					(3,135,000	)				—
Gain (Loss) from discontinued operations		(3,135,000	)	(0.8	%)		—		0.0	%		(3,135,000	)	(0.2	%)		—		0.0	%
Net income	$	55,525,000		14.0	%	$	52,039,000		14.3	%	$	143,124,000		11.2	%	$	115,038,000		10.2	%
Net income per share:
Basic:
Income from continuing operations	$	0.59				$	0.53				$	1.48				$	1.17
Loss from disposal of discontinued operations		(0.03	)				—					(0.03	)				—
Gain (Loss) from discontinued operation		(0.03	)				—					(0.03	)				—
Net Income per share	$	0.56				$	0.53				$	1.45				$	1.17
Diluted:
Income from continuing operation	$	0.59				$	0.53				$	1.47				$	1.17
Loss from disposal of discontinued operation		(0.03	)				—					(0.03	)				—
Gain (Loss) from discontinued operation		(0.03	)				—					(0.03	)				—
Net Income per share	$	0.56				$	0.53				$	1.44				$	1.17
Weighted average number of shares outstanding:
Basic		98,979,000					98,421,000					98,937,000					97,955,000
Diluted		99,323,000					98,926,000					99,310,000					98,440,000

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

	January 29, 2005			January 31, 2004
ASSETS
Current assets:
Cash and cash equivalents	$	325,619,000		$	224,630,000
Inventories		110,072,000			92,498,000
Prepaid expenses and other current assets		57,635,000			42,895,000
Total current assets		493,326,000			360,023,000
Property and equipment:
Land and building		18,151,000			18,151,000
Furniture, fixtures and equipment		238,022,000			225,425,000
Leasehold improvements		211,721,000			186,760,000
		467,894,000			430,336,000
Less accumulated depreciation and amortization		(263,368,000	)		(244,484,000	)
		204,526,000			185,852,000
Intangible assets, net		52,474,000			43,896,000
Other assets		14,736,000			16,351,000
Goodwill		201,067,000			199,802,000
		268,277,000			260,049,000
Total Assets	$	966,129,000		$	805,924,000
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade accounts payable	$	41,994,000		$	37,754,000
Income taxes payable		30,600,000			29,148,000
Accrued expenses		94,344,000			76,424,000
Total current liabilities		166,938,000			143,326,000
Long-term liabilities:
Deferred tax liability		24,293,000			12,148,000
Deferred rent expense		19,211,000			18,000,000
Total long-term liabilities		43,504,000			30,148,000
Stockholders’ equity:
Class A stock — par value $0.05 per share		256,000			261,000
Common stock — par value $0.05 per share		4,693,000			4,685,000
Additional paid-in capital		50,477,000			49,392,000
Accumulated other comprehensive income, net of tax		28,041,000			20,109,000
Retained earnings		672,220,000			558,003,000
Total Stockholders’ Equity		755,687,000			632,450,000
Total Liabilities and Stockholders’ Equity	$	966,129,000		$	805,924,000