By  on November 29, 2011

Teen accessories and jewelry chain Claire’s Stores Inc said it saw profits decline in the third quarter.

For the three months ended Oct. 29, income dropped 48 percent to $1.9 million from $3.6 million last year. Interest expense in the quarter rose 17.3 percent to $43.5 million from $37.1 million. Sales rose 2.2 percent to $356 million from $348.2 million, but consolidated same-store sales fell 2.2 percent. By operation, same-store sales inched up 0.8 percent in North America and fell 7.1 percent in Europe.

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