Claire's Stores, Inc. (Form: 8-K)  

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

     
Date of Report (Date of Earliest Event Reported):   March 31, 2006

Claire's Stores, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

     
Florida 001-08899 59-0940416
_____________________
(State or other jurisdiction 		_____________
(Commission 		______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
3 S.W. 129th Avenue, Pembroke Pines, Florida   33027
_________________________________
(Address of principal executive offices) 		  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   954-433-3900

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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Item 1.01 Entry into a Material Definitive Agreement.

On March 31, 2006, as part of our previously announced share repurchase program in November 2005 to repurchase up to $200,000,000 of shares of common stock, Claire's Stores, Inc. ("Claire's") entered into a Rule 10b5-1 trading plan with Susquehanna Financial Group, LLLP ("Susquehanna"). Pursuant to the plan, Claire's agreed to repurchase up to $40,000,000 worth of shares. From and including March 31, 2006 through April 28, 2006, the trading plan authorizes daily share repurchases equal to the lesser of (a)(i) 50,000 shares, (ii) $2,000,000; (b) Rule 10b-18(b)(4)limit (25% of prior 4 weeks ADTV), and (c) 10% of the current trading day's volume; provided, that, no shares will be repurchased at a price of more than $35. The plan may be terminated prior to April 28, 2006, subject to the provisions of Appendix A to the plan.

The trading plan, which appears as Exhibit 10.1 to this report, is incorporated by reference in response to this Item 1.01.





Item 9.01 Financial Statements and Exhibits.

(a) Financial Statements of Business Acquired.

Not applicable

(b) Pro Forma Financial Information.

Not applicable

(c) Exhibits.

See "Exhibit Index."





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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

         
    Claire's Stores, Inc.
          
April 3, 2006   By:   /s/ Ira D. Kaplan
       
        Name: Ira D. Kaplan
        Title: Chief Financial Officer

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Exhibit Index


     
Exhibit No.   Description
 
10.1
  10b5-1 Repurchase Plan