Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
SCHAEFER MARLA L
  2. Issuer Name and Ticker or Trading Symbol
CLAIRES STORES INC [CLE]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Co-Chairman and Co-CEO
(Last)
(First)
(Middle)
C/O CLAIRE'S STORES, INC., 3 S.W. 129TH AVENUE
3. Date of Earliest Transaction (Month/Day/Year)
06/12/2006
(Street)

PEMBROKE PINES, FL 33027
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, $.05 par value 06/12/2006 06/12/2006 M   45,000 A $ 8.96 45,000 D  
Common Stock, $.05 par value 06/12/2006 06/12/2006 M   55,000 A $ 8.96 55,000 D  
Common Stock, $.05 par value               745,916 I By SS Trust (1)
Common Stock, $.05 par value               68,865 I By SFHI (2)
Common Stock, $.05 par value               1,862,362 I By RS 2004 Trust (3)
Common Stock, $.05 par value               10,408 D  
Common Stock, $.05 par value               75,000 D (4)  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (right to buy) $ 8.96 06/12/2006 06/12/2006 M     45,000 07/25/2000 07/25/2006 Common Stock 45,000 $ 0 0 D  
Employee Stock Option (right to buy) $ 8.96 06/12/2006 06/12/2006 M     55,000 07/25/2000 07/25/2006 Common Stock 55,000 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SCHAEFER MARLA L
C/O CLAIRE'S STORES, INC.
3 S.W. 129TH AVENUE
PEMBROKE PINES, FL 33027
  X     Co-Chairman and Co-CEO  

Signatures

 /s/ Marla L. Schaefer   06/13/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The Reporting Person is a co-trustee of the Sylvia Schaefer Trust. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of the Reporting Person's pecuniary interest in these shares.
(2) The Reporting Person owns a controlling interest in Schaefer Family Holdings, Inc. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of the Reporting Person's pecuniary interst in these shares.
(3) The Reporting Person is a co-trustee of the Rowland Schaefer Trust. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of the Reporting Person's pecuniary interest in these shares.
(4) Restricted stock grant, which vested twenty-five percent (25%) on February 1, 2006, and will vest twenty-five percent (25%) on February 1, 2007, and fifty percent (50%) on February 1, 2008.

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