Find in the news:
BY COUNTRY

Back-To-School Could Be Make Or Break For This Retailer



Teen retailer Claire Store’s is hoping to knock it out of the park for the upcoming back-to-school shopping season.
A wave of bankruptcies and reorganizations have shaken up the retail industry, and there’s been plenty of speculation on which of the other major players may be in trouble. Unfortunately, there tends to be a domino like effect in some struggling industries, and others become more apt to explore options once the dust settles on the initial shock. One retailer is counting on a healthy sales bump from one of its busiest times of the year to insure survival. 

According to the New York Post, teen retailer Claire Store’s is hoping to knock it out of the park for the upcoming back-to-school shopping season. Disappointing results could even lead the retailer on the road to financial reorganization. 

“The situation depends on the real cash flow in the next couple of months. You have to think more likely than not it will result in bankruptcy,” a source told the Post. 

Claire’s has over 3,000 locations worldwide and a presence in 95% of all US shopping malls, but is currently saddled with a substantial amount of debt that makes profitability a near impossibility. The accessory retailer is counting on strong sales from back-to-school shopping, which it counts as its second busiest time of the year behind the holiday shopping season. 

Claire Store

 The retailer was founded in 1961 and is headquartered in a suburb of Chicago. Apollo Global Management purchased the business in 2007, and the company’s debt level increased exponentially. All told, the company is on the hook for $2.4 billion with lenders, and $110 million in interest is coming due. For a company that projects only $72 million in profits for the six month stretch that ended June 30, that adds up to trouble.  

“When I owned the company, it was a real gem,” said Marla Schaefer, former vice chair of Claire’s whose family founded the business.    

Same-store sales have been declining, and are currently down about 5.9% in comparison to last year. The company has employed an aggressive discounting strategy to move merchandise, and are banking on back-to-school shoppers helping to stem the tide. 

“This is still an emerging situation, and no one knows how it will turn out,” the source continued. 

Related shopping malls and stores:

More about shopping malls in the USA



Sep 22, 2022, France:
Palm Angels expands its geography and enters the French market with the opening of a store in Paris.
Sep 20, 2022:
The new retail space will appear in the trendy Garosu-gil neighborhood of Seoul.
Sep 19, 2022, Sweden:
The official opening of the flagship store at Drottninggatan 53 is scheduled for September 30, 2022.
Sep 16, 2022, South Korea:
The store will be located at Lotte World Mall in Seoul's Jamsil district.
Sep 15, 2022, USA:
Pontegadea is negotiating the purchase of distribution centers in Wisconsin and Pennsylvania.
Sep 14, 2022, Spain:
Sales of the Indetex Group increased by almost 25% for the first half of the year.
Friend
and Follow
I Viali GLA:452 084 SF
ADDRESS: Via Dei Cacciatori 111 - 10042 Nichelino TO - Piemonte
Italy . Torino
I Viali
Cabot Circus GLA:990 280 SF
ADDRESS: Glass House, Bristol BS1 3BX
United Kingdom . Bristol
Cabot Circus
Mall of Scandinavia GLA:1 087 155 SF
ADDRESS: Evenemangsgatan 11 169 56 Solna
Sweden . Stockholm
Mall of Scandinavia
FAN Mallorca Shopping GLA:592 015 SF
ADDRESS: C/ Cardenal Rossel, S/N. 07007 Palma de Mallorca
Spain . Palma
FAN Mallorca Shopping


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us