Remember This Place?

I remember going to the mall with my friends and mom to get my ears pierced during my awkward stage at the infamous, Claire’s.  I’m pretty sure every child under 10, tween or teen in North American knows this store. According to their website, Claire’s has done more ear piercings than any other retailer.  With over 1,800 stores in North America and Canada they have definitely established a reputation for themselves.

Not far behind the North American number is Europe, possessing over 1,400 stores between France, Germany, Portugal, Italy, UK, Switzerland, Spain, Ireland, Austria and the Netherlands. Claire’s presence has been in Europe for years and on April 1 their fourth quarter European earnings were announced. Their revenue sales were down 8.7% this quarter.  The new partnering with Katy Perry and Dylan’s Candy Bar is expected to bring a uniqueness to the brand and raise revenue in the coming months. “The pace of new store openings is decelerating globally,” said analyst David Kuntz. “The core of the business is North America and Europe, and that’s what makes and breaks their performance.”

Photo: Google Images

Photo: Google Images

There was some breaking news from the brand as of April 1, 2014 (and no it was not an April Fool’s joke).  The CEO of Claire’s, James D. Fielding, has resigned just after completing 2 years.  He will be replaced by Beatrice Lafon, Claire’s President of Europe Store. The resignation is unknown as of now, but the replacement is effective immediately. According to the Chicago Tribune Business, Claire’s numbers were down this quarter. The company has also announced it will be closing its stores in Shanghai as well to help compensate with the loss. Makes you wonder if James’ resignation has something to do with the company’s numbers…

 

Alexandra Swies

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