Claire's Stores
Operates chain of jewelry and accessory stores.
Headquarters:
3 S.W. 129th Avenue
Pembroke Pines, FL 33027
Employees: 18,300
CEO: James Fielding
Privately held
Website: http://www.clairestores.com
Career Site
Claire's Stores, Inc. is a leading international specialty retailer offering value-priced costume jewelry, accessories and cosmetics to fashion-aware teens and young adults through its two store concepts: Claire's globally and Icing in North America.
The company is owned by private equity firm Apollo Management. It is no longer publicly traded. Headquarter offices are in Florida and Illinois.
As of January 28, 2012, Claire's Stores, Inc. operated 3,071 stores in North America and Europe. The company also franchised or licensed 381 stores in Japan, the Middle East, Turkey, Russia, Greece, Guatemala, Malta, Ukraine, Mexico and India.
Claire's stores in North America are located primarily in shopping malls and average approximately 976 square feet of selling space. Stores in Europe are located primarily on high streets, in shopping malls and in high traffic urban locations and average approximately 650 square feet of selling space.
The company's two major categories of business are:
• Accessories — includes hair goods, handbags, small leather goods, and other fashion classifications, such as scarves, headwear, attitude glasses, leg wear and seasonal accessories, such as sunglasses, sandals, slippers and cold weather merchandise including hats, gloves, scarves and boots, as well as cosmetics
• Jewelry — includes earrings, ear piercing, necklaces, bracelets and rings
In Fiscal 2011, the company opened 157 stores and closed 67 underperforming stores, for a net increase of 90 stores.
Approximately 61% of store employees are part-time.
The company reported sales of $1.49 billion in 2011 and net income of $11.6 million.
History
The Company traces its beginnings to Rowland Schaefer, who established Fashion Tress, Inc. a manufacturer of wigs and accessories distributed worldwide. In the early 1980's, Mr. Schaefer set new strategic directions by divesting the business of capital-intensive manufacturing businesses in favor of the specialty retailing of women's fashion accessories.
In 1961, Fashion Tress, Inc. went public in over the counter trading. In 1973 the name was changed to FT Industries, Inc. when Chairman Emeritus, Rowland Schaefer, bought Claire's Boutiques, Inc. which operated 60 stores in the Chicago area. The Company name was changed to Claire's Stores, Inc. in 1983 and the common stock was listed on the New York Stock Exchange in 1985.
In December 1999, Claire's Stores completed the acquisition of Afterthoughts, a 768 store fashion accessory chain, from Venator. In 2001, the stores were renamed Icing by Claire's.
The company was sold to Apollo Management VI. L.P. and certain affiliated co-investment partnerships on May 29, 2007.
Benefits
Claire's offers multiple Medical and Dental options, including a National HMO. Life Insurance, Supplemental Life Insurance, and Accidental Death and Dismemberment coverage is also provided.
As a part of our income protection programs, associates may be eligible for Sick Days, Short and Long Term Disability, and Salary Continuation based on their position.
In addition to the income protection programs, Claire's Stores offers several other forms of paid time off including vacation, personal, and religious holidays.
Associates can purchase Claire's Stores stock on a payroll deduction basis, with no fees or commissions charged.
The company also offers a 401(K) plan, with matching company contributions.
Updated September 17, 2012
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