The computer system and the hiring of Claire's Stores' first director of loss prevention further improved the company's numbers by reducing "shrinkage" or theft of the thousands of small items available in each store, with the company keeping this figure to 10 percent or less 's figure was as high as 12 percent of sales.
Lastly, an increase in Asian imports accelerated gross earnings, and new management selected by Schaefer completely stopped the company's hemorrhaging before any long-lasting or irreparable damage was done. By May of , three months after the end of the previous fiscal year, Claire's posted an incredible sales surge of nearly 79 percent, with same-store increases of 58 percent. Though the company continued expanding, it did so carefully, and by July had outlets in 47 states with some 4, employees, nearly two-thirds of whom worked part-time.
Claire's hoped to add between and new stores by the end of the fiscal year and had even revitalized its ordering system to keep a better tab on trends and delivering merchandise to its stores in far less time.
By the spring of there were a total of 1, company-owned stores in 47 states, of these were Claire's, were Topkapi, 32 Dara Michelle, 32 Arcadia, 20 Art Explosion, and another 90 under the name Art Works or Picture Show. The latter four chains were a departure from Claire's Stores' general trade in women's and girls' accessories.
Art Works and Picture Show outlets carried graphic arts, such as framed posters and many other types of matted and framed art work. While the company made adjustments to shore up losses and promote sales, Schaefer also looked into diversification.
Additionally, Schaefer, who had long passed the traditional age for retirement he was 76 , sporadically talked about leaving the company or finding a buyer for his 41 percent share of Claire's Stores, Inc. If those on Wall Street were concerned, few showed it for Schaefer was well-liked and respected throughout the industry, and most knew he would never leave his company unstable.
By July total stores grew to 1, up from 1, the previous year in 48 states. A little less than half the business is jewelry. Almost every price ends in 50 cents. Today, we like to shop at outdoor centers or online. But most of it has to do with the thing that has affected those other specialty retailers that were so successful at the mall when I was growing up in the s.
Fast fashion has transformed not only the way we shop, but also our expectations. A , , year-old who likes cool shit expects cool shit. And she knows that she can get it at Forever That, clearly, is no longer the case. You might know it by its previous name: The Limited Too. Perhaps the independence we sought combing through those earring trees and ring stands can now be found through URLs and comment boards.
After all, where else would little girls get their ears pierced? Sign in. Privacy Policy LennyLetter. Claire's merchandise directly mimics higher end style trends. Claire's also carries an assortment of holiday items such as Valentine's Day, St. Nearly all Claire's locations also offer ear piercing as all the staff are full trained in using the Studex 'gun'.
Claire's does not pierce the cartilage of people under In , Fashion Tress, Inc. Fashion Tress was a manufacturer of wigs and accessories, and went public in over-the-counter trading. The name was changed to FT Industries, Inc. During the early s, Schaefer took the company in a new direction by divesting the manufacturing businesses and focusing the company on specialty retailing of women's fashion accessories.
In , the company name was changed again to the current name, Claire's Stores, Inc. On May 29, , the company was acquired by private equity firm Apollo Management. Eugene Kahn was appointed CEO. Claire's began as Fashion Tress Inc. In , it became FT Industries Inc. In , it became Claire Stores Inc.
In , Icing by Claire's was created when the company acquired Afterthoughts. Claire's specializes in accessory products aimed for preteen and teenaged females, such as jewelry and perfume.
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