PEMBROKE PINES, FL-Private-equity firm Apollo Management is acquiring teen female accessories chain Claire’s Stores for about $3.1 billion, or $33 per share. The deal follows an announcement late last year by Claire’s management that it was looking to sell the 3,300-store company.

New York City-based Apollo has a long track record in the retail industry. It is selling the 4,800-store General Nutrition Centers for $1.65 billion and was a buyer last year in the $1.2-billion purchase of the Lord & Taylor department-store chain.

“We believe that the increased flexibility available to a private company will enable Claire’s to capitalize on the many opportunities before it, both here and abroad,” says Peter Copses, a senior partner at Apollo, in a statement, noting that his firm is “committed to Claire’s continued growth as a highly successful global specialty retailer.”

Claire’s has grown considerably over the last few years. The retailer has doubled its store base over the past 10 years and sales per sf in its units have increased from $296 to $477 over that time. About 3,000 of its stores are in North America and Europe, close to 200 are located in Japan, and 120 are operated through a licensing agreement in the Middle East and Turkey.

Claire’s stock closed yesterday at $31.88 per share. The company’s same-stores sales in February inched up 1% year over year in February. Total sales were up 9% to nearly $99 million.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Dig Deeper

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.