Claire’s sales up 53% in 2021

Youth-focused accessories retailer Claire’s Stores Inc reported on Monday its preliminary unaudited financial results for the fiscal year ended January 29, 2022, including net sales of $1.395 billion, up 53% over fiscal year 2020.

Same store sales increased 18% in 2021, with North America same store sales increasing 27%, led by strong ear piercing, while Europe same store sales dropped 2%, driven by continued Covid-19 restrictions and closures.

Meanwhile, the specialty retailer of fashionable jewelry and accessories reported concessions sales of $94 million. Adjusted EBITDA fiscal 2021 is expected to be between $273 million and $277 million.

“This was a transformative year for Claire’s and we are thrilled with the progress we are making in the business aligned with our strategic initiatives to grow our concessions business, diversify our retail footprint, and enhance our customer experience. Our global teams, spanning both North America and Europe, remained agile in a dynamic environment, delighting our customers with outstanding products, experiences, service and care,” said Ryan Vero, Claire’s chief executive officer.

“We proudly pierced more customers’ ears than ever in fiscal 2021 compared to prior years, and we continued to deliver new and distinctive products for which Claire’s is famous. I am extremely excited to see the accelerated roll out and success of our concession business with Walmart that began in January - setting the stage for many years of significant global growth,” Vero concluded.

Headquartered in Hoffman Estates, Illinois, Claire’s currently operates 2,300 stores in 17 countries across North America and Europe, as well as 190 ICING stores in North America. In December, it hired PespsiCo alum Kristin Patrick as its new chief marketing officer.

Claire’s sales up 53% in 2021

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