Claire's sales surpass pre-pandemic levels

HOFFMAN ESTATES - Claire's Holdings LLC, owner of the Claire's fashion brand and retail chain, reported global net sales of $1.4 billion for its 2021 fiscal year, which represents growth of 53% over fiscal year 2020 and growth of 9% over fiscal year 2019.

Global same store sales grew of 18%, with North America growth of 27%, led by strong ear piercing. Sales in Europe were down 2%, driven by continued COVID-19 restrictions and closures, the company said.

Against fiscal year 2019 prior to the pandemic, global same store sales were up 11%, with North America growth of 19% and Europe down 7%.

"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," 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," he said. "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."

The company also reported capital expenditures last year of between $65 million and $70 million, reflecting growth and diversification of its retail footprint as well as key systems investments.