Claire's announcement comes at a time when private-equity firms are acquiring retailers at a rapid pace. Some recent big-name chains that have been or are being taken private recently include Outback Steakhouse, Michael's and Petco.
Claire's stock closed yesterday at $31.91 and started trading Friday morning above $33. Its 52-week high is $36.73, while the low is $23.88.
Last month the retailer posted flat year-over-year same-store sales and a 1% drop during October. In its third quarter, which ended Oct. 28, same-store sales were flat, while net income fell to $36.6 million from $38.1 million a year ago. Net sales were up 6%, reaching $347.6 million.
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