'Out of touch' Claire’s eyes store closures
Accessories chain Claire's, which is said to be considering closing some of its UK stores, is out of touch with today’s young shoppers, according to GlobalData.
The Press Association reports that the retailer is talking to restructuring firms about "a number of options". It currently has more than 370 stores in the UK.
‘‘Having continually lost relevance in the jewellery and accessories market, the news that Claire’s is seeking to rid itself of stores is no surprise – with the move long overdue. A failure to sufficiently evolve its proposition lies at the root of its problems, ensuring it falls short of what today’s shoppers are looking for,” says Kate Ormrod, Lead Retail Analyst at GlobalData.
Claire’s is struggling to compete on fashion appeal and product newness when compared to clothing specialists such as Primark and New Look, while its niche shopper base of tweens and young teens also makes it hard to drive footfall and sales given their limited funds.
“Closing loss-making stores and investing in its remaining branches will help to modernise its brand image and enhance the shopper experience. However, the retailer will achieve little unless it overhauls its product proposition and streamlines ranges to avoid duplication and an overwhelming in-store environment,” Ormrod concludes.