Claire’s is a go-to place for teen ear piercings, as well as jewelry and accessories. Since 1961, it has grown primarily with mall-based stores, including locally operating stores at the Dayton Mall, Fairfield Commons, and Miami Valley Center Mall.
The company has had a tough time in recent years, declaring bankruptcy, which it emerged from in 2018. Then three years later, in September, the company filed an initial public offering.
The future Troy-based Walmart store is part of broader plans to add approximately 180 “store-in-store” locations in fiscal 2021, according to an SEC filing in September by Claire’s.
Kelly Gray, vice president of Equity, which has retail expertise in the Dayton area, said many retailers are interested in similar deals, which outsource some of the work. Walmart already has many of these arrangements, such as restaurants and nail salons that operate from stalls at the front of the building.
“We’re just seeing a lot of retailers looking maybe to outsource some of the work,” she said.
“There is a cobranding trend,” said Loren DeFilippo, director of research for Ohio markets at Colliers.
During the same period, Claire’s plans to add approximately 35 freestanding stores, primarily outside of malls.
That includes a new store coming to Huber Heights, with a county building permit filed Aug. 16, which the city says is for a storefront in the Northpark mall. The location is where Yankee Candle had closed.
About 1/3 of Claire’s stores in North America were located outside malls as of July 31.
Claire’s wrote in the SEC filing that one of the risks it faces is a drop in the number of people visiting brick-and-mortar malls, where the majority of its stores are still located.
The retailer said sales volume and traffic will likely be affected by “economic downturns in a particular area, competition from non-mall retailers (including e-commerce businesses) and other malls where we don’t ‘have no shops and the closure of anchor tenants in a particular mall.