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Claire’s Files to Raise $100 Million in Initial Offering

Claire’s Inc., the operator of jewelry and accessories stores that’s controlled by Apollo Global Management LLC, filed to raise as much as $100 million in a U.S. initial public offering.

The amount is a placeholder used to calculate fees and is subject to change. Claire’s didn’t specify the number of shares it plans to sell or the price range in a U.S. Securities and Exchange Commission filing today.

The specialty retailer operates in 41 countries, with more than 2,700 company-operated stores in North America, Europe and China and 392 franchised stores.

New York-based Apollo took Claire’s private in 2007 for $3.1 billion. Claire’s, based in Hoffman Estates, Illinois, plans to use proceeds from the offering to repay debt.

Claire’s sales rose 4.1 percent to $1.56 billion in the year through Feb. 2, while net income plunged 60 percent to $6.24 million.

The company will list its shares under the ticker CLRS on the New York Stock Exchange, according to the filing. The company didn’t name any underwriters.

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