Investing.com -- Claire’s Stores Inc., a popular retailer for pre-teen accessories, is seeking advice from Houlihan Lokey Inc (NYSE:HLI). to strengthen its finances, according to Bloomberg news, citing sources familiar with the matter. This move comes as the company grapples with increasing tariff worries that are putting pressure on its earnings.
In addition to seeking financial advice, Claire’s is also working with Alvarez & Marsal to secure operational assistance. This initiative is part of the retailer’s strategy to mitigate the challenges it’s facing in the current retail environment.
Claire’s, like many traditional brick-and-mortar stores, is losing market share to e-commerce companies such as Amazon.com Inc (NASDAQ:AMZN). The retailer, once a common sight in shopping malls, is now dealing with the dual challenges of rising import costs and a less favorable consumer spending outlook. These issues have been exacerbated by the tariff policies introduced by President Donald Trump.
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