Claire's Stores Takes Further COVID-19 Related Action

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Claire's Stores Takes Further COVID-19 Related Action

PR Newswire

HOFFMAN ESTATES, Ill., March 27, 2020 /PRNewswire/ -- Claire's Stores, Inc. today announced additional actions being taken to respond to the challenges of the COVID-19 virus.

"We are all facing unprecedented challenges associated with the COVID-19 pandemic," said Ryan Vero, CEO. "Over the last several weeks we have temporarily closed all of our stores worldwide, moved our corporate teams to a work-from-home environment, and changed the configuration of our distribution centers in order to practice safe physical distancing at work. As we continue to focus on the safety of our employees and communities, it has now become clear that our stores will need to remain temporarily closed until further notice."

While Claire's ecommerce and concession businesses remain unchanged, a longer period of global store closure has necessitated further action. The majority of store based associates have been placed on temporary furlough, to be recalled when stores re-open, and approximately 250 corporate office employees have also been placed on temporary furlough. In all cases, the Company is covering employee-paid healthcare premiums for up to 8 weeks to ensure those affected do not face additional hardship in accessing health benefits. In a further commitment to conserving resources, the senior leadership team will also be taking a tiered reduction in pay, with CEO Ryan Vero and board members taking a 30% pay cut.

"The decision to temporarily furlough so many of our associates was not taken lightly, but was necessary for the long-term health of our organization," said Vero. "Our goal is to have our stores open, and our associates returning to work as soon as it is safe and advisable to do so. We are committed to one another and to our customers, and when the time arrives to re-open, we will be there, ready to serve, and ready to provide long-term career opportunities for all of our associates."

The Company will continue to monitor this ongoing situation and provide relevant updates, relying on recommendations from the Centers for Disease Control and Prevention (CDC), the World Health Organization (WHO), and government officials, to determine when stores will reopen.

About Claire's
Claire's Stores, Inc. is one of the world's leading specialty retailers of fashionable jewelry and accessories for ages 3 to 35. The Company operates through its stores under two brand names: Claire's® and Icing®. Claire's Stores, Inc. operates fully owned and concession stores in 17 countries throughout North America and Europe, and franchises stores in 28 countries primarily located in the Middle East, Central and Southeast Asia and Central and South America, South Africa, and Russia. More information regarding Claire's Stores is available on the Company's corporate website at www.claires.com.   

Contact
Claire's Stores, Inc.
Press.office@claires.com 
+1 (847) 898-0120

Cision View original content:http://www.prnewswire.com/news-releases/claires-stores-takes-further-covid-19-related-action-301031252.html

SOURCE Claire's Stores, Inc.

Copyright CNW Group 2020

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).