Lenders are signaling approval of Claire’s Stores Inc.’s new chief executive officer, whose marketing experience at Walt Disney Co. is fueling optimism that the Apollo Global Management LLC-owned specialty retailer’s results will improve even as its European division struggles.
Claire’s $1.45 billion term loan was quoted June 22 at 95.1 cents on the dollar to yield 5.9 percent, according to data compiled by Bloomberg, rising 2.6 cents since June 5, the day before the company announced James Fielding’s appointment. Its bonds returned 3.4 percent, compared with 1.9 percent all junk- rated retailers, Bank of America Merrill Lynch index data show.
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