Times are tough in the tween bling business. Claire’s — long a mall-based beacon of ear piercing and bedazzled barrettes — has filed for Chapter 11 bankruptcy in Delaware. It’s the second time the brand has sought bankruptcy protection, having last done so in 2018. The company operates more than 2,700 stores in 17 countries, including nearly 200 Icing stores — a more mature concept it has been working to expand. In recent years, Claire’s has tried to evolve, launching marketing efforts aimed at a new generation of shoppers. But declining sales, a burdensome debt load, and rising tariff-driven costs in its supply chain have proven too difficult to overcome. The move doesn’t come as a surprise. Claire’s had reportedly been in discussions about restructuring options for weeks. Still, the bankruptcy signals just how difficult the current retail environment has become — especially for mall-dependent retailers already struggling to stay relevant with younger consumers.

Adobe released online shopping data for the 2025 holiday season, covering the period from Nov. 1 through Dec. 31, 2025. Based on Adobe Analytics data, the analysis provides the most comprehensive view into U.S. e-commerce by analyzing commerce transactions online, covering over 1 trillion visits to U.S. retail sites, 100 million SKUs and 18 product categories. Consumers spent $257.8 billion online from Nov. 1 to Dec. 31, up 6.8% year-over-year (YoY) and setting a new record for e-commerce. 25 days saw consumers spend more than $4 billion in a single day (a significant jump from 18 days in 2024). Mobile shopping hit a new milestone, with the majority of online transactions (56.4%) taking place through a smartphone this season (up from 54.5% in 2024); Mobile shopping was highest on Christmas Day (Dec. 25), driving 66.5% of online sales (vs. 65% in 2024), followed by Thanksgiving Day (Nov. 27) at 61.6% mobile share (vs. 59.3% in 2024)

Supplemental Nutrition Assistance Program (SNAP) benefits for November are currently in limbo due to the government shutdown, which will likely impact both SNAP recipients and the grocery or big-box stores where they shop. It’s still unclear when SNAP recipients will receive their full SNAP payments for November, according to CNN, which reported that this depends on the approval of a short-term spending package to temporarily fund federal agencies, which will still need to go through Congress and President Trump. About 12% of U.S. residents received SNAP benefits in fiscal year 2024, according to the USDA. The maximum allotment for a single person in the contiguous U.S. is $298 per month for fiscal year 2026 (which began in October), according to the USDA. A good portion of SNAP funds go to Walmart, according to third-party data, so any cuts or delays to the program could show up in the retailer’s fourth-quarter results. This is on top of an already challenging consumer environment, with consumers worried about rising prices and inflation and the government shutdown leaving hundreds of thousands of federal workers without paychecks. “One of the problems here has been the uncertainty — the on-again, off-again. Is [SNAP funding] going to be released? Is it not going to be released?” George Davis, professor of agricultural and applied economics at Virginia Tech, told Modern Retail. A USDA official said it could take weeks or months to release money to recipients. “People with lower income don’t have the resources to absorb that type of shock,” Davis said.