FORM 10-Q
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

(Mark  One)
          ( X ) Quarterly Report Pursuant to Section 13 or 15(d) of the
                        Securities Exchange Act of 1934

For  the  Quarterly  Period  Ended     May  5,  2001
                                   ------------------------------------
     OR

          ( ) Transition Report Pursuant to Section 13 or 15(d) of the
                        Securities Exchange Act of 1934
For  the  transition  period from             to
                                   ------------------------------------

Commission  file  number                1-8899
                        ------------      ----------------------------

                              CLAIRE'S STORES, INC.
----------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

          Florida                                  59-0940416
----------------------------------------------------------------------
(State  or  other  jurisdiction  of             (I.R.S.  Employer
incorporation  or  organization)               Identification  No.)

3  S.W.  129th  Avenue     Pembroke  Pines,  Florida       33027
----------------------------------------------------------------------
(Address  of  principal  executive  offices)             (Zip  Code)

                                  (954) 433-3900
----------------------------------------------------------------------
              (Registrant's telephone number, including area code)

              (Former name, former address and former fiscal year,
                          if changed since last report)
----------------------------------------------------------------------


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the  preceding  12  months  (or  for such shorter period that the registrant was
required  to  file  such  reports),  and  (2)  has  been  subject to such filing
requirements  for  the  past  90  days.  Yes  X.  No   .
                                             ---    ---

The  number  of shares of the registrant's Common Stock and Class A Common Stock
outstanding  as  of  June  2,  2001  was 45,942,751 and 2,837,716, respectively,
excluding  treasury  shares.


<PAGE>


<TABLE>
<CAPTION>
                     CLAIRE'S STORES, INC. AND SUBSIDIARIES
                                      INDEX


<S>                                                            <C>
                                                               PAGE NO.
                                                               --------

PART I.   FINANCIAL INFORMATION
--------------------------------

ITEM 1.  FINANCIAL STATEMENTS

Condensed Consolidated Balance Sheets at May 5, 2001 and
     February 3, 2001.                                                3

Condensed Consolidated Statements of Income and Comprehensive
     Income for the Three Months Ended May 5, 2001 and
     April 29, 2000.                                                  4

Condensed Consolidated Statements of Cash Flows for the Three
     Months Ended May 5, 2001 and April 29, 2000.                     5

Notes to Condensed Consolidated Financial Statements                  6

ITEM 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OF
           FINANCIAL CONDITION AND RESULTS OF
           OPERATIONS                                                 7

PART II.  OTHER INFORMATION
---------------------------

ITEM 6.    EXHIBITS AND REPORTS ON FORM 8-K                           8
</TABLE>


                                        2
<PAGE>


<TABLE>
<CAPTION>
                         PART I.  FINANCIAL INFORMATION
                     CLAIRE'S STORES, INC. AND SUBSIDIARIES
                      CONDENSED CONSOLIDATED BALANCE SHEETS
                                   (Unaudited)

                                                          MAY 5,     FEB. 3,
                                                           2001        2001
                                                        ----------  ----------
                                                            (In thousands)
<S>                                                     <C>         <C>
ASSETS
Current assets:
 Cash and cash equivalents                              $  98,668   $ 111,663
 Inventories                                              121,072     112,104
 Prepaid expenses and other current assets                 47,048      36,012
                                                        ----------  ----------
      Total current assets                                266,788     259,779
                                                        ----------  ----------

Property and equipment:
 Land and building                                         17,766      17,765
 Furniture, fixtures and equipment                        184,446     180,147
 Leasehold improvements                                   133,785     133,522
                                                        ----------  ----------
                                                          335,997     331,434
 Less accumulated depreciation and amortization          (166,999)   (160,317)
                                                        ----------  ----------
                                                          168,998     171,117
                                                        ----------  ----------

 Goodwill, net                                            200,350     204,269
 Other assets                                              32,620      33,369
                                                        ----------  ----------

                                                        $ 668,756   $ 668,534
                                                        ==========  ==========

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
 Current portion of long-term debt                      $  32,090   $  31,263
 Trade accounts payable                                    36,327      30,848
 Income taxes payable                                       1,747       2,313
 Dividends payable                                              -       1,916
 Accrued expenses                                          30,017      33,757
                                                        ----------  ----------
      Total current liabilities                           100,181     100,097
                                                        ----------  ----------

Long term liabilities:
 Long term debt                                           149,437     151,374
 Deferred credits                                          17,723      17,363
                                                        ----------  ----------
                                                          167,160     168,737
                                                        ----------  ----------
Stockholders' equity:
 Preferred stock par value $1.00 per share; authorized
  1,000,000 shares, issued and outstanding 0 shares             -           -
 Class A common stock par value $.05 per share;
  authorized 20,000,000 shares, issued 2,843,393
  shares and 2,846,354 shares                                 142         142
 Common stock par value $.05 per share; authorized
  150,000,000 shares, issued 45,937,074 shares and
  45,930,363 shares                                         2,297       2,297
 Additional paid-in capital                                29,870      29,825
 Accumulated other comprehensive income                   (13,299)     (7,221)
 Retained earnings                                        382,857     375,109
                                                        ----------  ----------
                                                          401,867     400,152
 Treasury stock, at cost, (109,882 shares)                   (452)       (452)
                                                        ----------  ----------
                                                          401,415     399,700
                                                        ----------  ----------
Commitments and contingencies
                                                        $ 668,756   $ 668,534
                                                        ==========  ==========

<FN>
See accompanying notes to condensed financial statements.
</TABLE>


                                        3
<PAGE>


<TABLE>
<CAPTION>
                     CLAIRE'S STORES, INC. AND SUBSIDIARIES
      CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
                                   (Unaudited)


                                                 THREE MONTHS ENDED
                                               ---------------------

                                                 MAY 5,    APR. 29,
                                                 2001        2000
                                               ---------  ----------
                                                   (In thousands)
<S>                                            <C>        <C>
Net sales                                      $235,276   $ 232,000
Cost of sales, occupancy and buying expenses    124,214     128,396
                                               ---------  ----------
Gross profit                                    111,062     103,604
                                               ---------  ----------

Other expenses:
 Selling, general and administrative             85,884      84,791
 Depreciation and amortization                   11,049      10,543
 Interest expense, net                            2,194       1,940
                                               ---------  ----------
                                                 99,127      97,274

 Income before income taxes                      11,935       6,330

Income taxes                                      4,187       2,337
                                               ---------  ----------

 Net income                                       7,748       3,993
                                               ---------  ----------

Other comprehensive income:
 Foreign currency translation adjustments        (6,078)     (3,429)
                                               ---------  ----------
   Comprehensive income                        $  1,670   $     564
                                               =========  ==========

Net income per share:
 Basic                                         $   0.16   $    0.08
                                               =========  ==========

 Diluted                                       $   0.16   $    0.08
                                               =========  ==========

Average common shares outstanding - Basic        48,669      51,139
                                               =========  ==========

Average common shares outstanding - Diluted      48,753      51,325
                                               =========  ==========

<FN>
See  accompanying  notes  to  condensed  financial  statements.
</TABLE>


                                        4
<PAGE>


<TABLE>
<CAPTION>
                     CLAIRE'S STORES, INC. AND SUBSIDIARIES
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)


                                                            THREE MONTHS ENDED
                                                           --------------------

                                                            MAY 5,     APR. 29
                                                             2001       2000
                                                           ---------  ---------
                                                              (In thousands)
<S>                                                        <C>        <C>
Cash flows from operating activities:
 Net income                                                $  7,748   $  3,993
 Adjustments to reconcile net income to net cash
       provided by operating activities:
  Depreciation and amortization                              11,049     10,543
  Loss on retirement of property and equipment                  270        372
 Increase in -
  Inventories                                                (9,049)    (3,109)
  Prepaid expenses and other assets                         (11,011)    (6,883)
 Increase (decrease) in -
  Trade accounts payable                                      5,584      7,262
  Income taxes payable                                         (566)   (11,875)
  Accrued expenses                                           (3,601)      (457)
  Deferred credits                                              360        312
                                                           ---------  ---------

Net cash provided by operating activities                       784        158
                                                           ---------  ---------

Cash flows from investing activities:
 Acquisition of property and equipment                       (7,667)    (9,022)
 Acquisition of business, net of cash acquired                    -     (9,548)
 Purchase of short-term investments                               -     (2,517)
                                                           ---------  ---------

Net cash used in investing activities                        (7,667)   (21,087)

Cash flows from financing activities:
 Principal payments on debt                                    (610)      (927)
 Proceeds from stock options exercised                           46         49
 Dividends paid                                              (1,892)    (1,990)
                                                           ---------  ---------

Net cash used in financing activities                        (2,456)    (2,868)

Effect of foreign currency exchange rate changes on cash
and cash equivalents                                         (3,656)    (3,429)
                                                           ---------  ---------

Net decrease in cash and cash equivalents                   (12,995)   (27,226)

Cash and cash equivalents at beginning of period            111,663    137,414
                                                           ---------  ---------

Cash and cash equivalents at end of period                 $ 98,668   $110,188
                                                           =========  =========

<FN>
See  accompanying  notes  to  condensed  consolidated  financial  statements.
</TABLE>


                                        5
<PAGE>


                      CLAIRE'S STORES, INC. AND SUBSIDIARIES
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

1.   The  accompanying  unaudited  condensed  consolidated  financial statements
     reflect  all  adjustments (consisting only of normal recurring adjustments)
     which  are,  in the opinion of management, necessary to a fair statement of
     the  results  for the interim periods. These financial statements have been
     prepared  in accordance with the instructions to Form 10-Q and therefore do
     not  include  all  of the information or footnotes necessary for a complete
     presentation. They should be read in conjunction with the Company's audited
     financial statements included as part of the Annual Report on Form 10-K for
     the  year  ended  February  3,  2001 filed with the Securities and Exchange
     Commission.  Due  to  the  seasonal  nature  of the Company's business, the
     results  of  operations  for  the  first  three  months of the year are not
     indicative  of  the  results  of  operations  on  an  annualized  basis.

2.   Basic  net  income  per  share  is  based on the weighted average number of
     shares  of  Class  A  Common  Stock and Common Stock outstanding during the
     period  presented  while diluted net income per share includes the dilutive
     effect  of  stock options. Options to purchase 1,078,906 and 570,500 shares
     of common stock, at prices ranging from $17.75 to $30.25 per share and from
     $18.63 to $30.25 per share, respectively, were outstanding for the quarters
     ended  May  5, 2001 and April 29, 2000, respectively, but were not included
     in  the  computation  of  diluted  earnings  per share because the options'
     exercise  prices  were  greater than the average market price of the common
     shares  for  the  respective  fiscal  quarter.

ITEM  2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS.

FORWARD-LOOKING  STATEMENTS
---------------------------

The  Company  and its representatives may from time to time make oral or written
"forward-looking statements" within the meaning of the Private Securities Reform
Act  of  1995 (the "Reform Act"), including any statements that may be contained
in  the  following  "Management's Discussion and Analysis of Financial Condition
and  Results  of  Operations,"  in  this  report  and  in other filings with the
Securities  and  Exchange  Commission  and in its reports to stockholders, which
represent  the  Company's  expectations or beliefs with respect to future events
and  future  financial performance. These forward-looking statements are subject
to  certain  risks  and  uncertainties.  Important  factors  currently  known to
management  that  could  cause actual results to differ materially from those in
forward-looking  statements  are  set forth in the risk factors contained in the
Company's  Annual  Report  on Form 10-K for the year ended February 3, 2001, and
those  risk factors are hereby incorporated by reference in this Form 10-Q.  The
Company  does not undertake to update or revise any forward-looking statement to
reflect  changed  assumptions, the occurrence of unanticipated events or changes
to  operating  results  over  time.


                                        6
<PAGE>


The  following  table  sets  forth, for the periods indicated, percentages which
certain  items  reflected  in  the financial statements bear to net sales of the
Company:

<TABLE>
<CAPTION>
                                              THREE MONTHS ENDED
                                              ------------------

                                              MAY 5,   APR. 29,
                                               2001      2000
                                              -------  ---------
<S>                                           <C>      <C>
Net sales                                      100.0%     100.0%
 Cost of sales, occupancy and buying expenses   52.8%      55.3%
                                              -------  ---------
 Gross Profit                                   47.2%      44.7%
                                              -------  ---------

Other expenses:
 Selling, general and administrative            36.5%      36.5%
 Depreciation and amortization                   4.7%       4.5%
 Interest expense, net                           0.9%       0.8%
                                              -------  ---------
                                                42.1%      41.8%
                                              -------  ---------
  Income before income taxes                     5.1%       2.7%

Income taxes                                     1.8%       1.0%
                                              -------  ---------
 Net income                                      3.3%       1.7%
                                              =======  =========
</TABLE>



RESULTS  OF  OPERATIONS

Net sales for the three months ended May 5, 2001 increased approximately 1% over
the  comparable  period  ended  April  29,  2000.  The  increase  for the period
resulted  primarily  from  an  increase  in average sales per store, offset by a
decrease in the average number of stores operating during the comparable period.
The increase in average sales per store is primarily the result of the Company's
closure  of  lower-performing  stores  in  North  America during fiscal 2001 and
opening  stores  in  Europe  which  typically  generate  higher sales per store.

Cost  of  sales, occupancy and buying expenses decreased 3% for the three months
ended  May  5,  2001  over  the  comparable  period  ended April 29, 2000.  As a
percentage  of  net  sales, these expenses were 52.8% for the three months ended
May  5,  2001 and 55.3% for the three months ended April 29, 2000. The principle
reason  for  the  improvement was due to excess inventory write-downs during the
first  quarter  of  Fiscal  2001  which  resulted  in  the  Company  recognizing
approximately  $8  million  of  additional  cost  of  sales  during that period.

Selling,  general and administrative expenses (S,G&A) for the three months ended
May  5,  2001  was  36.5%  of sales, consistent with the comparable period ended
April 29, 2000.  While the Company was not able to realize leverage on its fixed
corporate  expenses  due  to  the  flat same-store sales reported in the quarter
ended  May  5, 2001, management took steps to control those expenses which could
be  managed  to  correspond  with  customer  traffic  within  stores.

Depreciation  and  amortization as a percentage of sales were approximately 4.7%
for  the three months ended May 5, 2001 as compared to 4.5% for the three months
ended  April  29,  2000.  The  increase as a percentage of sales was primarily a
result of opening new stores during the past twelve months without a significant
increase  in  overall  revenues.  Store  closings  did  not significantly affect
depreciation as many of these stores were closed at the end of the term of their
leases  when  most  store  assets  have  already been fully depreciated in prior
periods.

Interest  expense,  net  was  $2,194,000 for the three month period ended May 5,
2001  compared  to  $1,940,000  for  the comparable period ended April 29, 2000.
This  change  was primarily due to lower interest rates charged on the Company's
debt  and lower invested cash balances which produced lower interest income than
the  comparable  period.


                                        7
<PAGE>


Inflation  has  not  affected  the Company as it has generally been able to pass
along  inflationary  increases  in  its  costs  through  increased sales prices.

LIQUIDITY  AND  CAPITAL  RESOURCES

In  connection  with  the acquisition of Afterthoughts, the Company entered into
the  Credit  Facility pursuant to which it financed $200 million of the purchase
price.  The  Credit  Facility  includes  a  $40 million revolving line of credit
which matures on December 1, 2004 and a $175 million five year term loan payable
on  a  quarterly  basis  through  December  1,  2004.  The  Credit  Facility  is
prepayable  without  penalty  and bears interest at 100 basis points margin over
the  London  Interbank Borrowing Rate.  The margin is then adjusted periodically
based  on  the  Company's  performance  as  it  relates  to  certain  financial
measurements.  The  Company had $180 million outstanding on this facility at May
5,  2001.  The Credit Facility contains covenants including, but not limited to,
limitations  on investments, dividends and other restricted payments, incurrence
of  additional  debt  and  acquisitions,  as well as various financial covenants
customary  for  transactions  of  this  type.  These financial covenants include
current  ratio,  fixed  charge  coverage  ratio and current leverage ratio.  The
Company  was  in  compliance  with  these  covenants  at  May  5,  2001.

Company  operations  have  historically  provided  a  strong, positive cash flow
which, together with the Company's cash balances, provides adequate liquidity to
meet  the  Company's  operational  needs  and  debt  obligations.  Cash and cash
equivalents  totaled  $98,668,000  at  May  5,  2001.

Net  cash  provided  by  operating  activities amounted to $784,000 in the first
quarter of Fiscal 2002 compared to $158,000 in the first quarter of Fiscal 2001.
The  primary  source of net cash provided by operating activities was net income
of  $7.7  million,  adjusted  for  non-cash  items.

Net  cash  used  in investing activities of $7.7 million in the first quarter of
Fiscal  2002 was used for capital expenditures, primarily opening and remodeling
stores.

Net  cash  used  in financing activities of $2.5 million in the first quarter of
Fiscal  2002  was  used  primarily  to  pay  the  Company's  dividends.

Inventory  at May 5, 2001, increased 8% compared to the inventory balance at the
end  of  the  Company's  February  3,  2001-fiscal  year.  The Company has since
determined  that  certain  segments  of  the  merchandise  purchased  for  the
Afterthoughts  division  was  not  accepted  by  our  customer. As a result, the
Company  expects  to  mark down such merchandise during the second quarter which
will  reduce  inventory  levels  and  gross  margins,  and therefore, forecasted
earnings.

For  the three months ended May 5, 2001, the Company opened 37 stores and closed
41  stores  ending  the  quarter  with  3,021  stores.  In addition, the Company
remodeled  26  stores.


                           PART II. OTHER INFORMATION

ITEM  SIX.  EXHIBITS  AND  REPORTS  ON  FORM  8-K

     (a)     Exhibits

             None

     (b)     Reports  on  Form  8-K

             None


                                        8
<PAGE>


                                    SIGNATURE
                                    ---------



Pursuant  to  the  requirements  of  the  Securities  Exchange  Act of 1934, the
registrant  has  duly  caused  this  report  to  be  signed on its behalf by the
undersigned  thereunto  duly  authorized.



                                            CLAIRE'S  STORES,  INC.
                                            -----------------------
                                            (Registrant)




Date:  June  18,  2001                      /s/  Ira  D. Kaplan
                                            --------------------
                                            Ira D. Kaplan
                                            Senior  Vice  President  and Chief
                                            Financial  Officer

                                            (Mr.  Kaplan  is  the Senior Vice
                                            President and Chief Financial
                                            Officer and has been duly authorized
                                            to sign on  behalf  of  the
                                            registrant)


                                        9
<PAGE>