Claire’s rises on earnings; hopes of new capital boost RadioShack; Gymboree, Rue21 gain

By Stephanie N. Rotondo

Phoenix, Aug. 28 – With one more trading day left ahead of the long holiday weekend, things were slowing down in the distressed debt market on Thursday.

One trader said he wasn’t busy, adding, “I don’t think anyone was.”

But even amid the limited liquidity, the retail world was gaining strength during the session.

Claire’s Stores Inc. bonds “wound up being better,” a trader said, after the Chicago-based jewelry and accessories retailer held a conference call to discuss its quarterly results.

Also in the retail space, RadioShack Corp.’s debt was unchanged to better as investors continued to react to news out from earlier in the week regarding a potential rescue financing package from Standard General LP, the company’s second-largest shareholder.

In Thursday trading alone, the company’s stock jumped over 30%.

Among recently topical names, Momentive Performance Materials Inc. paper remained “fairly active,” a trader said.

NII Holdings Inc. also remained active, according to another trader.

Elsewhere in the retail arena, Gymboree Corp.’s 9 1/8% notes due 2019 were “up 2 points from a couple days ago,” a trader said.

And, Rue21 Inc.’s 9% notes due 2021 inched up half a point to 81, the trader said.

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