Claire’s Stores Sells Lux Apparel Division

Claire’s Stores Inc. sold its Lux apparel division, which operates 154 Mr. Rags stores, to a private investment group to focus on its main businesses. Terms weren’t disclosed.

Claire’s, a retailer of accessories for teens, sold the Long Beach-based Lux division to a group led by Ivan Spiers and Bruce Friedman. The Pembroke Pines, Fla.-based retailer put Lux up for sale in January.

Shares of Pembroke Pines, Fla.-based Claire’s fell 56 cents to $20.02 on the NYSE.