Jewelry retailer to shutter another 150 stores - KSDK.com
ST. LOUIS — Signet Jewelers Ltd. (NYSE: SIG), whose retail brands include Kay Jewelers, Zales and Jared The Galleria Of Jewelry, plans to shutter 150 stores in its current fiscal year as part of its previously announced turnaround plan.
That’s in addition to the 267 stores the company closed in its fiscal 2019, ended Feb. 2, according to the company’s quarterly report, released last week. Of those previous closures, 237 were in North America and 30 internationally.
Bermuda-based Signet, which has its U.S. base in Akron, Ohio, has not yet identified the stores it plans to close. It is the world’s largest retailer of diamond jewelry, operating about 3,300 stores companywide, primarily under the brands Kay Jewelers, Zales, Jared The Galleria Of Jewelry, H.Samuel, Ernest Jones, Peoples, Piercing Pagoda, and JamesAllen.com.
Signet has 40 stores in Missouri and 95 in Illinois, across all of its brands, according to its annual report.
“The company continues to strategically reduce and reposition its real estate footprint to increase store productivity and allow for more focused, impactful investments in compelling, digitally enabled new store designs, as well as targeted store appearance updates across the portfolio,” officials said in the report.
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