Jewelery companies that own Kay and Zales, give up at shopping centers

Signet Jewelers, which owns the shops of Kay, Zales and Jared, have rolled out plans to move away from malls and close more than 150 stores around the world in the fiscal year. The world's largest diamond jewelry retailer says it follows 262 stores closed in the 2019 fiscal year.

Signet also announced that about 20 to 25 of its US stores would be moved to off-mall locations.

So far, the company

Kay Jewelers has maintained 1,247 US stores, including 28 in New Jersey .

Zales Jewelers and Zales Outlet currently have 704 stores, including 1[ads1]7 in New Jersey.

Jared The Galleria Of Jewelry has 274 stores, including at least seven in New Jersey.

At the end of 2020, the company expects it to have reduced its store base by 13% over a three-year period.

Since 2004, Kay has been the largest specialty retail store for jewelry store based on sales.

The plans were announced when the company said global fourth-quarter earnings in 2019, including the winter holidays, were $ 2.15 billion, down $ 138.4 million or 6% from the previous year.

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