Signet Jewelers to close another 150 stores

The world's largest diamond jewelry retailer plans to close another 150 stores in the fiscal year.

Officials with Signetjewelers, operating about 3,300 stores primarily under the names of Kay Jewelers, Zales, Jared The Galleria Of Jewelery and Piercing Pagoda, announced the closing Wednesday with their quarterly earnings.

Last fiscal year, the company closed 262 stores, including 232 stores in North America.

CEO Virginia C. Drosos said in a statement on Wednesday that the last fiscal year, the company started its "Road to Brilliance Transformation Travel", building basic skills to drive future growth. "She said the company made progress on" initiatives that achieved double-digit e-commerce growth, delivering $ 85 million in cost savings and continuing to optimize our store footprint.

Shop rods 201[ads1]9: Payless, Gymboree and Victoria's Secret are just some of the brands closing stores

April freebies: ] Your monthly food offer guide, meal offerings and more

(Photo: Jim Maguire)

"However, we have not completed the year as strongly as expected due to a highly competitive advertising environment, continued consumer failure in the UK, and lower than expected customer demand for older commodity collections that impacted our feather quarterly results the quarter, says Drosos.

According to a company statement, new openings will also be restricted "primarily consisting of repositories to off-template locations."

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

Of the company's 3 334 stores, 2,857 are stores in the United States, and Kay has most 1,214 and Zales stores with 658.

Based on figures from global market research company Coresight Research, bankruptcy records and corporate revenues, nearly 6 500 stores already slated to be shuttered.

Thanks! You're almost saying Boy up for

Keep an eye on an email to confirm the newsletter registration.

Oh baby, baby: What Walmart, Target and others do to fill the babies R Us, Toys R Us void

Bye-bye, & # 39; Paycheck & # 39; ?: Amazon's Whole Foods Market Shot Prices and Increase Prime Benefits

Kelly Tyko on Twitter: @KellyTyko


View thumbnails [19659016] View captions

Latest SlideNext Slide

Read or Share this story: https: // close-another-150 stores / 3361868002 /

Source link

Back to top button

mahjong ways

mahjong slot