Wednesday, March 14, 2018

Signet Jeweler’s new ‘transformation’ plan includes store closings

Chain Store Age

Signet Jewelers Ltd., parent of Zales, Kay Jewelers, Jared and other jewelry banners, will undertake a real estate review as part of a new, three-year strategy to revive the company and drive long-term profitability.

The jewelry giant anticipates closing more than 200 stores by the end of fiscal 2019. With three-quarters of the stores expected to close located in the same mall as another Signet banner, the company said it expects approximately 30% of revenue from closed stores to transfer to remaining Signet stores.. . . more