Kay, Jared and Zales owner plans to close 150 jewelry stores


Signet Jewelers Limited, the controlling company of Kay Jewelers, Jared and Zales, has announced that it will close 150 stores by 2020.

According to a press release, the decision was made because of declining sales.

"We did not end the year as strongly as expected due to a highly competitive promotional environment, continued consumer weakness in the UK and lower than expected customer demand for collections of legacy products that impacted our fourth quarter holiday results," explained CEO Virginia Drosos.

She said she is now planning to focus on opening stores in locations outside the malls.

Last year, they closed 262 stores.

Signet Jewelers Limited is the largest diamond jewelry retailer in the world.


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