owner of kay jewelers, zales and jared to close 150 more stores - the jewelry store
Signet Jewellers with retail brands of Kay Jewelers, Zales and Jared are closing 150 stores.
The jewelry giant is the world's largest diamond jewelry retailer with more than 3,500 branches.
It has closed 262 locations, part of three
It plans to reduce the number of stores by 13%.
Signet Jewelers, the parent company of Kay Jewelers, Zales and Jared retail brands, announced on Wednesday that 150 stores will be closed after sales decline.
The jewelry giant, which operates more than 3,500 locations, is launching a third
It is planned to close 13% (about 455) stores.
Signet has closed 262 stores (
232 of them are in North America)
Focus on the poor performing shopping malls.
The company said the latest closure is likely to happen after the 2019 holiday.
Despite exceeding earnings expectations in the last quarter, Signet still reported a 2% year-on-year declinestore sales.
The company accused American consumers of being weak. K.
Holiday performance is low.
"We are not doing this year's mission as strongly as expected," Virginia Deros, CEO of Signet Jewelers, said in a statement.
A cbs News poll showed a controversial police video showing mass power outages among protesters in Hong Kong.
Sales focus and redesign of remaining stores will help revive its brand.
It focuses on cutting stores in shopping malls with poor walking traffic.
Brick in North Americaand-
Mortar sales fell by 2.
Sales last quarter were 5%, but online sales rose by about 7%.
Before walking into the store, 70% of customers were already shopping on the brand's online site, Drosos said.
Investors seem satisfied with the strategy and earnings performance.
Shares of Signet Jewelers rose 3% in Thursday morning trading.