Zales, Jared & Kay Jewelers Closing 380 Stores
Another in the retail apocalypse, Signet Jewelers who owns Zales, Jared and Kay Jewelers is shuttering 380 stores in 2020. This news comes after poor sales due to COVID pandemic. While they’re planning this over time, the list of stores closing includes 150 stores which will not reopen and 150 + 80 more will close. No word on whether these jewelry stores will have liquidation sales or clearance events as of yet.
In a Press Release on their website, Signet reported its Q1 earnings and a accelerated digital focus. In other words, they plan to focus more on online sales verses sales at brick and mortar physical stores.
And this is not just any online store, this digital acceleration will include a personalized customer service experience. Therefore, the virtual service has set shopping hours.
When Signet jewelry stores are closed, you can still shop. Because, Signet’s virtual service is available 9 am EST to 9 pm PST, seven days a week.
Signet Jewelers, the parent company of such brands as Zales and Jared, said it is permanently closing about 400 stores. This comes after reporting slumping sales in three-month period that ended May 2…. A portion of the online activity is being generated by virtual sales. CEO Gina Drosos told The Associated Press.
Signet, Zales, Jared & Kay Jewelry Plans After Closing Stores
Footprint Optimization: Accelerating Momentum
During the COVID-19 pandemic, the company made plans to emerge as a stronger and more efficient organization. As a first step under this accelerated initiative, they will not reopen at least 150 North America stores and 80 UK stores. Further, Signet plans to close at least an additional 150 stores by the end of the fiscal year.
Some Jewelry Stores Have Re-opened, Differently
Since some areas have allowed businesses to reopen after quarantine shutdowns, some 1,100 Signet jewelry stores have reopened. Nearly three-quarters of these are open to the public. And, the other stores are open for curbside pickup. These are primarily in Arizona, California, Florida, Georgia, North Carolina, Ohio, Texas, and Virginia.
The reopened stores have prioritized safety with social distancing measures. And, rigorous new sanitizing protocols. For example, employees will clean jewelry with alcohol wipes before and after customers try it on. Additionally, they’ll sanitize high-touch surfaces. And, employees will wear masks and, where appropriate, gloves.
About Signet Jewelers
Signet Jewelers Limited is the world’s largest retailer of diamond jewelry. Signet operates approximately 3,200 stores. Primarily under the name brands of Kay Jewelers, Zales, Jared, H.Samuel, , Peoples, Piercing Pagoda, and JamesAllen.com. Further information on Signet is available at www.signetjewelers.com.