Signet, which runs some 3,300 stores under various jewelry banners including Kay Jewelers, Zales, Jared, The Galleria Of Jewelry, H.Samuel and Piercing Pagoda, on Wednesday said it will shutter 150 underperforming stores during its current fiscal year — and that by fiscal year's end "it will have reduced its store base by 13% over a three-year period." The company closed down 262 during its just-completed full year, according to a company press release.
Same-store sales in the quarter fell 2% after a 5.2% decline the year before.. . . more