Wednesday, June 10, 2020

Signet Closing 380 Stores This Year as Sales Are Hit by COVID-19

Signet Jewelers won’t reopen 230 stores it closed due to COVID-19 and then plans to close another 150 stores this year, executives said in a conference call held Tuesday.

The stores that won’t reopen include 150 stores in North America and 80 stores in the United Kingdom.

These closures mean that Signet’s store footprint will have shrunk more than 20% over the past few years, chief executive officer Gina Drosos (pictured) said in a conference call following the release of its financial results. Most of the closures were in B- and C-rated malls, she said.. . . more

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