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Jewelery owner Kay, Zales and Jared plan to close up to 150 sites in fiscal year 2020 as part of a turnaround plan for the company.
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Signet Jewelers is recovering after a lenient holiday season and announced this move Wednesday as part of an effort to save $ 225 million, according to a statement.
"We did not finish the year as well as expected due to a very competitive promotional environment, continued weakness in UK consumption and weaker than expected customer demand for merchandise collections. that affected our fourth-quarter vacation results, "said Executive Director Virginia C. Drosos said in a statement.
The company closed 262 stores during the 2019 fiscal year. New store openings will primarily relocate to locations outside of shopping centers.
© 2019 Cox Media Group.
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