(WKBN) – The parent company of three retail brands is planning to close 150 of its stores across the country.
Signet Jewelers announced in a fiscal report that it will be shutting down the stores due to declining sales at malls. The company owns brands Kay Jewelers, Jared and Zales.
According to CBS News, this is part of the company’s three-year plan to cut its number of stores by 13%. In the previous fiscal year, Signet Jewelers closed 262 stores.
There is no word on if any of these closing stores will be local.
In a statement, Signet Jewelers said, “It’s our practice not to publish a list of store openings and closings. Importantly, for context, we have 3,334 stores and are closing 150.”