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Kay, Zales parent company to close 150 stores

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The parent company of Kay Jewelers, Zales, Jared The Galleria Of Jewelry and Piercing Pagoda announced plans to close 150 stores.

Signet Jewelers last year closed 262 stores, 232 of which were in North America.

"We did not finish the year as strongly as expected due to a highly competitive promotional environment, continued consumer weakness in the U.K., and lower-than-expected customer demand for legacy merchandise collections that impacted our holiday fourth-quarter results," CEO Virginia Drosos said.

Read more from USA Today.


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