Signet Jewelers, the parent company of Zales, Jared and Kay, is closing more than 300 of its stores after a reported three-month decline of sales in wake of the coronavirus.
It said 150 locations of its stores closed in the United States this year due to the coronavirus pandemic, as well as 80 locations of the retailer closed in the UK. None of the locations will reopen, according to reports. Another 150 are set to close later this year.
More than 1,100 stores have reopened after temporary closures due to COVID-19.
"Throughout the COVID-19 crisis, we have prioritized the health and safety of our team members and customers with every decision we make," Signet CEO Gina Drosos said in the company's earnings call Tuesday, Business Insider reported. "We are gathering valuable insights on customer behaviors and plan to use these learnings to enhance our competitive advantage and emerge stronger from the crisis with optimized virtual and physical footprints to meet our customers where and how they choose to shop."
Signet has more than 3,000 stores, including 2,736 in North America. Signet operates H.Samuel, Ernest Jones, Peoples, Piercing Pagoda and JamesAllen.com in addition to Zales, Jared and Kay.