Signet — the parent company of several mall-based jewelry stores, including Kay, Zales, Jared, and Piercing Pagoda — will permanently shutter nearly 400 of its locations in the U.S., Canada, and Britain.
While sales were strong around Valentine's Day, the coronavirus pandemic hit Signet hard; with its stores forced to closed, the company had a first-quarter loss of $291 million and a 40.5 percent sales decline to $852.1 million, The Dallas Morning News reports.
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