Jewelry store company expects to close 200 stores

Signet Jewelers, parent of Zales, Kay Jewelers, Jared and other jewelry brands, expects to close more than 200 stores by the end of fiscal 2019.

Signet will undertake a real estate review as part of a new three-year strategy plan to drive change and profitability within the company. The plan will save $85 million — $100 million is fiscal 2019, with more cost reductions of $115 million to $125 million by the end of the three-year program.