Zales, Kay owner to close nearly 400 jewelry stores in shift to e-commerce

Signet Jewelers Ltd. (NYSE: SIG), owner of the Kay Jewelers, Zales and other jewelry chains, said it won’t reopen at least 150 North American stores and 80 U.K. stores, and it will close another 150 stores by the end of the year as it further shifts to online sales amid the coronavirus pandemic.

The Bermuda-based company, which has its North American headquarters in Akron, Ohio, in 2018 launched a companywide plan to move away from brick-and-mortar stores to expand online sales.

The Covid-19…