1408 ET - Signet Jewelers' real-estate strategy involves potentially closing, relocating and renovating hundreds of its approximately 2,600 stores. The retailer could close as many as 150 underperforming stores over the next two years, CFO Joan Hilson says on a call with analysts. These stores' inventories would be transferred to nearby locations or used for e-commerce sales, she adds. Additionally, "nearly 200 stores in our fleet have healthy performance, but are in venues that we believe are in decline," Hilson says. "Over the next two to three years, we expect to reposition many of these stores to off-mall locations." Finally, the company will work to refresh its existing stores, as it expects to renovate about 200 locations this year. Signet's repositioning and renovation investments should deliver a low- to mid-single-digit boost to sales, Hilson adds. (connor.hart@wsj.com)
(END) Dow Jones Newswires
March 19, 2025 14:08 ET (18:08 GMT)
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