The parent company of Kay Jewelers is planning to close more than 150 stores.
The company, Signet Jewelers, owns Kay, Piercing Pagoda, Zales and several other jewelry stores. It runs at least seven stores under various names from Fresno to Tulare and Hanford, several of them in local malls.
A company spokesman said it will not publish a list of closing stores, and that most stores would close sometime after the holidays.
Piercing Pagoda also has a store at Fashion Fair.
Zales has an outlet store at the Tulare Outlets.
The company is closing fewer stores than it did during its last fiscal year, when it closed 262 stores, according to the company’s most recent earnings release.
It will have “ limited new store openings” during its current fiscal year, (20 to 25 new stores) mostly “repositions” to locations that aren’t in malls. Some shopping malls across the country have struggled as they lose customers to shopping online and several large chain stores have closed locations.
Together, the closures and openings together would leave the company with a 2.5 percent to 3.5 percent decrease in company’s sales floor space. In all, the number of stores will have shrunk by about 13 percent over a three-year-period.