Kay accounted for 39% of Signet’s sales in Fiscal 2018 and operated 1,247 stores in 1.9 million selling square feet in 50 states as of February 3, 2018. Since 2004, Kay has been the largest specialty retail jewelry store brand in the US based on sales. Kay targets a mid-market jewelry customer. Kay mall stores typically occupy about 1,600 square feet and have approximately 1,300 square feet of selling space, whereas Kay off-mall stores typically occupy about 2,200 square feet and have approximately 1,800 square feet of selling space. Kay operates in malls and off-mall stores. Off-mall stores primarily are located in outlet malls and power centers. Management believes off-mall expansion is supported by the willingness of customers to shop for jewelry at a variety of real estate locations and that increased diversification is important for growth.

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