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Kay Jewelers to open store in New York

Jun '05
Nation's number one specialty jewelry brand Kay Jewelers to open stores in Summer 2005.

Kay Jewelers in the U.S. with annual sales of more than $1 billion, recently announced plans to open a store in New York City in June 2005. The Kay Jewelers store will be located at 136 W. 34th Street in Manhattan.

Terry Burman, Chairman and Chief Executive Officer of Sterling Jewelers Inc., parent company of Kay Jewelers, Jared the Galleria of Jewelry and a variety of regional names, said Kay's expansion into New York City as well as other key metropolitan markets, is an important element in the company's real estate growth strategy.

Currently, Kay Jewelers, which targets the middle-market consumer, operates more than 750 stores, primarily in shopping malls across the country, including a store in the Queens Center Mall in Queens, New York.

"Investing in quality real estate, such as those in metropolitan areas, is one of the factors that have contributed to our industry-leading growth," Burman said. "And, while we follow strict criteria when evaluating our real estate investments, we believe that the quality of our prime store portfolio, together with our regular investment in mall store openings, refurbishments
and relocations, merchandising and marketing, clearly gives us a competitive advantage and contributes to our industry-leading results."

Located primarily in malls and shopping centers across the country, Kay Jewelers offers an assortment of quality jewelry items -- gold, colored gemstones, Swiss timepieces and diamonds -- to accommodate every budget.

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