Hearts on Fire to close down 120 underperforming retail stores

Diamond company Hearts on Fire is looking into closing accounts in over 120 retail stores, which it considers are underperforming, and will focus on existing stores that it considers strong. The company believes its move will enable consolidating and strengthening its workings with its strong retail base reflecting the brand experience and product deliverables uniformly across all Hearts on Fire stores in the world.

Account closures will first come about in the U.S., but the company intends to continue operating its store in Atlantic City, N.J. The company is expecting a robust performance in the next 24 months, which it sees coming in from the effective sales of its stronger stores. It is also planning to open new stores in the future.