May 25, 2017

Malls hinder sales for Kay, Zales, Jared brand owner

Paul Sakuma / AP

Signet Jewelers, owner of Kay, Zales, and Jared, is looking to drop out of malls: it's going to close between 165 - 170 stores this year and is aiming to open 90 - 115 stores elsewhere. Signet is the largest specialty retail jeweler in the U.S., U.K., and Canada.

Breaking it down: This adds to retailers' continued exodus from malls as they eye locations with better traffic to boost sales.

Another move to boost business: Signet is outsourcing its credit portfolio, which allows customers to make purchases, for a few reasons: "eliminating material credit risk...enhancing net sales...minimizing any disruption to business," according to the earnings conference call. Last year in-house credit sales dropped by 12.6%.

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 3 p.m. ET: 6,703,686 — Total deaths: 393,393 — Total recoveries — 2,906,748Map.
  2. U.S.: Total confirmed cases as of 3 p.m. ET: 1,885,197 — Total deaths: 108,708 — Total recoveries: 485,002 — Total tested: 18,680,529Map.
  3. Public health: WHCA president says White House violated social-distancing guidelines to make reporters "a prop" — Jailing practices contribute to spread.
  4. States: Cities are retooling public transit to lure riders back.
  5. Jobs: Better-than-expected jobs report boosts stock market.
  6. Media: The Athletic lays off 8% of staff, implements company-wide pay cut.

Scoop: German foreign minister to travel to Israel with warning on annexation

Heiko Maas. Photo: Michael Kappeler/picture alliance via Getty Images

German Foreign Minister Heiko Maas is expected to travel to Israel next week to warn that there will be consequences if Israeli leaders move forward with plans to annex parts of the West Bank, Israeli officials and European diplomats tell me.

Why it matters: Israeli and European officials agree that if Israel goes ahead with unilateral annexation, the EU will respond with sanctions.

Minneapolis will ban police chokeholds following George Floyd's death

A memorial for George Floyd at the site of his death in Minneapolis. Photo: Steel Brooks/Anadolu Agency via Getty Images

Minneapolis has agreed to ban the use of police chokeholds and will require nearby officers to act to stop them in the wake of George Floyd's death, AP reports.

Why it matters: The agreement between the city and the Minnesota Department of Human Rights, which has launched an investigation into Floyd's death while in police custody, will be enforceable in court.