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Jacksonville’s Underwood Jewelers Will Close Mall Store

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Business ‘started going backward’ as customer traffic declined.

Underwood Jewelers, which operates three stores in Jacksonville, FL, and one in Ponte Vedra Beach, will close its location at Jacksonville’s Avenues mall Sept. 27, the Jacksonville Daily Record reports. In the article, Underwood President Clayton Bromberg cites the difficulty of mall retail. “Malls are a very, very high cost place to operate,” he says, “and it’s our smallest store by volume by a long shot and it is no longer growing.” The store opened six years ago, and it grew for the first four and a half years, “and then started going backward,” says Bromberg, who notes that mall traffic is down, and mall customers who remain have less disposable income.

Read more at the Jacksonville Daily Record

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