Tiffany, Macy'sAmong Retailers Closing US Stores

RAPAPORT... Tiffany & Co. is among a growing number of US retailers temporarily shuttering all locations across North America in an effort to stem the coronavirus spread."Effective immediately, we're temporarily closing all Tiffany stores in the US and Canada, as well as many other locations globally, to protect our teams, clients and communities," the jeweler said in an Instagram post Tuesday. "Now more than ever it is time for us to take care of the ones we love."Macy's closed all its stores nationwide as of close of business Tuesday, including its Bloomingdale's department-store chain. However, all its brands will continue to operate via online sites and mobile apps, it noted."The health and safety of our customers, colleagues and communities is our utmost priority," Macy's CEO Jeff Gennette said Tuesday. "We will work with government and health officials to assess when we will reopen."Nordstrom has also announced it will suspend operations at all its North American stores, yet the company has limited the closure to a two-week period, it said. During that time it will offer curbside pickup for online orders. Meanwhile, Saks department store has shut its New York and Philadelphia locations, according to the Los Angeles Times.Signet Jewelers has not declared official plans to close any stores, but said it would follow the advice of the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC). "Nothing is more important than the safety of our employees and customers," David Bouffard, Signet's vice president of corporate affairs, told Rapaport News Wednesday.Signet shares were down 35% since start of trading on Wednesday, March 11, while Macy's dropped 29% and Tiffany slipped 11%. Image: A Tiffany store in Las Vegas. (Shutterstock)