O'Connell said she cannot justify finding another location downtown, saying there aren't enough new businesses in the area to attract shoppers.
The store's most consistent customers are people who work downtown. She said Saturdays are slow.
On Wednesday, the O'Connells host a farewell open house for their regular customers. They bought the downtown jewelry store from Kay Jewelers in 1971.
But with the couple's O'Connell Jewelers in Valley Mall, no employees will be laid off, Diane O'Connell said.
Marcie & Me women's apparel shop closed last Saturday, and Jane Anderson Brides will open on Thursday in the 11 N. Potomac St. shop, said Jane Anderson.
Anderson said the new location has access to better parking and will allow her to have her entire showroom on one floor.
Jane Anderson Brides' current location will be closed on Tuesday and Wednesday as the store moves, Anderson said.
Beverly McCleary, co-owner of Marcie & Me, would not say why the shop was closed. She and her husband bought the shop in January, 1989.