Content about Zale Corporation

April 15, 2014

Signet Jewelers’ $1.4 billion deal to acquire 90-year-old jewelry mainstay Zales made big headlines back in February. But reporters, analysts and investors were not the only ones paying attention to the pending purchase — as soon as they heard the news, mall managers and mall-based jewelers knew the King Kong of retail jewelry had just been born.

By Michael Lebowitz, director of jewelry, White Pine Jewelry Solutions

April 7, 2014

Signet Jewelers Limited and Zale Corporation have announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the proposed acquisition of Zale by Signet.

Hamilton, Bermuda -- Signet Jewelers Limited and Zale Corporation have announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the proposed acquisition of Zale by Signet.

The expiration of the HSR Act waiting period satisfies one of the conditions to the closing of the proposed acquisition, which remains subject to approval by Zale’s stockholders and certain other customary closing conditions.

February 28, 2014

Zale Corp. reported a 10% in net earnings during the second quarter of fiscal 2014, rising to $51 million from $41 million in the same quarter the prior year.

Dallas – Zale Corp. reported a 10% in net earnings during the second quarter of fiscal 2014, rising to $51 million from $41 million in the same quarter the prior year. However, revenues dipped 2% to $656 million from $671 million, while same-store sales rose 1.9%.

Zale attributed the decline in revenues primarily to the net decrease of 86 stores compared to fiscal 2013 and a decline in the Canadian exchange rate, partially offset by the 1.9% constant currency same-store sales growth.

February 19, 2014

In a deal that would combine the two largest mid-tier jewelry chains in the United States, Signet Jewelers Ltd. has agreed to buy rival Zale Corp.

Hamilton, Bermuda - In a deal that would combine the two largest mid-tier jewelry chains in the United States, Signet Jewelers Ltd. has agreed to buy rival Zale Corp. The total estimated value of the deal is about $1.4 billion. Signet will offer $21 in cash for each Zale share, representing a 41% premium over Tuesday's closing price.

January 10, 2014

Revenues for the two-month 2013 holiday period at Zale Corporation dropped 2% to $556 million from $567 million in the same period the prior year.

Irving, Texas -- Revenues for the two-month 2013 holiday period at Zale Corporation dropped 2% to $556 million from $567 million in the same period the prior year. Zale said the decrease in revenues is primarily due to the net decrease of 91 stores compared to last year and a decline in the Canadian exchange rate, partially offset by 2% overall same-store sales growth including e-commerce sales.

November 28, 2013

Zale Corp. narrowed its first-quarter loss slightly and reported its 12th consecutive quarterly sales increase.

Irving, Texas -- Zale Corp. narrowed its first-quarter loss slightly and reported its 12th consecutive quarterly sales increase.

Zale reported a net loss of $27. 3 million in the quarter ended Oct. 31, compared to $28.3 million, a year ago. The prior year included a gain of $1.9 million from a settlement.

First-quarter sales increased 1.4% to $363 million, in line with expectations.

Same-store sales rose 4.4%. Zales Jewelers and Zales Outlet stores posted a same-store sales increase of 7.5%.

September 9, 2013

Sterling Jewelers and Zale Corporation have reached a negotiated settlement of a lawsuit pending in The United States District Court for the Northern District of Ohio.

Akron, Ohio - Sterling Jewelers and Zale Corporation have reached a negotiated settlement of a lawsuit pending in The United States District Court for the Northern District of Ohio. The suit, originally filed in November 2012, alleged that Zale was engaging in false advertising by calling one of its diamonds “the most brilliant diamond in the world.”

The settlement will go into effect March 2014. Details are confidential.

 

August 28, 2013

Zale Corp. narrowed its net loss in the fourth quarter to $8 million, from $19.7 million a year ago.

Dallas -- Zale Corp. narrowed its net loss in the fourth quarter to $8 million, from $19.7 million a year ago. Despite the loss, the retailer reported its first profitable fiscal year since the financial crisis in 2008.

May 22, 2013

Zale Corp. on Wednesday reported net income of $5.1 million for the third quarter, compared with a loss of $4.5 million in the year-ago period.

Dallas — Zale Corp. on Wednesday reported net income of $5.1 million for the third quarter, compared with a loss of $4.5 million in the year-ago period. The company also named Terry Burman as a director and as chairman of the board. Burman is the former CEO of Signet Jewelers Ltd., parent of Zale’s biggest rival, Kay Jewelers.

John Lowe Jr., Zales’ chairman for the past five years, will remain on the board.

February 21, 2013

Zale Corp. posted a better than expected second quarter profit as sales rose at its namesake chain and it cut selling and administrative costs.

Dallas -- Zale Corp. on Thursday posted a better than expected second quarter profit as sales rose at its namesake chain and it cut selling and administrative costs. The company restated its forecast that it will return to profit for its current fiscal year, which ends in late July.

Net profit in the quarter ended January 31, 2012, rose to $41.2 million, compared with $28.8 in the year-ago period.

Revenues rose 1.1% to $671 million. Overall same-store sales increased 2.8%, with a 3.6% increase at Zales and Zales Outlets.
 

November 21, 2012

Zale Corp. reported a bigger-than-expected first-quarter loss on Tuesday, but said it is on track to turn a profit again.

Dallas -- Zale Corp. reported a bigger-than-expected first-quarter loss on Tuesday, but said it is on track to turn a profit again.

The jewelry retailer lost $28.3 million for the quarter that ended Oct. 31, compared to a year-ago loss of $31.9 million.

Revenue rose 1.8% to $357.5 million. Same store sales rose 3.9%. It was the chain’s eighth consecutive quarter of positive same-store sales.

 

November 12, 2012

Zale Corp. announced the addition of Genesis Financial Solutions to its U.S. alternative financing program.

Dallas -- Zale Corp. announced the addition of Genesis Financial Solutions to its U.S. alternative financing program. The new financing option, which became available in October, is offered in Zales, Zales Outlet and Gordon’s retail stores.

March 13, 2012

Zale Corp. said that it has named Jamie Singleton as senior VP and general manager of Piercing Pagoda, effective March 27.

Dallas -- Zale Corp. said Tuesday that it has named Jamie Singleton as senior VP and general manager of Piercing Pagoda, effective March 27.

Singleton is charged with overall responsibility for the company’s kiosk business and will report to Theo Killion, CEO.

Singleton most recently served as senior VP business expansion at CPI Corp.

February 22, 2012

Zale Corp. posted a higher second quarter profit helped by a surge in holiday sales.

Dallas -- Zale Corp. posted a higher second quarter profit helped by a surge in holiday sales. Net profit rose to $28.8 million, from $27.2 million a year ago.

Overall revenue rose 6% to $663.8 million. Same-store sales rose 5.8%.
 

February 2, 2012

Zale Corp. announced that Ken Brumfield has been appointed senior VP financial products.

Dallas -- Zale Corp. announced that Ken Brumfield has been appointed senior VP financial products. In this role, he will be responsible for all customer financing, warranty, insurance and repair product offerings.

January 10, 2012

Zale Corp. reported that same-store sales for the holiday selling season of November and December 2011 rose 5.9%, compared with an 8.5% gain in the same period last year.

Dallas -- Zale Corp. reported Tuesday that same-store sales for the holiday selling season of November and December 2011 rose 5.9%, compared with an 8.5% gain in the same period last year.

Within the two-month period, same-store store sales increased 10.1% in November and 4.2% in December.

Revenues for the two-month period were $564 million, compared with $533 million in the same period last year, an increase of 5.8%.

November 1, 2011

Zale Corp. said it has appointed Subha Ramesh as senior VP real estate, effective immediately.

Dallas -- Zale Corp. said Monday it has appointed Subha Ramesh as senior VP real estate, effective immediately.

Ramesh, who will report to chief administrative officer Matt Appel, was previously senior VP of Hilco Real Estate. Prior to that, she spent eight years at Limited Brands as senior VP real estate and as VP real estate for Intimate Brands.

October 31, 2011

NewComLink announced that Zale Corp. has implemented the NewComLink platform as part of its new program to provide alternative financing options to its U.S. customers.

Austin, Texas -- NewComLink announced that Zale Corp. has implemented the NewComLink platform as part of its new program to provide alternative financing options to its U.S. customers.

Zale announced the new alternative financing program on Aug. 31.

October 25, 2011

Retail credit solution-provider NewComLink said that Zale Corp. has implemented the NewComLink platform as part of its new program to provide alternative financing options to its U.S. customers.

Austin, Texas -- Retail credit solution-provider NewComLink said Tuesday that Zale Corp. has implemented the NewComLink platform as part of its new program to provide alternative financing options to its U.S. customers.

Zale announced the new alternative financing program on Aug. 31, which is currently available in all Zales, Zales Outlet and Gordon’s retail stores.

October 12, 2011

Zale Corp. said Wednesday that it has named Thomas A. Haubenstricker as senior VP and CFO, effective Oct. 17.

Dallas -- Zale Corp. said Wednesday that it has named Thomas A. Haubenstricker as senior VP and CFO, effective Oct. 17.

Haubenstricker joins Zale from Turnberry Advisors where he served as a managing director.

September 7, 2011

Zale Corporation announced that Brad Furry has been named SVP, CIO. Prior to joining Zale, he spent 21 years at The Neiman Marcus Group, most recently as VP enterprise services.

Dallas — Zale Corporation announced that Brad Furry has been named SVP, CIO. Prior to joining Zale, he spent 21 years at The Neiman Marcus Group, most recently as VP enterprise services.

Furry will have responsibility for all information technology strategy and operations functions throughout the company.

August 31, 2011

Zale Corp. reported Wednesday that its loss for the quarter ended July 31 widened to $32.6 million from $28.5 million a year earlier.

Dallas -- Zale Corp. reported Wednesday that its loss for the quarter ended July 31 widened to $32.6 million from $28.5 million a year earlier. Its results were impacted by increased inventory charges and absent a one-time gain recorded a year ago.

Revenue rose 9% to $377.3 million, compared with $345 million in the year-ago period. Wall Street expected higher losses on revenue of $360.4 million.

Same-store sales increased 9.8% in the quarter.

August 30, 2011

Zale Corp. is teaming up with celebrity Jessica Simpson on an exclusive collection of diamond fashion jewelry. Terms of the deal were not disclosed.

Dallas -- Zale Corp. is teaming up with celebrity Jessica Simpson on an exclusive collection of diamond fashion jewelry. Terms of the deal were not disclosed.

Jessica Simpson, known as a pop music artist, actress and reality TV personality, has become quite successful in the fashion world. Her Jessica Simpson Collection, which sells shoes, clothing, fragrances and other goods, is said to be worth about $1 billion.

August 12, 2011

Zale Corp. and designer Vera Wang announced they are teaming up on an exclusive line of diamond bridal jewelry.

Dallas -- Zale Corp. and designer Vera Wang announced they are teaming up on an exclusive line of diamond bridal jewelry.

The new Vera Wang Love collection will include diamond engagement rings, matching wedding bands and solitaire bridal jewelry. Each ring will have the Vera Wang Love logo, and every engagement ring will include a blue sapphire.

The collection will be sold only at Zale stores in the United States, Canada and Puerto Rico. The jewelry will be in United States and Puerto Rico stores in October.
 

May 25, 2011

Zale Corp. said its net loss shrank in its most recent quarter and posted a double-digit revenue gain despite increasing costs for gold, silver and diamonds. The company posted a net loss for the three months that ended on April 30 of $9 million, compared to $12.1 million in its fiscal third quarter last year. Analysts had expected a far deeper loss.

Dallas — Zale Corp. said its net loss shrank in its most recent quarter and posted a double-digit revenue gain despite increasing costs for gold, silver and diamonds. The company posted a net loss for the three months that ended on April 30 of $9 million, compared to $12.1 million in its fiscal third quarter last year. Analysts had expected a far deeper loss.

Overall revenue rose 14.5% in the three months that ended on April 30 to $411.8 million, from $359.8 million last year. Analysts had expected $392 million. Same-store sales in the quarter were up 15.2%.