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Zale Corp

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BUSINESS
January 24, 1992 | From Reuter
Zale Corp., the jewelry store chain that has been under pressure from its creditors, filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code on Thursday. In an increasingly familiar pattern among troubled companies, Zale said it arranged what amounted to a prepackaged bankruptcy in which it will receive a $510-million loan from Chemical Banking Corp. to help Zale emerge from bankruptcy later.
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BUSINESS
February 19, 2014 | By Stuart Pfeifer
Signet Jewelers Ltd., a giant in the retail jewelry business, has agreed to acquire Zale Corp. in a deal the companies valued at $1.4 billion. Signet, which operates more than 1,400 Kay Jewelers and Jared the Galleria of Jewelry stores, will add Zale's 1,680 stores in the United States, Canada and Puerto Rico to its portfolio. Zale chief Theo Killion will continue to run the company after the acquisition, Signet Chief Executive Mike Barnes said. He will report directly to Barnes.
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BUSINESS
February 13, 2001 | Reuters
Zale Corp., the nation's largest jewelry retailer, reinstated former Chairman and Chief Executive Robert DiNicola to replace Beryl Raff and said it postponed reporting its fiscal second-quarter earnings from Wednesday until March 7. Zale said Raff, who was named to replace DiNicola in August, resigned to spend more time with her family and on personal interests. Zale and other jewelry retailers warned in December that quarterly profit would fall short of estimates because of weak holiday sales.
BUSINESS
May 23, 2007 | From Times Wire Services
Zale Corp. posted a loss in its fiscal third quarter, and the jewelry retailer blamed high gasoline prices that left middle-class consumers with less cash to spend. Zale officials also said they had hired an advisor to review the performance of the company's jewelry chains. It could lead to management changes or the sale of some brands, officials said. For the three months ended April 30, the Irving, Texas-based company lost $3.1 million, or 6 cents a share, compared with a profit of $16.
BUSINESS
September 2, 1992 | From Times Staff and Wire Reports
Judge OKs Zale's Hiring of Groussman as CEO: U.S. Bankruptcy Judge Steven Felsenthal approved Zale Corp.'s revised plan to hire former Canadian Tire Corp. President Dean Groussman as its chairman and chief executive. Felsenthal agreed to Groussman's hiring after the jewelry retailer trimmed the executive's compensation package to $850,000 in salary and benefits. Last week, Felsenthal rejected Zale's plan to pay Groussman $9.35 million in salary, benefits and stock options.
BUSINESS
August 31, 2000 | Bloomberg News
Zale Corp., the biggest U.S. specialty jewelry retailer, said fiscal fourth-quarter profit rose 36% to $11.6 million, or 32 cents a share, beating analysts' expectations of 29 cents. Zale, based in Irving, Texas, said sales jumped 15% to $373.8 million. Sales at stores open at least a year rose 6.4%. Zale also said that Robert DiNicola retired as chairman and will be replaced by Chief Executive Beryl Raff.
BUSINESS
August 8, 2001 | Associated Press
Zale Corp., North America's largest jewelry retailer, warned that fourth-quarter earnings will fall far short of Wall Street expectations as sales at stores open at least a year dropped nearly 10% in the period. The jewelry retailer said that earnings for the three months ended July 31 will be 5 to 10 cents a share. Analysts surveyed by Thomson Financial/First Call had expected earnings of 17 cents a share. Zale's sluggish sales performance compares with a 6.
BUSINESS
April 11, 2006 | From the Associated Press
Shares of jewelry retailer Zale Corp. tumbled almost 10% on Monday after the company said the Securities and Exchange Commission had started a probe into its accounting, executive pay and other matters. The SEC is looking into the company's accounting for extended service agreements, leases and accrued payroll as well as other matters, Zale said. The company's stock slumped $2.64 to $25.16.
BUSINESS
August 31, 2001 | Bloomberg News
Zale Corp.'s fiscal fourth-quarter profit fell 74% to $3 million, or 9 cents a share, exceeding reduced estimates, as the jewelry chain cut prices to get rid of lower-quality gems and gift items. Sales in the quarter ended July 31 rose 9.9% to $417 million, but sales at stores open at least a year fell 9.7%. Zale had warned this month that profit would be 5 cents to 10 cents a share, prompting analysts to reduce forecasts from 17 cents to 6 cents.
BUSINESS
July 23, 1986 | MARTHA GROVES, Times Staff Writer
Zale Corp., the world's largest jeweler, came to the realization two years ago that there wasn't as much gold in them thar diamonds as there once was. The 62-year-old company has since embarked on a massive remerchandising and remodeling effort for its largest division, Zale Jewelers, known for years as "the diamond store."
BUSINESS
April 11, 2006 | From the Associated Press
Shares of jewelry retailer Zale Corp. tumbled almost 10% on Monday after the company said the Securities and Exchange Commission had started a probe into its accounting, executive pay and other matters. The SEC is looking into the company's accounting for extended service agreements, leases and accrued payroll as well as other matters, Zale said. The company's stock slumped $2.64 to $25.16.
BUSINESS
February 19, 2003 | From Bloomberg News
Zale Corp., the largest North American jewelry retailer, had a second-quarter net loss of $46.2 million after writing down the value of its Piercing Pagoda acquisition. The net loss amounted to $1.44 a share, compared with net income of $95 million, or $2.70 a share, a year earlier, Zale said. Sales increased 1.3% to $908.4 million. Irving, Texas-based Zale shares rose 77 cents, or 2.6%, to $30.01 on the NYSE.
BUSINESS
July 13, 2002 | Bloomberg News
Zale Corp.'s fiscal fourth-quarter profit will be less than forecast because of slowing sales at the largest North American jewelry retailer. Shares fell 15%, the biggest drop in at least two decades. Profit will be 14 cents to 17 cents a share, excluding costs, in the quarter ending July 31, Zale said. The average estimate of analysts surveyed was 24 cents. Sales at stores open at least a year will rise 1% to 2%, the jewelry seller said. Slowing sales also led the largest U.S.
BUSINESS
August 31, 2001 | Bloomberg News
Zale Corp.'s fiscal fourth-quarter profit fell 74% to $3 million, or 9 cents a share, exceeding reduced estimates, as the jewelry chain cut prices to get rid of lower-quality gems and gift items. Sales in the quarter ended July 31 rose 9.9% to $417 million, but sales at stores open at least a year fell 9.7%. Zale had warned this month that profit would be 5 cents to 10 cents a share, prompting analysts to reduce forecasts from 17 cents to 6 cents.
BUSINESS
August 8, 2001 | Associated Press
Zale Corp., North America's largest jewelry retailer, warned that fourth-quarter earnings will fall far short of Wall Street expectations as sales at stores open at least a year dropped nearly 10% in the period. The jewelry retailer said that earnings for the three months ended July 31 will be 5 to 10 cents a share. Analysts surveyed by Thomson Financial/First Call had expected earnings of 17 cents a share. Zale's sluggish sales performance compares with a 6.
BUSINESS
February 20, 2001 | JAMES PELTZ and MICHAEL HILTZIK
Zale (ZLC) Jim: Buy Mike: Buy * Jim: Our two stocks today both got knocked silly recently, Mike, which no doubt prompts many investors to wonder whether the shares might now be a buy on the premise that the bad news is out of the way. Mike: Except that these situations always beg the question: Is the bad news really out of the way? Sometimes bad news begets more bad news. Jim: Where there's smoke there's fire. Mike: Or a smoke-making machine. Anyway, at Zale Corp.
BUSINESS
February 20, 2001 | JAMES PELTZ and MICHAEL HILTZIK
Zale (ZLC) Jim: Buy Mike: Buy * Jim: Our two stocks today both got knocked silly recently, Mike, which no doubt prompts many investors to wonder whether the shares might now be a buy on the premise that the bad news is out of the way. Mike: Except that these situations always beg the question: Is the bad news really out of the way? Sometimes bad news begets more bad news. Jim: Where there's smoke there's fire. Mike: Or a smoke-making machine. Anyway, at Zale Corp.
BUSINESS
February 19, 2014 | By Stuart Pfeifer
Signet Jewelers Ltd., a giant in the retail jewelry business, has agreed to acquire Zale Corp. in a deal the companies valued at $1.4 billion. Signet, which operates more than 1,400 Kay Jewelers and Jared the Galleria of Jewelry stores, will add Zale's 1,680 stores in the United States, Canada and Puerto Rico to its portfolio. Zale chief Theo Killion will continue to run the company after the acquisition, Signet Chief Executive Mike Barnes said. He will report directly to Barnes.
BUSINESS
February 13, 2001 | Reuters
Zale Corp., the nation's largest jewelry retailer, reinstated former Chairman and Chief Executive Robert DiNicola to replace Beryl Raff and said it postponed reporting its fiscal second-quarter earnings from Wednesday until March 7. Zale said Raff, who was named to replace DiNicola in August, resigned to spend more time with her family and on personal interests. Zale and other jewelry retailers warned in December that quarterly profit would fall short of estimates because of weak holiday sales.
BUSINESS
August 31, 2000 | Bloomberg News
Zale Corp., the biggest U.S. specialty jewelry retailer, said fiscal fourth-quarter profit rose 36% to $11.6 million, or 32 cents a share, beating analysts' expectations of 29 cents. Zale, based in Irving, Texas, said sales jumped 15% to $373.8 million. Sales at stores open at least a year rose 6.4%. Zale also said that Robert DiNicola retired as chairman and will be replaced by Chief Executive Beryl Raff.
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