February 25, 1987
The Duarte, Calif., company, which went public last April, said it agreed to purchase 63 Mission Jewelers stores in the Southwest and Southeast from Zale Corp. and nine jewelry stores in Oklahoma and Texas from a privately owned company. The stores, to be bought for an undisclosed amount of cash, will bring the company total to 209. The company also disclosed that it expects net income per share for the fiscal year ending May 31 to be 20% to 35% below the 87 cents a share in the previous year.
May 24, 1989 |
Zale Corp., the nation's largest jewelry chain, said today it will pay $310.9 million for Gordon Jewelry Corp., the No. 2 chain with more than 600 stores. Gordon stock, which already had been trading at record levels on speculation that the company would be sold, shot up more than $6 on the news to near the proposed sale price of $36.75 a share. Gordon, founded as a general store in Houston in 1905, had a net profit last year of $6.2 million on sales of $389.6 million. About two-thirds of Gordon's stores sell contemporary, moderately priced jewelry, almost exclusively in shopping malls.