Zale's, a Diamond in the Rough

Irving-based Zale Corporation, which moved from Wichita Falls to the Mercantile Bank Building in downtown Dallas in 1946, has hit a rough patch -- again. Fourteen years after getting out from under Chapter 11, the company, which once boasted some 1,700 locations, announced today it's shuttering 105 stores this year...

By Robert Wilonsky

February 27, 2008

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Irving-based Zale Corporation, which moved from Wichita Falls to the Mercantile Bank Building in downtown Dallas in 1946, has hit a rough patch -- again. Fourteen years after getting out from under Chapter 11, the company, which once boasted some 1,700 locations, announced today it's shuttering 105 stores this year and eliminating more than 200 jobs. Far as the company's concerned, this ought to save the company some $65 million, give or take. Says Zale's president and CEO Neal Goldberg in the release today, "Creating a culture of cost discipline and financial rigor is vital to Zale's ongoing success." --Robert Wilonsky

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