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Directory:Zale Corporation

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Zale Corporation
Zale Corporation logo
Slogan Zales: The Diamond Store
Type [[Company_Type:=Public|Public]] ([[Exchange:=NYSE|NYSE]]: [http://www.nyse.com/about/listed/lcddata.html?ticker=ZLC ZLC])
Founded [[Year_Started:=1924|1924]], incorporated 1924
Headquarters Template:Country data US [[City:=Irving|Irving]], [[State_Name:=Texas|Texas]], [[Country_Name:=United States|USA]]
Key people [[Key_Person1:=Robert J. Dinicola|Robert J. Dinicola]], Chair
[[Key_Person2:=Betsy Burton|Betsy Burton]], CEO
[[Key_Person3:=Rodney Carter|Rodney Carter]], CFO
Industry [[NAICS_Code1_Title:=Jewelry Stores|Jewelry Stores]]
[[NAICS_Code2_Title:=Jewelry (except Costume) Manufacturing|Jewelry (except Costume) Manufacturing]]
Products See complete products listing
Revenue Green Arrow Up.svgUS$2.4 billion (2006)[1]
Operating income Green Arrow Up.svgUS$80.6 million (2006)[1]
(3.3% operating margin[2])
Net income Green Arrow Up.svgUS$51.3 million (2006)[1]
(2.1% profit margin[2])
Employees 16,300 (2005) [3]
Subsidiaries Zales Jewelers
Zales Outlet
Gordon's Jewelers
Bailey Banks & Biddle
Peoples Jewellers
Mappins Jewellers
Piercing Pagoda
Contact Zale Corporation
901 West Walnut Hill Lane
Irving, TX  US  75038-0000
972.580.4000  972.580.5547
[http://www.zalecorp.com www.zalecorp.com]   [mailto:ir@zalecorp.com Email]
Reference Year End: [[Year End:=0731|July/31]]
DUNS: na
NAICS:44831 33991


This article in MyWikiBiz Directory space was written by Gregory J. Kohs, prior to its inclusion in Wikipedia. This article may be replaced by its rightful legal owners. This article is copyrighted and not available under the provisions of the GFDL.


Zale Corporation (NYSE: ZLC) claims to be the largest specialty retailer of fine jewelry in North America, operating over 2,300 retail locations (which includes both kiosks and stores) throughout the United States, Canada, and Puerto Rico.[4] Zale Corporation is comprised of several diffenent business units: Zales Jewelers, Zales Outlet, Gordon's Jewelers, Bailey Banks & Biddle, Peoples Jewellers (in Canada), Mappins Jewellers (in Canada), Piercing Pagoda (a kiosk chain, focusing on gold chains, charms, and bracelets), and Internet-based enterprises, Zales.com and Baileybanksandbiddle.com.

History

The company began in 1924 in Wichita Falls, Texas, when Morris (M.B.) Zale, William Zale, and Ben Lipshy opened the first Zales Jewelers store.[5] At the time, credit plans were not common, so their concept of offering one was fairly revolutionary, marketed under the slogan, "a penny down and a dollar a week." By the beginning of World War II, the company had expanded to a dozen stores throughout Texas and Oklahoma.

During the lean war years, Zales maintained its prices and looked for expansion opportunities. In 1944, Corrigan's of Houston was acquired, a finer jewelry purchase that eventually launched the Bailey Banks & Biddle brand.

The year 1957 was marked both by Zales' first entry into a shopping center (rather than stand-alone downtown locations), and the company's listing on the American Stock Exchange.

In 1984, the company was bought out by a Canadian and Austrian consortium, and in 1989, the entity bought Gordon's Jewelers.


Legal Actions

In August 2006, a legal class action complaint was brought against Zale Corporation, on behalf of common stock purchasers between early 2005 and May 2006. The complaint charges Zale and certain of its officers and directors with violations of the Securities Exchange Act of 1934, specifically for omitting or misrepresenting material adverse facts about the company's financial prospects. [6]

Notes

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External links