Zale Corporation

Zale Corporation
	Zales location inSugarloaf Mills.
Company type	Subsidiary
Traded as	NYSE:ZLC
Industry	Retailing
Founded	1924 (Wichita Falls, Texas)
Headquarters	Irving,Texas, United States
Number of locations	Zales and Gordon's: 781; Zales Outlet: 130; Peoples and Mappins: 206; Piercing Pagoda: 652 (October 2012)
Key people	Terry Burman (Chairman); Terrell Wilson (CEO); Matthew Appel (CAO)
Products	Jewelry
Revenue	US$1.888 billion (2013)
Operating income	$35.12 million (2013)
Net income	$10.01 million (2013)
Total assets	$1.187 billion (2013)
Number of employees	12,500 (July 2012)
Parent	Signet Jewelers; (2014–present)
Divisions	Zales; Gordon's Jewelers; Peoples Jewellers; Mappins; Piercing Pagoda;
Website	www.zales.com
	Footnotes / references;

TheZale Corporation(best known asZales) is an Americanjewelry retailer,incorporatedinDelawarein 1993. The principal executive offices are located inCoppell, Texas.^[4]

History

The company began in 1924 inWichita Falls, Texas,when the twoRussian-Jewishimmigrant brothers Morris (M. B.) Zale and William Zale (born Zalefsky), along with Ben Lipshy opened the first Zales Jewelers store^[5](now a division in the multi-division company).

As a marketing strategy, the Zale brothers instituted a credit plan whereby customers could pay "a penny down and a dollar a week", making jewelry and other merchandise affordable for the average working American. The success of this credit policy led to the company expanding to a total of 12 stores in Oklahoma and Texas by 1941. Zales Jewelers moved its headquarters from Wichita Falls toDallasin 1946. In 1998, online shopping was opened at www.zales.com.

Corporate restructuring

In 1957, Zales Jewelers opened its first store in a shopping center—a major shift from operating only in downtown locations. The same year, Zales announced the initial public offering of its stock (ZLC) and began trading its public shares on the American Stock Exchange in 1958. In 1989, Zale acquired Gordon's Jewelers, which had been a major competitor.^[6]Zales bought the Skillern Drug pharmacy chain in the 1960s, but sold it in 1980.^[7]

Until 1986, Zales operated acatalog showroomcalled O. G. Wilson.^[8]

In 1986, People's Jewelers bought Zales.

On January 1, 1992, Zale filed forChapter 11 bankruptcy.^[9]

In 1999 and 2000, Zale expanded with two major acquisitions: Peoples Jewellers of Canada and Piercing Pagoda.

In 2007, the company divested itsBailey Banks & Biddlebrand toFinlay Enterprises.^[10]

In February 2014,Signet Jewelersagreed to buy Zale Corporation, with Zale shareholders receiving US$21 a share in cash in US$1.3 billion deal.^[11]The merger created a $6.2 billion firm.^[11]

In January 2017, Zales announced it would close a handful of its mall stores when the leases expire, to avoid duplication with former rival Kay Jewelers.^[12]

In 2018, the company moved its headquarters to a new building in Coppell, Texas.^{[citation needed]}

References

^"Zale Corporation 2012 Annual Report".
^[1]^{[dead link‍]}
^"Zale Corporation | Company profile from Hoover's".Archived fromthe originalon 2010-02-01.Retrieved2010-02-04.
^"Contact Zale Corporation."Zale Corporation. Retrieved on November 17, 2012." EXECUTIVE OFFICES 901 W. Walnut Hill Lane Irving, TX 75038-1003 "
^Harry Hurt III(June 1977)."Diamonds Aren't Forever".Texas Monthly.
^Nina Andrews (1989-05-25)."COMPANY NEWS; Zale to Acquire Gordon Jewelry".The New York Times.ISSN 0362-4331.Retrieved2015-09-06.
^"Zale Corporation – Company Profile, Information, Business Description, History, Background Information on Zale Corporation".www.referenceforbusiness.com.
^"History of Zale Corporation – FundingUniverse".www.fundinguniverse.com.
^"Zale Corporation forced into bankruptcy".The Washington Post.January 1, 1992.RetrievedFebruary 24,2023.
^Zale Corporation (2005)."Zale Corporation: Our History".Corporate homepage.Retrieved2006-09-17.
^^a ^bKarr, Arnold J. (19 February 2014)."Signet to Buy Zale".WWD.Retrieved19 February2014.
^Barr, Barbara (12 January 2017)."Lebanon Valley Mall may lease to daycare centers, medical offices"– via www.wgal.com.

External links

Zales Jewelers
ZALE JEWELRY CORPORATIONfrom theHandbook of TexasOnline
- Historical business data for Zale Corporation:
- SEC filings

[1] "Zale Corporation 2012 Annual Report".

[phx.corporate-ir.net-2] [1]^{[dead link‍]}

[3] "Zale Corporation | Company profile from Hoover's".Archived fromthe originalon 2010-02-01.Retrieved2010-02-04.

[4] "Contact Zale Corporation."Zale Corporation. Retrieved on November 17, 2012." EXECUTIVE OFFICES 901 W. Walnut Hill Lane Irving, TX 75038-1003 "

[5] Harry Hurt III(June 1977)."Diamonds Aren't Forever".Texas Monthly.

[6] Nina Andrews (1989-05-25)."COMPANY NEWS; Zale to Acquire Gordon Jewelry".The New York Times.ISSN 0362-4331.Retrieved2015-09-06.

[7] "Zale Corporation – Company Profile, Information, Business Description, History, Background Information on Zale Corporation".www.referenceforbusiness.com.

[8] "History of Zale Corporation – FundingUniverse".www.fundinguniverse.com.

[9] "Zale Corporation forced into bankruptcy".The Washington Post.January 1, 1992.RetrievedFebruary 24,2023.

[10] Zale Corporation (2005)."Zale Corporation: Our History".Corporate homepage.Retrieved2006-09-17.

[Signet_to_Buy_Zale-11] Karr, Arnold J. (19 February 2014)."Signet to Buy Zale".WWD.Retrieved19 February2014.

[12] Barr, Barbara (12 January 2017)."Lebanon Valley Mall may lease to daycare centers, medical offices"– via www.wgal.com.

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