Retail Industry
Industry: Email Alert RSS FeedZale Aims to Regain Market Dominance.
Jewelers Circular Keystone, February, 2007
By William George Shuster, Senior Editor
Zale Corp.'s president, Betsey Burton, vows to recapture market share by going back to basics.
The year 2006-both fiscal and calendar-was rough on Zale Corp. Shrinking market share and disappointing holiday and quarterly results for its flagship Zales Jewelers forced out several top executives. An upscale repositioning of Zales failed. Unofficial feelers on a possible merger with London-based Signet Group (parent of Sterling Inc., Zales' biggest U.S. competitor, which operates Kay Jewelers) collapsed when word leaked to the press. Zale Corp.'s accounting practices were studied by the U.S. Securities and Exchange Commission (ending in September without action or penalty). Class-action lawsuits were filed by some...
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