Zale to Close 60 Stores in Next 3 Months
January 16, 08
Zale Corp Chief Administrative Officer Rodney Carter revealed this week that, in the next 90 days, Zale Corp. is planning to close 60 stores it deems unprofitable and “several dozen more” later in the year, according to The Dallas Morning News.
The stores to be closed include Zales, Gordon’s and Piercing Pagoda kiosks.
Carter also said that Zale is cutting its capital spending to $85 million this year from the $100 million that was previously planned.
Zale, beset with problems on a number of fronts, reported a 9 percent drop in holiday sales and, in the height of the holiday shopping season, replaced its CEO, Betsy Burton, without explanation. Neal Goldberg took her place and is also serving as president.