Zale Selling Piercing Pagoda?



Zale Corp. is exploring the sale of its Piercing Pagoda division, according to a Dec. 23 report in Bloomberg, citing sources close to the deliberations. The news service listed Apollo Global Management as a ­possible buyer. Apollo had submitted a bid to take control of Zale last year. In December, Piercing Pagoda was singled out by Zale CEO Theo Killion as “businesses that performed well for us this year.” Zale purchased Piercing Pagoda, which currently comprises 680 kiosks, in August 2000. Zale spokeswoman Roxanne Barry says the company “doesn’t comment on rumors.”