President of Zale North America Resigns

In the latest in a series of management shuffles, John Zimmermann, president of Zale North America, which includes the flagship Zale division, recently left as a result of a company streamlining. The news comes as Zale again reported mixed financial results. For fiscal year 2007, revenues were flat at $2.44 billion, while comparable store sales decreased 0.2 percent. Net earnings, however, were $59.3 million, up from last year's $53.6 million. In a conference call with analysts, Zale CEO Betsy Burton said that while sales at the Zale, Gordon's, and Piercing Pagoda divisions declined in the low single digits, sales at Bailey Banks & Biddle, Zale's Internet division, outlet stores, and Canadian division were all up strongly. Zimmermann, who had a solid record as head of Zale's Canadian subsidiary, became head of Zale North America shortly before then interim CEO Burton was appoin
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