Zale Closes 105 Stores

Zale Corp. is closing 105 underperforming stores and eliminating 245 positions. Most of those positions were in its home office; 70 were open. The changes accompanied financial results that showed Zale's fourth quarter same-stores sales down some 18 percent. In a conference call, CEO Neal Goldberg said Christmas sales were hurt by a holiday strategy that stressed "storewide discounts." He says the chain's marketing will now emphasize "emotion" and "item-specific promotions."
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