|This article needs additional citations for verification. (June 2012)|
|Traded as||NYSE: ZLC|
|Founded||1924 (Wichita Falls, Texas)|
|Number of locations||Zales and Gordon’s: 781
Zales Outlet: 130
Peoples and Mappins: 206
Piercing Pagoda: 652
|Key people||Terry Burman (Chairman)
Theo Killion (CEO)
Matthew Appel (CAO)
|Revenue||US$1.9 billion (July 2012) |
|Total assets||$1.171 billion(July 2012) |
|Employees||12,500 (July 2012)|
|Parent||Signet Jewelers Ltd.|
The company began in 1924 in Wichita Falls, Texas, when Morris (M. B.) Zale, William Zale, and Ben Lipshy opened the first Zales Jewelers store. As a marketing strategy, the Zale brothers instituted a credit plan whereby customers could pay "a penny down and a dollar a week," making jewelry and other merchandise affordable for the average working American. The success of this credit policy led to the company expanding to a total of 12 stores in Oklahoma and Texas by 1942.
Zales Jewelers moved its headquarters from Wichita Falls to Dallas, TX in 1946.
In 1957, Zales Jewelers broadened its reach, opening the first store in a shopping center—a major shift from operating only in downtown locations. The same year, Zales announced the initial public offering of its stock (ZLC) and began trading its public shares on the American Stock Exchange in 1958.
In 1998, online shopping was launched at www.zales.com.
In 1999 and 2000, Zale expanded with two major acquisitions: Peoples Jewellers of Canada and Piercing Pagoda.
In 2007, the Company divested its Bailey Banks and Biddle brand to Finlay.
In February 2014, Signet Jewelers Ltd. agreed to buy Zale Corporation, with Zale shareholders receiving USD$21 a share in cash in USD$1.4 billion deal. This merger will create a $6.2 billion firm.
- Zale Corporation 2012 Annual Report
- "Contact Zale Corporation." Zale Corporation. Retrieved on November 17, 2012. "EXECUTIVE OFFICES 901 W. Walnut Hill Lane Irving, TX 75038-1003"
- Zale Corporation (2005). "Zale Corporation: Our History". Corporate homepage. Retrieved 2006-09-17.
- Karr, Arnold J. (19 February 2014). "Signet to Buy Zale". WWD. Retrieved 19 February 2014.