Zale Corp Q2 earnings rises, makes executive management change
17 Feb '06
3 min read
The company also announced that effective immediately, John Zimmermann will assume the newly created position of President, Zale North America. Zimmermann, formerly President of Zale Canada, will have responsibility for merchandising and store operations of Zales Jewelers, Peoples Jewellers and Mappins Jewellers. Paul Leonard, former President of Zales Jewelers, has resigned.
Betsy Burton, Interim Chief Executive Officer said, "Our earnings performance did not reach our expectations for the second quarter due primarily to a sales shortfall at Zales Jewelers."
"Upon review of Zales' business, we concluded that the new strategy negatively impacted our brand positioning because it deemphasized the value component and key diamond categories of the brand's assortment," he added.
Ms Burton commented further, "John has 25 years of retail experience, the last five with Zale Corporation, and has consistently improved performance at our Canadian brands. We look forward to leveraging John's talents in addressing the challenges at the Zales brand."
The company further noted that it expects flat to slightly positive comparable store sales and diluted earnings per share to range between $0.20 and $0.22 for the third fiscal quarter.
Zale Corporation is North America's largest specialty retailer of fine jewelry operating approximately 2,350 retail locations throughout the UnitedStates, Canada and Puerto Rico, as well as online. Zale Corporation's brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers, Bailey Banks & Biddle, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda.
20240830145952.gif)
20240925092649.png)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
