The company began in 1924 in Wichita Falls, Texas, when the two Russian-Jewish immigrant brothers Morris (M. B.) Zale and William Zale (born Zalefsky), along with Ben Lipshy opened the first Zales Jewelers store[5] (now a division in the multi-division company).
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 1941. Zales Jewelers moved its headquarters from Wichita Falls to Dallas in 1946. In 1998, online shopping was opened at www.zales.com.
Corporate restructuringedit
In 1957, Zales Jewelers opened its 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 1989, Zale acquired Gordon's Jewelers, which had been a major competitor.[6] Zales bought the Skillern Drug pharmacy chain in the 1960s, but sold it in 1980.[7]
In February 2014, Signet Jewelers agreed to buy Zale Corporation, with Zale shareholders receiving USD$21 a share in cash in USD$1.3 billion deal.[11] The merger created a $6.2 billion firm.[11]
In January 2017, Zales announced it would close a handful of its mall stores when the leases expire, to avoid duplication with former rival Kay Jewelers.[12]
In 2018, the company moved its headquarters to a new building in Coppell, Texas.[citation needed]
^Times, Nina Andrews, Special To The New York (1989-05-25). "COMPANY NEWS; Zale to Acquire Gordon Jewelry". The New York Times. ISSN 0362-4331. Retrieved 2015-09-06.{{cite news}}: CS1 maint: multiple names: authors list (link)
^"Zale Corporation - Company Profile, Information, Business Description, History, Background Information on Zale Corporation". www.referenceforbusiness.com.
^"History of Zale Corporation – FundingUniverse". www.fundinguniverse.com.
^"Zale Corporation forced into bankruptcy". The Washington Post. January 1, 1992. Retrieved February 24, 2023.
zale, corporation, zale, zales, redirect, here, other, uses, zale, disambiguation, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, . Zale and Zales redirect here For other uses see Zale disambiguation This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Zale Corporation news newspapers books scholar JSTOR June 2012 Learn how and when to remove this message The Zale Corporation best known as Zales is an American jewelry retailer incorporated in Delaware in 1993 The principal executive offices are located in Coppell Texas 4 Zale CorporationZales location in Sugarloaf Mills Company typeSubsidiaryIndustryRetailingFounded1924 Wichita Falls Texas HeadquartersIrving Texas U S Number of locationsZales and Gordon s 781Zales Outlet 130Peoples and Mappins 206Piercing Pagoda 652 October 2012 1 Key peopleTerry Burman Chairman Terrell Wilson CEO Matthew Appel CAO ProductsJewelryRevenueUS 1 888 billion 2013 2 Operating income 35 12 million 2013 Net income 10 01 million 2013 Total assets 1 187 billion 2013 2 Number of employees12 500 July 2012 3 ParentSignet Jewelers 2014 present DivisionsZalesGordon s JewelersPeoples JewellersMappinsPiercing PagodaWebsitewww wbr zales wbr com A Zales store on the second floor of the Lehigh Valley Mall in Whitehall Township Pennsylvania October 2020 Contents 1 History 2 Corporate restructuring 3 References 4 External linksHistory editThe company began in 1924 in Wichita Falls Texas when the two Russian Jewish immigrant brothers Morris M B Zale and William Zale born Zalefsky along with Ben Lipshy opened the first Zales Jewelers store 5 now a division in the multi division company 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 1941 Zales Jewelers moved its headquarters from Wichita Falls to Dallas in 1946 In 1998 online shopping was opened at www zales com Corporate restructuring editIn 1957 Zales Jewelers opened its 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 1989 Zale acquired Gordon s Jewelers which had been a major competitor 6 Zales bought the Skillern Drug pharmacy chain in the 1960s but sold it in 1980 7 Until 1986 Zales operated a catalog showroom called O G Wilson 8 In 1986 People s Jewelers bought Zales On January 1 1992 Zale filed for Chapter 11 bankruptcy 9 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 amp Biddle brand to Finlay Enterprises 10 In February 2014 Signet Jewelers agreed to buy Zale Corporation with Zale shareholders receiving USD 21 a share in cash in USD 1 3 billion deal 11 The merger created a 6 2 billion firm 11 In January 2017 Zales announced it would close a handful of its mall stores when the leases expire to avoid duplication with former rival Kay Jewelers 12 In 2018 the company moved its headquarters to a new building in Coppell Texas citation needed References edit Zale Corporation 2012 Annual Report a b 1 dead link Zale Corporation Company profile from Hoover s Archived from the original on 2010 02 01 Retrieved 2010 02 04 Contact Zale Corporation Zale Corporation Retrieved on November 17 2012 EXECUTIVE OFFICES 901 W Walnut Hill Lane Irving TX 75038 1003 Harry Hurt III June 1977 Diamonds Aren t Forever Texas Monthly Times Nina Andrews Special To The New York 1989 05 25 COMPANY NEWS Zale to Acquire Gordon Jewelry The New York Times ISSN 0362 4331 Retrieved 2015 09 06 a href Template Cite news html title Template Cite news cite news a CS1 maint multiple names authors list link Zale Corporation Company Profile Information Business Description History Background Information on Zale Corporation www referenceforbusiness com History of Zale Corporation FundingUniverse www fundinguniverse com Zale Corporation forced into bankruptcy The Washington Post January 1 1992 Retrieved February 24 2023 Zale Corporation 2005 Zale Corporation Our History Corporate homepage Retrieved 2006 09 17 a b Karr Arnold J 19 February 2014 Signet to Buy Zale WWD Retrieved 19 February 2014 Barr Barbara 12 January 2017 Lebanon Valley Mall may lease to daycare centers medical offices via www wgal com External links editZales Jewelers ZALE JEWELRY CORPORATION from the Handbook of Texas Online Historical business data for Zale Corporation SEC filings Portal nbsp Companies Retrieved from https en wikipedia org w index php title Zale Corporation amp oldid 1220919404, wikipedia, wiki, book, books, library,
