Headlines

Zale Hires Retail Advisor

Looks to address financial woes as sales decline continues

Published

14 years ago

February 10, 2010

VMSD Staff

Zale Corp. (Irving, Texas) has hired New York-based Peter J. Solomon Co., an independent investment banking advisory firm to the retail industry, to help identify areas to strengthen the jeweler’s financial position. Zale reported first quarter sales for fiscal 2010 were down 10 percent to $329.2 million.

Last month, Zale’s board fired ceo Neal Goldberg following a disappointing Christmas season, with sales declining 15 percent to $494 million through November and December. Goldberg is the sixth ceo to leave the company in 10 years.

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