Giant U.S. jewelry retailer Zale Corp plans to close 25 stores in fiscal year 2012, senior company executives said at a conference call following the announcement of its fourth quarter financial results.
The company has also made changes to the products it is offering for sale in order to ensure predictable margins.
The closures will include 20 fine jewelry stores and five kiosks, Zale said. In the past quarter, Zale closed 10 fine jewelry stores and seven kiosks, they said in comments reported by JCK Online.
CEO Theo Killion told the conference call that Zale Corp has returned 80 percent of its assortment of products back to “core” items.
“What that means is that 80 percent [of our assortment] is a collection of merchandise that has predictable margins, has great returns, and that we've made room for by getting rid of—over the last year and a half—of unproductive inventory,” he said.