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Zale Announces Agreement to Sell Bailey Banks & Biddle.

Publication: Business Wire
Publication Date: 27-SEP-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
DALLAS -- Zale Corporation (NYSE:ZLC), a leading specialty retailer of fine jewelry in North America today announced that it has entered into a definitive agreement to sell its Bailey Banks & Biddle brand to Finlay Fine Jewelry Corporation for a purchase price of $200,000,000, subject to closing adjustments.

"Today's announcement is consistent with our strategy to focus on the core business and increasing returns on capital. It provides an opportunity to return...

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