Mary L. Forte has resigned as president and chief executive officer of Zale Corp., effective immediately.
The company has appointed board member Betsy Burton as interim chief executive officer, pending the selection of a new chief executive officer. Burton has served on the Zale board since 2003.
Burton, 54, has held the position of chief executive officer of various companies, including Supercuts, Inc., PIP Printing and the Cosmetic Center. She has also provided interim management and consulting services in the retail industry. Burton also holds posts on several other public company boards including Staples, Aeropostale and Rent-A-Center.
Zale Corp. is North America's largest specialty jeweler with about 2,400 locations throughout the United States, Canada and Puerto Rico as well as online. The company's brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers, Bailey Banks & Biddle Fine Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda. The company also operates direct sales through www.zales.com and www.baileybanksandbiddle.com
In the all important 4th Quarter sales rose only by 0.9% despite re-doing it's product mix and going more upscale.Pressure from Internet Diamond & Jewelry websites also cut into Zale sales.
Posted by Barry Gutwein on February 1, 2006 6:38 AM in Jewelry Stores Comments (0)
The company has appointed board member Betsy Burton as interim chief executive officer, pending the selection of a new chief executive officer. Burton has served on the Zale board since 2003.
Burton, 54, has held the position of chief executive officer of various companies, including Supercuts, Inc., PIP Printing and the Cosmetic Center. She has also provided interim management and consulting services in the retail industry. Burton also holds posts on several other public company boards including Staples, Aeropostale and Rent-A-Center.
Zale Corp. is North America's largest specialty jeweler with about 2,400 locations throughout the United States, Canada and Puerto Rico as well as online. The company's brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers, Bailey Banks & Biddle Fine Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda. The company also operates direct sales through www.zales.com and www.baileybanksandbiddle.com
In the all important 4th Quarter sales rose only by 0.9% despite re-doing it's product mix and going more upscale.Pressure from Internet Diamond & Jewelry websites also cut into Zale sales.
Posted by Barry Gutwein on February 1, 2006 6:38 AM in Jewelry Stores Comments (0)
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