Zale Corp. to close 60 stores

DALLAS Zale Corp. is closing 60 stores over the next 90 days.

According to reports, Zale Corp. plans to shutter 60 unprofitable Zales, Gordon's and Piercing Pagoda locations, with more planned for later this year.  

The company reported a comparable-store sales decrease of 9% for combined months of November and December 2007, encompassing the entire holiday selling period. Total revenues for the two-month period were $723 million compared to $804 million last year, a decrease of 10.1%.