Zale retains financial advisory firm

DALLAS Zale Corp. announced that it has hired Peter J. Solomon Co., a leading independent investment banking advisory firm to the retail industry, to advise the company in identifying and analyzing alternatives to maximize its financial flexibility.

The announcement follows the recent departure of top Zale executive, as well as the company's news that sales for the combined November to December holiday period fell 15.1% to $494 million, from $582 million the previous year.