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The number is an increase over thejewelry chain'as that it planned to closre 60 unprofitable stores over threee months. Zale operates 21 storexs in Massachusetts. The company said it expects to saveabout $34 millioh in expenses through fiscal 2010 with the reduction in the number of Zales and stores, which will be closed as leases Zale said. Zale Corp. did not releasw details of which stores would be Zale Corp. plans to slashn $175 million from its budget through cost andinventoryu reductions, including the elimination of 245 jobs. Of those job cuts, 75 were unfilled positions, according to the Dallas-based Zale Corp. (NYSE: ZLC) postedx a loss of $23.
6 million, down from a profitf of $60.8 million during the same quarte rlast year. The company attributes its loss partlu to charges related to goodwill impairmentsand $5 milliom in expenses tied to store Sales during the quarter hit $679 a 17.9 percent decline from $828 million the year-ago Neal Goldberg, the company’s CEO, said Zale'xs operating results were impacted negatively by the struggling economy, as well as a drop in grossz margin attributed to storewide discounts durint the holiday shopping season.
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