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                       SECURITIES AND EXCHANGE COMMISSION
 
                             Washington, D.C. 20549
 
                                    FORM 8-K
 
                                 CURRENT REPORT
 
     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
     Date of Report (Date of earliest event reported) September 10, 1997
 
                                ZALE CORPORATION
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             (Exact name of registrant as specified in its charter)
 

           DELAWARE                         0-21526             75-0675400
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 (State or other jurisdiction             (Commission          (IRS Employer
       of incorporation)                 File Number)        Identification No.)

901 W. Walnut Hill Lane Irving, Texas                           75038-1003
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(Address of principal executive offices)                        (Zip Code)
 
Registrant's telephone number, including area code            (972) 580-4000
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                                Not Applicable
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         (Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
 
     On September 10, 1997, Zale Corporation (the "Company") announced that it
will offer $100 million of Senior Notes due 2007 to qualified institutional
buyers pursuant to Rule 144A and Regulation S under the Securities Act of 1933.
The press release issued by the Company on September 10, 1997 is attached hereto
as Exhibit 99.1 and is hereby incorporated by reference into this Report.
 
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
 
     (c) Exhibits.
 

             
         99.1   Press Release issued by the Company on September 10, 1997.

 
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                                   SIGNATURES
 
     Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
 
                                            ZALE CORPORATION
                                            Registrant
 
                                            By:      /s/ MARK R. LENZ
 
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                                                         Mark R. Lenz
                                                Vice President and Controller
                                                (principal accounting officer
                                                      of the registrant)
 
Date: September 12, 1997
 
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                                 EXHIBIT INDEX
 


        EXHIBIT
        NUMBER                              DESCRIPTION
        -------                             -----------
              
         99.1    Press Release issued by the Company on September 10, 1997.