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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):  May 6, 2004
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                                ZALE CORPORATION
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             (Exact name of registrant as specified in its charter)


Delaware                          001-04129                  75-0675400
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(State or other                   (Commission                (IRS Employer
jurisdiction of                   File Number)               Identification No.)
incorporation)


901 West Walnut Hill Lane, Irving, Texas                     75038-1003
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(Address of principle 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 12. Results of Operations and Financial Condition

         On May 6, 2004, Zale Corporation issued a press release reporting its
sales results for the third quarter ended April 30, 2004. A copy of the press
release is being furnished as Exhibit 99.1 and is incorporated herein by
reference.

         The information set forth under this Item 12 and in Exhibit 99.1 is
being furnished and shall not be deemed "filed" for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933, except
as shall be expressly set forth by specific reference in such filing.



                                  EXHIBIT INDEX
                                  -------------

99.1              Press Release of Zale Corporation issued May 6, 2004.



                                   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
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               Registrant


Date:    May 6, 2004                      By: /s/ Cynthia T. Gordon
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                                                   Cynthia T. Gordon
                                                   Senior Vice President,
                                                   Controller
                                                   (principle accounting officer
                                                   of the registrant)




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