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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
Current Report
Dated August 30, 2007
of
ZALE CORPORATION
A Delaware Corporation
IRS Employer Identification No. 75-0675400
SEC File Number 001-04129
901 West Walnut Hill Lane
Irving, Texas 75038
(972) 580-4000
[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Securities Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Securities Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Securities Act (17 CFR 240.13e-2(c))
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Item 2.02. Results of Operations and Financial Condition
On August 30, 2007, the Company issued a press release reporting its
financial results for the fourth fiscal quarter and full year ended July 31,
2007. A copy of the press release is being furnished as Exhibit 99.1 and is
incorporated herein by reference.
The attached press release includes a presentation of earnings and
earnings per share for the fourth quarter ended July 31, 2007, excluding a
change in revenue recognized for the lifetime jewelry protection plan, a benefit
for the net impact of derivative versus hedge accounting on its gold and silver
contracts, and a benefit from the decision to indefinitely reinvest certain
undistributed foreign earnings in accordance with APB 23, (together, the "fourth
quarter charges"). In addition, the attached press release includes earnings and
earnings per share for the twelve months ended July 31, 2007, that exclude the
fourth quarter charges. Earnings and earnings per share excluding such items are
not measures of financial performance under GAAP and should not be considered as
alternatives to earnings and earnings per share as computed under GAAP for the
applicable period.
Management will use earnings and earnings per share measures adjusted
to exclude certain items as part of its evaluation of the performance of the
Company. Further, the Company believes the adjusted earnings and earnings per
share measures provide useful information to investors because the items
excluded relate to events that had a significant impact during the quarter and
will recur with unpredictable frequency and significance in the future.
The information set forth under 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, as amended, except as
shall be expressly set forth by specific reference in such filing.
EXHIBIT INDEX
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99.1 Press Release of Zale Corporation issued August 30, 2007.
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: August 30, 2007 By: /s/ Cynthia T. Gordon
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Cynthia T. Gordon
Senior Vice President,
Controller
(principal accounting officer
of the Registrant)