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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
Current Report
Dated November 20, 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 November 20, 2007, Zale Corporation issued a press release reporting
its financial results for the fiscal quarter ended October 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 first quarter ended October 31, 2006 that excludes
the impact of derivative versus hedge accounting on the Company's gold and
silver contracts. In addition, the attached press release includes a
presentation of earnings and earnings per share excluding a change in revenue
recognized under the lifetime jewelry protection plan. Earnings and earnings per
share excluding the impact of derivative versus hedge accounting and the impact
of the change in revenue recognized under the lifetime jewelry protection plan
are not measures of financial performance under generally accepted accounting
principles (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.
The information set forth 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, as amended, except as shall be expressly set
forth by specific reference in such filing.
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: November 20, 2007 By: /s/ Cynthia T. Gordon
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Cynthia T. Gordon
Senior Vice President, Controller
(principal accounting officer
of the Registrant)
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EXHIBIT INDEX
99.1 Press Release issued November 20, 2007.