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UNITED STATES 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) March 31, 2000
ZALE CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-04129 75-0675400
(State or other jurisdiction of (Commission File Number) (IRS Employer
incorporation) Identification No.)
901 W Walnut Hill Lane Irving, Texas 75038-1003
(Address of principal executive offices) (Zip Code)
Registrant's Telephone number, including area code: (972) 580-4000
Not Applicable
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS.
On March 31, 2000, Zale Corporation (the "Company") announced that
it has entered into a five-year unsecured working capital facility with an
initial commitment of $225 million which may be increased to $300 million
under certain conditions.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS
(c) EXHIBITS.
99 Press Release issued by the Company on March 31, 2000.
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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
Date: March 31, 2000 By: /s/ Mark R. Lenz
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Mark R. Lenz
Senior Vice President, Controller
(principal accounting officer of the
registrant)
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EXHIBIT INDEX
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EXHIBIT
NUMBER DESCRIPTION
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99 Press Release issued by the Company on March 31, 2000.
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EXHIBIT 99
CONTACT: Investor:
Cynthia T. Gordon
Senior Director, Investor Relations
(972) 580-5047
Media:
Mary Forte'
Executive Vice President and
Chief Administrative Officer
(972) 580-4810
ZALE CORPORATION ANNOUNCES COMPLETION OF
A FIVE-YEAR UNSECURED CREDIT FACILITY
DALLAS, Texas, March 31, 2000 - Zale Corporation (NYSE: ZLC), North
America's largest specialty retailer of fine jewelry, today announced the
Company has entered into a five-year unsecured working capital facility with
an initial commitment of $225 million which may be increased to $300 million
under certain conditions. Fleet National Bank leads a group of nine banks in
replacing an existing $225 million unsecured working capital facility.
"This agreement provides our Company with additional financial
flexibility as we continue to expand our business," said Executive Vice
President and Chief Financial Officer Sue Gove. "The continued support of
our existing banking partners and the addition of three new banks is evidence
of the Company's consistent financial performance over the past six years."
Zale Corporation operates approximately 1,350 specialty retail
jewelry stores located throughout the United States, Canada, Puerto Rico, and
online, including Zales Jewelers, Zales Outlet, Zale.com, Gordon's Jewelers,
Bailey Banks & Biddle Fine Jewelers and Peoples Jewellers. Additional
information on Zale Corporation and its operations is available on the
Internet at www.zalecorp.com.
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THIS RELEASE INCLUDES CERTAIN FORWARD-LOOKING INFORMATION INCLUDING
INFORMATION RELATED TO ZALE CORPORATION'S GROWTH EXPECTATIONS AND FUTURE
GROWTH INITIATIVES THAT IS BASED UPON MANAGEMENT'S BELIEFS AS WELL AS ON
ASSUMPTIONS MADE BY AND DATA CURRENTLY AVAILABLE TO MANAGEMENT. THIS
INFORMATION, WHICH HAS BEEN, OR IN THE FUTURE MAY BE, INCLUDED IN RELIANCE ON
THE "SAFE HARBOR" PROVISIONS ON THE PRIVATE SECURITIES LITIGATION REFORM ACT
OF 1995, IS SUBJECT TO A NUMBER OF RISKS AND UNCERTAINTIES, INCLUDING BUT NOT
LIMITED TO THE FOLLOWING FACTORS: THE DEVELOPMENT OF TRENDS IN THE GENERAL
ECONOMY; COMPETITION IN THE FRAGMENTED RETAIL JEWELRY BUSINESS; THE
DEPENDENCE ON KEY PERSONNEL WHO HAVE BEEN HIRED OR RETAINED BY THE COMPANY;
THE CHANGES IN REGULATORY REQUIREMENTS WHICH ARE APPLICABLE TO THE COMPANY'S
BUSINESS; MANAGEMENT'S DECISIONS TO PURSUE NEW DISTRIBUTION CHANNELS AND
STRATEGIES WHICH MAY INVOLVE ADDITIONAL COSTS; AND THE RISK FACTORS LISTED
HEREIN AND FROM TIME TO TIME IN THE COMPANY'S SECURITIES AND EXCHANGE
COMMISSION REPORTS, INCLUDING BUT NOT LIMITED TO, ITS ANNUAL REPORTS ON FORM
10-K. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE ANTICIPATED IN SUCH
FORWARD-LOOKING STATEMENTS. THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE
OR REVISE ANY FORWARD-LOOKING STATEMENTS TO REFLECT SUBSEQUENT EVENTS OR
CIRCUMSTANCES EVEN IF EXPERIENCE OR FUTURE CHANGES MAKE IT CLEAR THAT ANY
PROJECTED RESULTS EXPRESSED OR IMPLIED THEREIN MAY NOT BE REALIZED.
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