Tuesday, February 23, 2010

Sunday's headlines explained today

Now this is interesting: "Pam Romano, president of the Zale division from 1997 to early 2005, said Monday that she also has discussed a return to Zale with [former CEO Robert] DiNicola. She said several former Zale employees are ready to rejoin the jeweler under an Apollo-led turnaround proposal."

No wonder I was so confused. When Sunday's paper stated, "Leadership, return to diamond basics could save Zale," what they really meant was "Past leadership, return to ex CEOs could save Zale." Got it.

Let's hope that this cash infusion leads to good things, like actual holiday ad campaigns.


Anonymous said...

Question: Did the past executives (DiNicola and Romano specifically) have long running success?

Irene Done said...

I don't know. But after the Apollo news, Zale shares were up like 23%.

And there was this from the WSJ: "Alternatively, Apollo also offered to purchase Zale's Piercing Pagoda, a chain of mall-based kiosks. Piercing Pagoda is viewed as a good strategic fit with the Apollo-owned Claire Stores, where Mr. DiNicola serves as a board member."