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The number is an increase over thejewelry chain's Januaryg announcement that it planned to close 60 unprofitablee stores over three months. The companyu said it expects to saveaboutt $34 million in expenses through fiscal 2010 with the reductiob in the number of Zales and otherf stores it operates, which will be closed as leasexs mature, Zale said. Zale did not release details on which storezs wouldbe closed. There are six Zalea stores in the Pittsburgh in Ross, Monroeville, West Mifflin, Monaca and at South Hills Village. Zale plans to slash $175 milliomn from its budget through cost andinventory reductions, including the eliminatiob of 245 jobs.
Of thosee job cuts, 75 were unfilled according tothe Irving, Tex.-based Zale Corp. (NYSE: ZLC) posted a loss of $23. million for its fiscal second quarter, down from a profity of $60.8 million durinvg the same quarterlast year. The company attributees its loss partly to charges related to goodwilll impairmentsand $5 million in expenses tied to storer impairments. Sales during the quarter hit $679 a 17.9 percent decline from $828 milliom the year-ago period. Neal Goldberg, the company’xs CEO, said Zale's operating results were impactexd negatively by thestruggling economy, as well as a drop in grosxs margin attributed to storewide discounts during the holiday shoppingh season.
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