Zale’s Former Chairman, CEO Reinstated

Zale Corp., the nation’s largest jewelry retailer, reinstated former Chairman and Chief Executive Robert DiNicola to replace Beryl Raff and said it postponed reporting its fiscal second-quarter earnings from Wednesday until March 7. Zale said Raff, who was named to replace DiNicola in August, resigned to spend more time with her family and on personal interests. Zale and other jewelry retailers warned in December that quarterly profit would fall short of estimates because of weak holiday sales. DiNicola will assume the posts Feb. 21. Zale’s shares fell $2.63 to close at $32.67 on the NYSE.