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Zale Corp. announced late Wednesday that Chief Executive Officer Neal Goldberg and two other executives are no longer with the company.

The change in leadership will help renew Zale’s focus on its core diamond business and help return the company to profitability, the company said in a statement.

Irving-based Zale (NYSE: ZLC) said Goldberg, who also is a board member, will be replaced in the interim by President Theo Killion.

The jewelry retailer added that Mary Kwan, chief merchandising officer, also is gone, as well as William Acevedo, chief stores officer.

Gil Hollander, executive vice president and chief sourcing and supply chain officer, will take on Kwan’s role in addition to his existing duties.

Jewelry retailer Zale Corp. experienced a 12 percent drop in same-store sales — or sales at stores open for 12 months or more — during the two-month period from November to December.

Total store revenues for the period hit $494 million, down from $582 million a year earlier, which is a 15.1 percent drop in revenue. November same-store sales alone dropped 18.6 percent and December same-store sales fell 9.2 percent, the company said.

Zale Corp. has been battling negative news reports since late last year. While the company told the DBJ in late December that it would not reveal its 2010 initiatives until after the New Year, news reports indicated that investment bank Rothschild could be helping Dallas-based Zale Corp. evaluate restructuring plans.

Commenting on the report in late December, a spokesman for Zale Corp. (NYSE: ZLC) told the Dallas Business Journal that the company has not hired a restructuring firm; he said, at the time, Zale will finish the holiday season before determining 2010 initiatives.

Source (bizjournals.com)