Zale Corporation is a specialty retailer of fine jewelry. As of July 31, 2009, the Company operated 1,247 specialty retail jewelry stores and 684 kiosks located in shopping malls throughout the United States, Canada and Puerto Rico. It operates in three segments: Fine Jewelry, Kiosk Jewelry and All Other. During the fiscal year ended July 31, 2009 (fiscal 2009), the Fine Jewelry segment generated approximately 86% of the Company’s net revenues, while the Kiosk Jewelry segment revenues represented 13% of total revenues. During fiscal 2009, the Company closed a 191 underperforming locations, of which 160 were fine jewelry stores and 31 were kiosks.