Zale to continue streamlining operations

NEW YORK, Sept 6 (Reuters) - U.S. jewelry company Zale Corp (ZLC.N) will stay focused on its mall-based business, grow its outlet and Canada store base and continue to streamline its operations to improve its business, its chief executive said on Thursday.

But the company will also examine each of its stores and close the ones that are not yielding an adequate return on capital, CEO Betsy Burton said during a Goldman Sachs conference.

The company would consider divesting some brands to focus on its core business, though nothing is imminent, Burton said.

Like many other retailers, Dallas-based Zale is gearing up for the crucial holiday season.

While Zale itself has not been hit by the recent credit turmoil, Burton said its core customer is still clearly affected by high gasoline prices and a slack housing market.