8-K

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

________________

FORM 8-K

Current Report

Dated February 3, 2005

of

ZALE CORPORATION

A Delaware Corporation

IRS Employer Identification No. 75-0675400

SEC File Number 001-04129

901 West Walnut Hill Lane

Irving, Texas 75038

(972) 580-4000

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Securities Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) 12 under the Securities Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) 12 under the Securities Act (17 CFR 240.13e-2(c))

Item 2.02. Results of Operations and Financial Condition

On February 3, 2005, Zale Corporation issued a press release reporting its sales results for the second fiscal quarter ended January 31, 2005. A copy of the press release is being furnished as Exhibit 99.1 and is incorporated herein by reference.

The information set forth under this Item 2.02 and in Exhibit 99.1 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.

	ZALE CORPORATION Registrant
Date: February 3, 2005	By:	/s/ Cynthia T. Gordon
		Cynthia T. Gordon
		Senior Vice President, Controller (principle accounting officer of the Registrant)

EXHIBIT INDEX

99.1  Press Release of Zale Corporation issued February 3, 2005.

EX-99.1

 CONTACT:    
David H. Sternblitz
Vice President and Treasurer
(972) 580-5047

ZALE CORPORATION ANNOUNCES SECOND QUARTER SALES RESULTS

      DALLAS, Texas, February 3, 2005 - Zale Corporation (NYSE: ZLC), North America’s largest specialty retailer of fine jewelry, today reported that for the second quarter ended January 31, 2005, comparable store sales decreased 0.6%. Total revenues for the period were $972 million compared to last year’s second quarter revenues of $949 million, an increase of 2.4%.

For the fiscal year-to-date, total revenues increased 2.1% to $1.395 billion, compared to $1.366 billion for the same period last year. On a year-to-date basis, comparable store sales decreased 0.7%.

Zale Corporation will announce its second quarter fiscal 2005 earnings results on February 18, 2005. A conference call will be held at 9:00 a.m. Eastern Time. Parties interested in participating should dial 706-643-7467 five minutes prior to the scheduled start time. A webcast of the call, as well as a replay, will be available on the Company’s Web site at www.zalecorp.com. For additional information, contact Investor Relations.

Zale Corporation is North America’s largest specialty retailer of fine jewelry operating approximately 2,350 retail locations throughout the United States, Canada and Puerto Rico, as well as online. Zale Corporation’s brands include Zales Jewelers, Zales Fine Jewelry Outlet, Gordon’s Jewelers, Bailey Banks & Biddle Fine Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda. Through its ZLC Direct organization, Zale also operates online at www.zales.com and www.baileybanksandbiddle.com. Additional information on Zale Corporation and its brands is available at www.zalecorp.com.

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