-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, SrrmXVmNUfwpI13ZGslPILhmuOUlBUusbJArq4kYIzwhay+5y5CAKTMtlWeDLc8T j+b0RKcCZx6SDj/ktEy10g== 0000903423-11-000020.txt : 20110121 0000903423-11-000020.hdr.sgml : 20110121 20110121154216 ACCESSION NUMBER: 0000903423-11-000020 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20110121 DATE AS OF CHANGE: 20110121 GROUP MEMBERS: BREEDEN CAPITAL PARTNERS LLC GROUP MEMBERS: BREEDEN PARTNERS (CALIFORNIA) II L.P. GROUP MEMBERS: BREEDEN PARTNERS (CALIFORNIA) L.P. GROUP MEMBERS: BREEDEN PARTNERS (CAYMAN) LTD. GROUP MEMBERS: BREEDEN PARTNERS (NEW YORK) I L.P. GROUP MEMBERS: BREEDEN PARTNERS HOLDCO LTD. GROUP MEMBERS: BREEDEN PARTNERS L.P. GROUP MEMBERS: RICHARD C. BREEDEN SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ZALE CORP CENTRAL INDEX KEY: 0000109156 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-JEWELRY STORES [5944] IRS NUMBER: 750675400 STATE OF INCORPORATION: DE FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-30781 FILM NUMBER: 11541399 BUSINESS ADDRESS: STREET 1: 901 W WALNUT HILL LN STREET 2: MS 6B-3 CITY: IRVING STATE: TX ZIP: 75038 BUSINESS PHONE: 9725804000 MAIL ADDRESS: STREET 1: 901 WEST WALNUT HILL LANE STREET 2: MAIL STOP 6B-3 CITY: IRVING STATE: TX ZIP: 75038-1003 FORMER COMPANY: FORMER CONFORMED NAME: ZALE JEWELRY CO INC DATE OF NAME CHANGE: 19710510 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Breeden Capital Management LLC CENTRAL INDEX KEY: 0001376259 IRS NUMBER: 113765220 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 100 NORTHFIELD STREET CITY: GREENWICH STATE: CT ZIP: 06830 BUSINESS PHONE: 203-618-0065 MAIL ADDRESS: STREET 1: 100 NORTHFIELD STREET CITY: GREENWICH STATE: CT ZIP: 06830 SC 13D/A 1 breeden-zales13da8_0121.htm Unassociated Document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
 
SCHEDULE 13D
 
Under the Securities Exchange Act of 1934
(Amendment No. 8)*
 
Zale Corporation
(Name of Issuer)
 
Common Stock, $0.01 par value
 (Title of Class of Securities)
 
988858106
 (CUSIP Number)
 
Nandita Hogan
Breeden Capital Management LLC
100 Northfield Street
Greenwich, Connecticut 06830
(203) 618-0065

  (Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
 
January 19, 2011
 (Date of Event which Requires Filing of this Statement)
 
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-l(e), 240.13d-l(f) or 240.13d-1(g), check the following box.  o
 
Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits.  See §240.13d-7 for other parties to whom copies are to be sent.
 
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
 
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes)
 
 
 
 
 
 
 
 
CUSIP No.  988858106
 
 
1.
Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
 
Breeden Capital Management LLC
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)        o
(b)        x
 
3.
SEC Use Only
  4. Source of Funds (See Instructions) AF
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
  6. Citizenship or Place of Organization     Delaware
Number of
Shares Beneficially
Owned by Each
Reporting 
Person With
7. Sole Voting Power     0
8. Shared Voting Power     8,731,354
9. Sole Dispositive Power     0
10. Shared Dispositive Power     8,731,354
  11. Aggregate Amount Beneficially Owned by Each Reporting Person     8,731,354
  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
  13. Percent of Class Represented by Amount in Row (11)     27.18%
  14. Type of Reporting Person (See Instructions)
OO
 
 
 
Page 2 of 14
 
 
CUSIP No.  988858106
 
 
1.
Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
 
Breeden Partners (California) L.P.
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)        o
(b)        x
 
3.
SEC Use Only
  4. Source of Funds (See Instructions) AF
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
  6. Citizenship or Place of Organization     Delaware
Number of
Shares Beneficially
Owned by Each
Reporting 
Person With
7. Sole Voting Power     0
8. Shared Voting Power     4,882,668
9. Sole Dispositive Power     0
10. Shared Dispositive Power     4,882,668
  11. Aggregate Amount Beneficially Owned by Each Reporting Person     4,882,668
  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
  13. Percent of Class Represented by Amount in Row (11)     15.20%
  14. Type of Reporting Person (See Instructions)
PN
 
 
Page 3 of 14
 
 
CUSIP No.  988858106
 
 
1.
Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
 
Breeden Partners L.P.
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)        o
(b)        x
 
3.
SEC Use Only
  4. Source of Funds (See Instructions) AF
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
  6. Citizenship or Place of Organization     Delaware
Number of
Shares Beneficially
Owned by Each
Reporting 
Person With
7. Sole Voting Power     0
8. Shared Voting Power     1,233,658
9. Sole Dispositive Power     0
10. Shared Dispositive Power     1,233,658
  11. Aggregate Amount Beneficially Owned by Each Reporting Person     1,233,658
  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
  13. Percent of Class Represented by Amount in Row (11)     3.84%
  14. Type of Reporting Person (See Instructions)
PN
 
 
Page 4 of 14
 
 
CUSIP No.  988858106
 
 
1.
Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
 
Breeden Partners (California) II L.P.
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)        o
(b)        x
 
3.
SEC Use Only
  4. Source of Funds (See Instructions) AF
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
  6. Citizenship or Place of Organization     Delaware
Number of
Shares Beneficially
Owned by Each
Reporting 
Person With
7. Sole Voting Power     0
8. Shared Voting Power     743,657
9. Sole Dispositive Power     0
10. Shared Dispositive Power     743,657
  11. Aggregate Amount Beneficially Owned by Each Reporting Person     743,657
  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
  13. Percent of Class Represented by Amount in Row (11)     2.31%
  14. Type of Reporting Person (See Instructions)
PN
 
 
Page 5 of 14
 
 
CUSIP No.  988858106
 
 
1.
Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
 
Breeden Partners (New York) I L.P.
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)        o
(b)        x
 
3.
SEC Use Only
  4. Source of Funds (See Instructions) AF
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
  6. Citizenship or Place of Organization     Delaware
Number of
Shares Beneficially
Owned by Each
Reporting 
Person With
7. Sole Voting Power     0
8. Shared Voting Power     256,343
9. Sole Dispositive Power     0
10. Shared Dispositive Power     256,343
  11. Aggregate Amount Beneficially Owned by Each Reporting Person     256,343
  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
  13. Percent of Class Represented by Amount in Row (11)     0.8%
  14. Type of Reporting Person (See Instructions)
PN
 
 
Page 6 of 14
 
 
CUSIP No.  988858106
 
 
1.
Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
 
Breeden Partners Holdco Ltd.
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)        o
(b)        x
 
3.
SEC Use Only
  4. Source of Funds (See Instructions) AF
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
  6. Citizenship or Place of Organization     Cayman Islands
Number of
Shares Beneficially
Owned by Each
Reporting 
Person With
7. Sole Voting Power     0
8. Shared Voting Power     1,615,028
9. Sole Dispositive Power     0
10. Shared Dispositive Power     1,615,028
  11. Aggregate Amount Beneficially Owned by Each Reporting Person     1,615,028
  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
  13. Percent of Class Represented by Amount in Row (11)     5.03%
  14. Type of Reporting Person (See Instructions)
OO
 
 
Page 7 of 14
 
 
CUSIP No.  988858106
 
 
1.
Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
 
Breeden Partners (Cayman) Ltd.
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)        o
(b)        x
 
3.
SEC Use Only
  4. Source of Funds (See Instructions) AF
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
  6. Citizenship or Place of Organization     Cayman Islands
Number of
Shares Beneficially
Owned by Each
Reporting 
Person With
7. Sole Voting Power     0
8. Shared Voting Power     1,615,028
9. Sole Dispositive Power     0
10. Shared Dispositive Power     1,615,028
  11. Aggregate Amount Beneficially Owned by Each Reporting Person     1,615,028
  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
  13. Percent of Class Represented by Amount in Row (11)     5.03%
  14. Type of Reporting Person (See Instructions)
OO
 
 
Page 8 of 14
 

CUSIP No.  988858106
 
 
1.
Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
 
Breeden Capital Partners LLC
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)        o
(b)        x
 
3.
SEC Use Only
  4. Source of Funds (See Instructions) AF
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
  6. Citizenship or Place of Organization     Delaware
Number of
Shares Beneficially
Owned by Each
Reporting 
Person With
7. Sole Voting Power     0
8. Shared Voting Power     7,116,326
9. Sole Dispositive Power     0
10. Shared Dispositive Power     7,116,326
  11. Aggregate Amount Beneficially Owned by Each Reporting Person    7,116,326
  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
  13. Percent of Class Represented by Amount in Row (11)     22.15%
  14. Type of Reporting Person (See Instructions)
OO
 
 
Page 9 of 14
 
 
CUSIP No.  988858106
 
 
1.
Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
 
Richard C. Breeden
 
2.
Check the Appropriate Box if a Member of a Group (See Instructions)
(a)        o
(b)        x
 
3.
SEC Use Only
  4. Source of Funds (See Instructions) AF
  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
  6. Citizenship or Place of Organization     United States
Number of
Shares Beneficially
Owned by Each
Reporting 
Person With
7. Sole Voting Power     12,482
8. Shared Voting Power     8,731,354
9. Sole Dispositive Power     12,482
10. Shared Dispositive Power     8,731,354
  11. Aggregate Amount Beneficially Owned by Each Reporting Person    8,743,836
  12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)
  13. Percent of Class Represented by Amount in Row (11)     27.22%
  14. Type of Reporting Person (See Instructions)
IN
 
 
Page 10 of 14
 
 
This Amendment No. 8 (this “Amendment amends and supplements the Schedule 13D filed with the Securities and Exchange Commission on September 17, 2007, as previously amended, (the “Schedule 13D”), relating to the common stock, par value $0.01 per share (“Common Stock”), of Zale Corporation, a Delaware corporation (the “Company”). Terms defined in the Schedule 13D are used herein with the same meaning.

Items 5 and 7 of the Schedule 13D are hereby amended and restated.


ITEM 5.   INTEREST IN SECURITIES OF THE ISSUER.

(a)-(b)    The responses of the Reporting Persons to Rows (7) through (13) on the cover pages of this Statement on Schedule 13D are incorporated herein by reference.  In addition, Mr. James M. Cotter, Senior Managing Director and founding member of Breeden Capital owns 10,942 shares of Common Stock and 1,540 options to acquire Common Stock, as a direct owner representing, when converted, approximately .04% of the outstanding shares of Common Stock.  Mr. Cotter, disclaims beneficial ownership of such shares of Common Stock for all other purposes.  Pursuant to the Fund’s governing documents, any economic benefit with respect to shares of Common Stock and options held by Mr. Cotter, who received such shares and options as compensation for his former service as a director on the board of directors of the Company, is transferred to the Fund.  All percentages set forth in this paragraph relating to beneficial ownership of Common Stock are based upon 32,123,875 shares outstanding, which is the total number of shares outstanding as of November 30, 2010 as reported in the Company’s Form 10-Q for the quarter ended October 31, 2010.

(c)           Except as set forth above or in the attached Schedule I, no Reporting Person has effected any transaction in shares of Common Stock during the 60 days preceding the date hereof.

(d)           Not applicable.

(e)           Not applicable.

ITEM 7.   MATERIALS TO BE FILED AS EXHIBITS.

EXHIBIT 1.
Agreement as to Joint Filing of Schedule 13D, dated January 21, 2011 by and among the Delaware Fund, the California Fund, the California II Fund, the New York Fund, Holdco, BPC, the General Partner, the Advisor and Mr. Breeden.

 
 
 
 
 
 
 
 
 
Page 11 of 14
 
 

SIGNATURES
 
After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Dated:  January 21, 2011




 



    BREEDEN PARTNERS L.P.
 
By:  Breeden Capital Partners LLC,
        General Partner

By:   /s/  Richard C. Breeden                                
           Richard C. Breeden
           Managing Member


BREEDEN PARTNERS (CALIFORNIA) L.P.

By:  Breeden Capital Partners LLC,
        General Partner

By:   /s/  Richard C. Breeden                                
   Richard C. Breeden
           Managing Member

BREEDEN PARTNERS (CALIFORNIA) II L.P.

By:  Breeden Capital Partners LLC,
        General Partner

By:   /s/  Richard C. Breeden                                
    Richard C. Breeden
            Managing Member

BREEDEN PARTNERS (NEW YORK) I L.P.

By:  Breeden Capital Partners LLC,
        General Partner

By:   /s/  Richard C. Breeden                                
    Richard C. Breeden
            Managing Member


BREEDEN PARTNERS HOLDCO LTD.

By:   /s/  Richard C. Breeden                                
          Richard C. Breeden
          Key Principal

 
Page 12 of 14
 

BREEDEN CAPITAL PARTNERS LLC

By:   /s/  Richard C. Breeden                                
   Richard C. Breeden
           Managing Member


BREEDEN CAPITAL MANAGEMENT LLC

By:   /s/  Richard C. Breeden                                
   Richard C. Breeden
           Managing Member


BREEDEN PARTNERS (CAYMAN) LTD.

By:   /s/  Richard C. Breeden                                
          Richard C. Breeden
          Key Principal


 /s/  Richard C. Breeden                                        
Richard C. Breeden
 

 
 
Page 13 of 14
 

Schedule I

TRANSACTIONS DURING THE PAST 60 DAYS BY THE REPORTING PERSONS

The following table sets forth all transactions with respect to shares of Common Stock effected during the past 60 days by any of the Reporting Persons.  All such transactions were effected in the open market.

Transaction
Date
Shares Sold for the Account of the Delaware Fund
Shares Sold for the Account of the California Fund
Shares Sold for the Account of the California II Fund
Shares Sold for the Account of the New York Fund
Shares Sold for the Account of Holdco
Price per Share
1/14/2011
257,093    
     
2,438    
5.5310(1)
1/19/2011
42,154    
     
400    
5.0019
1/20/2011
37,049    
     
351    
4.9857
             

(1)  
The sale transactions reported here include sales prices ranging from $5.5253 to $5.5503.  The reporting persons will provide upon request by the Securities Exchange Commission staff, the issuer or a security holder of the issuer, full information regarding the number of shares sold at each separate price

 
 
 
 
 
 
 
 
 
 
 
Page 14 of 14
EX-1 2 breeden-sc13da8ex1_0121.htm Unassociated Document
 

Exhibit 1
Agreement of Joint Filing
 
Pursuant to 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, the undersigned persons hereby agree to file with the Securities and Exchange Commission the Statement on Schedule 13D (the “Statement”) to which this Agreement is attached as an exhibit, and agree that such Statement, as so filed, is filed on behalf of each of them.
 
IN WITNESS WHEREOF, the undersigned have executed this Agreement.
 
Dated: January 21, 2011


BREEDEN PARTNERS L.P.

By:  Breeden Capital Partners LLC,
        General Partner

By:  /s/  Richard C. Breeden                                
   Richard C. Breeden
           Managing Member


BREEDEN PARTNERS (CALIFORNIA) L.P.

By:  Breeden Capital Partners LLC,
        General Partner

By:  /s/  Richard C. Breeden                                
           Richard C. Breeden
           Managing Member

BREEDEN PARTNERS (CALIFORNIA) II L.P.

By:  Breeden Capital Partners LLC,
        General Partner

By:  /s/  Richard C. Breeden                                
           Richard C. Breeden
           Managing Member

BREEDEN PARTNERS (NEW YORK) I L.P.

By:  Breeden Capital Partners LLC,
        General Partner

By:  /s/  Richard C. Breeden                                
           Richard C. Breeden
           Managing Member


BREEDEN PARTNERS HOLDCO LTD.

By:  /s/  Richard C. Breeden                                
          Richard C. Breeden
          Key Principal


BREEDEN CAPITAL PARTNERS LLC

By:  /s/  Richard C. Breeden                                
           Richard C. Breeden
           Managing Member


 
 
 
 
 
BREEDEN CAPITAL MANAGEMENT LLC

By:  /s/  Richard C. Breeden                                
           Richard C. Breeden
           Managing Member


BREEDEN PARTNERS (CAYMAN) LTD.

By:  /s/  Richard C. Breeden                                
          Richard C. Breeden
          Key Principal


 /s/ Richard C. Breeden                                        
Richard C. Breeden
 -----END PRIVACY-ENHANCED MESSAGE-----