RAPAPORT... Zale expects to rejoin the U.S. broad-market Russell 3000® Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on June 24. Annual reconstitution of Russell’s U.S. indexes captures and ranks the 4,000 largest U.S. stocks as of the end of May, based upon total market capitalization. Shares in Zale have risen more than 200 percent year on year and were trading 12 percent higher today at $5.39 per share. Zale's market capitalization is roughly $174 million.
“We are very pleased to rejoin the Russell 3000 Index representing another significant milestone in our turnaround progress,” commented Matt Appel, Zale's chief financial officer. “Our inclusion in the Russell indexes will continue to raise the awareness of Zale to a wider range of investors allowing us to broaden our shareholder base.”