8-K

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                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                ----------------

                                    FORM 8-K

                                 Current Report

                             Dated November 8, 2007

                                       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




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

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

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

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




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Item 2.02         Results of Operations and Financial Condition.

         On November 8, 2007, Zale Corporation issued a press release reporting
its sales results for the fiscal quarter ended October 31, 2007. A copy of the
press release is being furnished as Exhibit 99.1 and is incorporated herein by
reference.

         The information set forth 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:    November 8, 2007                      By: /s/ Cynthia T. Gordon
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                                               Cynthia T. Gordon
                                               Senior Vice President, Controller
                                               (principal accounting officer
                                               of the Registrant)



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                                  EXHIBIT INDEX

99.1     Press Release issued November 8, 2007.

EX-99.1

                                                                    EXHIBIT 99.1

                  Zale Announces First Quarter Sales
                               Results


    DALLAS--(BUSINESS WIRE)--Nov. 8, 2007--Zale Corporation
(NYSE:ZLC), a leading specialty retailer of fine jewelry in North
America, today reported that for the first quarter ended October 31,
2007, comparable store sales decreased 0.4%. Revenues for the first
quarter were $378 million compared to last year's revenues of $382
million, a decrease of 1.2%. These amounts exclude revenues from the
Bailey Banks & Biddle stores. As previously announced, the Company
entered into a definitive agreement to sell Bailey Banks & Biddle to
Finlay Fine Jewelry Corporation and expects to complete the
transaction in the near future. Including Bailey Banks & Biddle,
comparable store sales decreased 0.3% and revenues for the first
quarter were $428 million compared to last year's revenues of $432
million, a decrease of 1.0%.

    Cash from warranty sales, which exclude Bailey Banks & Biddle,
increased $9.5 million over the first quarter last year and revenues
recognized were $6.1 million less than the prior year as a result of
the change made in the jewelry protection plan offering during the
second quarter of fiscal 2007 from a two-year to a lifetime agreement.
The increase in unrecognized revenues on the balance sheet was $14.3
million in the first quarter. This increase reflects the incremental
cash collected and the future positive impact to earnings as a result
of the jewelry protection plan change.

    The Company indicated it is comfortable at the more favorable end
of its previously issued earnings per share guidance of ($0.59) to
($0.63) for the first quarter.

    Chief Executive Officer Betsy Burton commented, "We continue to
execute our strategy of maximizing gross margin dollars and
maintaining good expense control in the current challenging macro
environment. This is demonstrated by the fact that even with
relatively flat sales this quarter, we expect to achieve our earnings
objectives."

    Zale Corporation will announce its first quarter 2008 earnings
results on November 20, 2007. A conference call will be held at 9:00
a.m. EST. 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 a leading specialty retailer of fine jewelry
in North America operating over 2,250 retail locations throughout the
United States, Canada and Puerto Rico, as well as online. Zale
Corporation's brands include Zales Jewelers, Zales 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,
www.baileybanksandbiddle.com and www.gordonsjewelers.com. Additional
information on Zale Corporation and its brands is available at
www.zalecorp.com.

    This release contains forward-looking statements, including
statements regarding the Company's sales earnings for the first
quarter of fiscal year 2008 and the Company's goals and strategies.
Forward-looking statements are not guarantees of future performance
and a variety of factors could cause the Company's actual results to
differ materially from the results expressed in the forward-looking
statements. These factors include, but are not limited to: we have not
completed closing our books (and the closing process could impact some
of the estimates we are relying upon); if the general economy performs
poorly, discretionary spending on goods that are, or are perceived to
be, "luxuries" may not grow and may even decrease; the concentration
of a substantial portion of the Company's sales in three, relatively
brief selling seasons means that the Company's performance is more
susceptible to disruptions; personnel costs are a substantial portion
of our expense structure and are difficult to control in the
short-term; most of the Company's sales are of products that include
diamonds, precious metals and other commodities, and fluctuations in
the availability and pricing of commodities could impact the Company's
ability to obtain and produce products at favorable prices; the
Company's sales are dependent upon mall traffic; the Company operates
in a highly competitive industry; changes in regulatory requirements
or in the Company's private label credit card arrangement with
Citibank U.S.A., N.A. may increase the cost of or adversely affect the
Company's operations and its ability to provide consumer credit and
write credit insurance; acquisitions involve special risks, including
the possibility that the Company may not be able to integrate
acquisitions into its existing operations. For other factors, see the
Company's filings with the Securities and Exchange Commission,
including its Annual Report on Form 10-K for the fiscal year ended
July 31, 2007. The Company disclaims any obligation to update or
revise publicly or otherwise any forward-looking statements to reflect
subsequent events, new information or future circumstances.


    CONTACT: Zale Corporation
             David H. Sternblitz
             Vice President and Treasurer
             972-580-5047