Zale Corporation plans to shut down 115 stores; cut 245 jobs

Zale Corporation Inc., which operates as a specialty retailer of fine jewelry, on Wednesday revealed its plans to shut down 115 underperforming stores and layoff 245 jobs during the year.

The company intends to save about $34 million in expenses through fiscal 2010 by closing about 115 underperforming stores, which will be closed as leases mature.

Online marketplace raises $6.6 million in VC funding round

In a VC funding round, which was led by LFE Capital and included return supporters like The Grosvenor Funds, a 2004-founded online marketplace has managed to raise a handsome amount of $6.6 million. The funds will go towards the accomplishment of Portero’s aim of becoming an eminent player in the online sales of luxury merchandise.

New York Fashion Week Gets A New Home

After 15-years of holding runway shows under a big tent in Bryant Park, New York's Fashion Week will move the event to Lincoln Centre, beginning 2010.

FGX International acquires Dioptics Medical Products

FGX International acquires Dioptics Medical ProductsFGX International has finally acquired