Zale's proposed sales deal of selling Bailey Banks has finally shaped up. Zale struck a sales deal worth $200 million with Finlay Fine Jewelry and has sold its Bailey Banks and Biddle division to the latter. Bailey Banks and Biddle include 70 stand-alone retail stores across 24 states, delivering high-end jewellery and watches.%%Finlay is hopeful to earn $175 million after taxes and outstanding payables. Also, Zale's board of directors allowed a stock-repurchase worth $200 million of Zale common stock. According to Zale’s CEO Betsy Burton, "The use of proceeds to repurchase stock is a way to return value to shareholders and reflects confidence in the future as we execute our strategic plan."