Zale is about to implement the second stage of its $175 million cost reduction programme in which it will shut its 115 underperforming jewellery stores, lay off 245 employees, improve store efficiencies and reduce jewellery inventory. The closure of the 115 stores in consideration is due to the expiry of their lease. %% In the second quarter of the year, the retailer faced a net loss worth $23.6 million from operations, a 17.9 percent reduction in revenues and 18.1 percent decrease in its comparable store sales. It has its operations currently across around 2,080 stores in the U.S., Puerto Rico, and Canada. It had shut down 70 of its stores last year.