NEW YORK — Shares of Zale Corp. advanced to a new 52-week high of $46.47 in intraday trading Tuesday after the Dallas-based jewelry specialty retailer said it plans to repurchase up to 6.4 million, or 20 percent, of its outstanding shares through a modified Dutch auction tender offer.

In addition, Zale said, in connection with the offer, it plans to enter into a new $500 million secured revolving credit facility.

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