Majors

Save E-mail Print Most Popular RSS Reprints

Zale holiday sales down 19.6 percent

January 08, 2009

Similar Stories | Topics

Dallas--Same-store sales at Zale Corp. decreased 19.6 percent for the November-December 2008 period, compared with the same period last year, the company announced on Thursday.

Within this two-month period, November same-store sales dropped 13 percent and December same-store sales dropped 22 percent, compared with their respective periods in 2007.

November sales were boosted by improvement during the Thanksgiving weekend, and December sales improved during the week leading up to Christmas, according to Zale. In addition, the general post-Christmas trend has also been good.

Total revenues for the two-month period dropped 19.5 percent to $582 million, compared with $723 million for the holiday season last year.

"This holiday period was the most difficult in memory due to the overall macroeconomic situation," Zale Corp. Chief Executive Officer Neal Goldberg said in a media release. "While we suffered along with all retailers, we nonetheless believe that a number of the improvements in merchandise and management we have made over the past year helped our performance. We believe that we are in a strong position to benefit from the winnowing of competitors that we have already seen, and we intend to continue driving improvements in product and efficiency."

Goldberg added that Zale is determined to maintain its solid financial position and will take whatever actions necessary to adjust expense levels and inventory spend to sales trends during 2009.

Zale Corp. is a specialty retailer of diamonds and other jewelry products in North America, operating approximately 2,120 retail locations throughout the United States, Canada and Puerto Rico, as well as online. Zale's brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda. Zale also operates online at Zales.com and GordonsJewelers.com.
Save E-mail Print Most Popular RSS Reprints
Post a Comment
* Required field
* Author:
* Comment:
 

Majors

Zale slapped with shareholder class-action suit

A shareholders' class-action lawsuit has been filed against Zale Corp., its chief executive officer and three former executives, claiming the Irving, Texas-based, 1,931-store chain deliberately deceived investors. Read More

JCOC: 11 percent to purchase jewelry this holiday
Penney's 'Doghouse' lives to bark another season
More Majors

More Like This

Zale's jewelry: Price nice, but emotion works better
April 30, 2009 | National Jeweler Network
Zale customers to share their love stories
March 09, 2009 | National Jeweler Network
Sales down 18 percent for Zale
February 25, 2009 | National Jeweler Network
Zale settles lawsuit over 'Love Rocks'
February 18, 2009 | National Jeweler Network
Zale sued over 'Love Rocks' campaign
February 17, 2009 | National Jeweler Network
TOPICS
Culture and Lifestyle | Holidays

Design Portfolio

advertisement

Video

Small multi video player located on right rail of NJN site

advertisement

Sponsored by:

Retailer Toolbar

America's Best Jewelers
Join the ONLY Social Network for Jewelry Retailers. Get access to expert content, peer best practices, and more.
Start networking today.
Newsletters
Newsletters
Topic-specific newsletters that deliver the latest news on jewelry, diamonds, wholesale operations and high-volume buying directly to your in-box.
Reader Connect
ReaderConnect
Supplier information presented with every article, bringing you related, actionable content on every topic.
Jewelry Yellow Pages
Yellow Pages
A comprehensive listing of associations, organizations, suppliers and services for the jewelry industry.
Classifieds
Classifieds
A comprehensive listing of job postings, product offerings and other materials for sale for the jewelry industry.
NJN Customer Connect
CustomerConnect
The most sophisticated suite of marketing services available for jewelry retailers, from Internet tools to data marketing.

advertisement