Latest News

Save E-mail Print Most Popular RSS Reprints

Zale 3Q same-store sales up 5.8 percent

May 08, 2008

Similar Stories | Topics

Dallas—Same-store sales at Zale Corp. increased 5.8 percent for the third quarter ended April 30, and revenues for the period increased 6.3 percent to $477 million, compared with $449 million for the same period last year, the company announced today.

These amounts, both current and comparable, exclude revenues from the Bailey Banks and Biddle stores, which Zale sold to Finlay Fine Jewelry Corp. on Nov. 9, 2007.

Year-to-date same-store sales decreased 2.3 percent, and year-to-date revenues decreased 2.4 percent to $1.68 billion, compared with $1.72 billion for the same period last year.

Unrecognized revenues related to warranty sales increased $17 million for the third quarter and $64 million year-to-date. These increases reflect the incremental cash collected and the future positive impact to earnings as a result of the change to the company's lifetime jewelry-protection plans.

"We have a focused agenda to improve execution, and these sales results reflect the early success of our plan," Zale Corp. President and Chief Executive Officer Neal Goldberg said in a media release issued on Thursday. "Sales were fueled primarily by an aggressive clearance strategy that exceeded our expectations with $55 million of inventory liquidated in the third quarter. This clearance strategy is critical for us to achieve our goal of becoming clearer in our product offering and more effective in differentiating the good, better, best value proposition."

Goldberg also noted that going forward, the company will remain aggressive with its promotional activity as it works toward permanently reducing inventory by $100-plus million.

Zale is a specialty retailer of fine jewelry in North America operating approximately 2,200 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.

For additional information on Zale Corp., visit its Web site, Zalecorp.com.
Save E-mail Print Most Popular RSS Reprints
Post a Comment
* Required field
* Author:
* Comment:
 

More Brand Profiles

Movado Lincoln Center Watch
Movado watch fetes 50 years of pirouettes, solos

A night out at the New York City Ballet or Jazz at Lincoln Center is bound to be memorable, but Movado hopes to help make it more so with a new version of its iconic "Museum" watch.  Read More

Raymond Weil forms U.S. distribution company
More News

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
Clothing Accessories | Corporate Reporting | Culture and Lifestyle | Earnings and Loss Announcements | Earnings and Losses | Fashion and Style | Jewelry

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