Zale narrows Q1 loss; sales up
Irving, Texas -- Zale Corp. narrowed its first-quarter loss slightly and reported its 12th consecutive quarterly sales increase.
Zale reported a net loss of $27. 3 million in the quarter ended Oct. 31, compared to $28.3 million, a year ago. The prior year included a gain of $1.9 million from a settlement.
First-quarter sales increased 1.4% to $363 million, in line with expectations.
Same-store sales rose 4.4%. Zales Jewelers and Zales Outlet stores posted a same-store sales increase of 7.5%.
"We have now delivered positive comparable store sales for twelve consecutive quarters. Importantly, our core national brands drove our sales performance in the first quarter with a 7.5% comp in Zales and an 8.4% comp in Peoples," said Theo Killion, CEO. "For holiday, we have expanded our exclusive, branded product offerings, launched a new marketing campaign and improved the store environment to enrich the guest experience."