Zale Q2 profit better than expected
Dallas -- Zale Corp. on Thursday posted a better than expected second quarter profit as sales rose at its namesake chain and it cut selling and administrative costs. The company restated its forecast that it will return to profit for its current fiscal year, which ends in late July.
Net profit in the quarter ended January 31, 2012, rose to $41.2 million, compared with $28.8 in the year-ago period.
Revenues rose 1.1% to $671 million. Overall same-store sales increased 2.8%, with a 3.6% increase at Zales and Zales Outlets.
Selling, general and administrative were down to 41.6% of sales, from 42.5% a year earlier.