Zale Corp.’s Sales Fall in Third Quarter
By JCK Online Staff -- JCK Online, 5/10/2007 9:51:00 AM
Zale Corp., one of North America’s leading jewelry retailers, said Thursday that its sales declined in its third quarter, which ended Apr. 30.
The Dallas-based retailer said total revenues for the third quarter tallied $511.9 million, compared to last year’s revenues for the same period of $526.9 million, a decrease of 2.9 percent.
Year-to-date revenues were flat at $1.95 billion, compared to the same period in the prior year. Same-store sales were down 3.4 percent. For the year-to-date, same-store sales decreased 0.1 percent.
“Our comp store performance was consistent with expectation,” said Betsy Burton, Zale’s chief executive officer. “We remain focused on balancing top line sales with maximizing gross margin dollars.”
Zale Corp. will formally present its third quarter fiscal 2007 earnings results on May 22. The corporation operates approximately 2,300 retail sites in the United States, Canada, and Puerto Rico. Its brands include Zales Jewelers, Zales Outlet, Gordon’s Jewelers, Bailey Banks & Biddle Fine Jewelers, Peoples Jewellers, Mappins Jewellers, and Piercing Pagoda. Through its ZLC Direct organization, it also operates online at www.zales.com, www.baileybanksandbiddle.com and www.gordonsjewelers.com.
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