JCK 5: Retailers & Companies Reveal Mid-2012 Financial Reports



Leading retailers and companies delivered an uneven group of financial results in August:

1. Zale Corp.’s net loss totaled $20 million in the fourth quarter, down from a net loss of $33 million during the same period last year. Same-store sales rose 6.9 percent.

2. J.C. Penney announced another downbeat quarter, with comp sales for the second quarter down 21.7 percent and the company recording a $147 million net loss.

3. Signet reported strong results for the second quarter of fiscal 2013, with same-store sales rising 7.1 percent and operating income up 8.4 percent.

4. Tiffany & Co.’s worldwide net sales totaled $877 million in the second quarter—a 2 percent increase over the same period in 2011. The company also cut its profit outlook for the year.

5. Movado Group’s net sales totaled $118 million in the second quarter, a 4.2 percent increase from a year ago. Profits jumped 78 percent to $81 million.