Zale Corporation today announced their revenues decreased 9.6% to $329 million in the third quarter compared to $364 million in 2008. The company experienced a net loss of $57.6 million compared to a net loss of $48.4 million in the prior period.
Zale’s gross margin on sales was 48.6% during the quarter ended compared to 48.5% in the prior year. Same store sales during the quarter decreased 6.8%, compared to a decrease of 3.7% during the 2008 period. The company has closed a total of 209 retail locations since October 31st, 2008.
Signet Jewelers Ltd. announced a net income loss of $7 million, lower than the loss of $15.1 million in 2008.
Signet also reported a total sales decrease of 2.5 percent to $613.7 million during the third quarter. U.S. same store sales dropped 2.4 percent and U.S. total sales fell 1.7 percent to $459.3 million.