Zale Sales Down 14% in 2Q

Zale Corporation announced Wednesday that for the second fiscal quarter ended January 31st aggregate revenues were $582 million, a decrease of 14.3 percent compared to $679 million in 2009.

The company posted net earnings of $6.7 million compared to a net loss of $31.8 million in 2009. Zale recorded a net loss in the first half of $53 million, compared to a $80.2 million last year.

Same store sales during the second fiscal quarter decreased 11.2 percent, compared to a decrease of 18.1 percent during the 2009 period. The Company has closed a total of 187 retail locations since January 31st, 2009, of which 28 were closed in the quarter ended January 31, 2010.

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