Zale Same Store Sales Down 18.6% in November

zales.jpgZale’s same store sales dropped 18.6% in November, the company disclosed Friday in its 10-Q filing.

"Historically, the month of November has represented approximately 25 percent of total revenues for the second quarter of our fiscal year," the company added.

The news is being blamed for a dramatic drop in the company’s share price.

An analyst from Soleil downgraded the company’s stock, saying the new results show that the "Company could be headed for serious financial problems."