Zale’s Holiday Comps Up, Revenues Flat

Zale Corp. announced its comp sales increased 2.3 percent for the holiday period, which it defines as November and December.

This increase follows a 5.9 percent rise in comp sales last year.

Revenues for the two-month period were $567 million, compared to $564 million last year. The company credited the $3 million increase in revenue to the comp-store growth, but also noted it now has 50 fewer stores.

“This holiday season, we focused on driving bottom line improvement,” said Theo Killion, chief executive officer, in a statement. “Our comp performance, combined with an expected 100 basis point operating margin improvement, brings us closer to our goal of achieving positive net income for fiscal year [2013].”

Other highlights of Zale’s holiday sales statement:

  • Zales branded stores, consisting of Zales Jewelers and Zales Outlet, posted a 3.1 percent comp increase, compared to a 10 percent increase in the same period last year. U.S. fine jewelry brands, including Gordon’s, posted a 9 percent comp sales increase.
  • Canadian fine jewelry brands, including Peoples Jewellers and Mappins Jewellers, posted a comp-store sales increase of 2.7 percent. This increase follows a 0.2 percent rise in the same period last year. At constant exchange rates, Canadian brands posted a same-store sales decline of 0.7 percent, compared to an increase of 1.7 percent in the prior year period.
  • Piercing Pagoda posted a same-store sales increase of 1.7 percent. In the same period last year, comparable store sales declined 2.1 percent.
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