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 .”
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.