JCK 5: Checking the Balance Sheets

The major publicly traded jewelry retailers reported mostly good quarterly sales and earnings results:1. Zale Corp.’s revenues for the fourth quarter, ended July 31, totaled $377 million, a 9 percent increase from 2010, while its net loss ballooned to $33 million, up from $29 million last year.2. Signet Jewelers’ sales for the second quarter of FY 2012 were $797.6 million, an 11 percent gain. Same-store sales were up 10 percent.3. Tiffany & Co.’s worldwide sales for the second quarter of 2011 were $872.7 million, up 30 percent from the year before. Net earnings were $90 million, a 33 percent jump.4. Blue Nile announced that net sales were up 5.1 percent to $80.5 million, a new second-quarter record. Gross profit totaled $17.2 million, a jump of 6 percent from the prior year.5. Bidz.com saw both sales and profits fall in the second quarter of 2011. Net revenue was $20 million, d

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