The adjusted net loss was 76 cents a share, compared with the consensus estimate of a loss of 95 cents a share.
The company said it managed to reduce aggregate selling, general and administrative expenses by $16 million during the quarter, compared with the prior year. Also during the quarter, Zale had an income tax benefit of $12 million, compared with a benefit of $17 million a year earlier.
Aggregate revenue for the quarter was $360 million, a decrease of 5.1%, but the number beat the consensus estimate of $354.09 million. Same-store sales during the quarter ended decreased 2.2%, compared with a decrease of 20% in the prior year.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV