Zale Corporation (NYSE: ZLC) today reported its financial results for the second quarter ended January 31, 2013.
“The growth achieved in the quarter was driven by our exclusive, branded collections. Further expanding these products and supporting them with compelling marketing and training is an important part of our growth strategy,” commented Theo Killion, Chief Executive Officer.
Second Quarter Fiscal 2013 Results
Revenues were $671 million, an increase of $7 million, or 1.1 percent, compared to $664 million in the second quarter of fiscal 2012.For the second quarter of fiscal 2013, comparable store sales increased 2.8 percent. This increase follows a 5.8 percent rise in the same period last year. At constant exchange rates, comparable store sales increased 2.2 percent.
- Zales branded stores, consisting of Zales Jewelers and Zales Outlet, posted a comparable store sales increase of 3.6 percent, compared to an increase of 10.1 percent in the same period last year. U.S. Fine Jewelry brands including our regional brand, Gordon’s Jewelers, posted a comparable store sales increase of 2.8 percent. This increase follows an 8.9 percent rise in the same period last year.
- Canadian Fine Jewelry brands, consisting of Peoples Jewellers and Mappins Jewellers, posted a comparable store sales increase of 3.8 percent. This increase follows a 0.7 percent rise in the same period last year. At constant exchange rates, comparable store sales increased 0.5 percent in the second quarter of fiscal 2013, following an increase of 2.3 percent in the same period last year.
- Piercing Pagoda, our Kiosk Jewelry business, posted a comparable store sales increase of 1.0 percent. In the same period last year, comparable store sales declined 3.0 percent.
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