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TheStreet Open House

Zale Returns To Full Year Profitability

Zale Corporation (NYSE: ZLC) today reported its financial results for the fourth quarter and full year ended July 31, 2013.

“We are pleased to report another solid quarter with a 5.6 percent comp and significant improvement to margins. Importantly, for the year we achieved a significant milestone by delivering our highest net income in six years,” commented Chief Executive Officer Theo Killion. “We intend to build on this momentum as we focus on driving profitable top-line growth and long-term shareholder value.”

Fourth Quarter Fiscal 2013 Results

Revenues were $417 million compared to $407 million in the fourth quarter of fiscal 2012. For the fourth quarter of fiscal 2013, comparable store sales increased 5.6 percent. This increase follows an 8.3 percent rise in the same period last year. At constant exchange rates, comparable store sales increased 5.8 percent.

  • Zales branded stores, consisting of Zales Jewelers and Zales Outlet, posted a comparable store sales increase of 8.1 percent. This increase follows a 12.3 percent rise in the same period last year.
  • U.S. Fine Jewelry brands, including our Zales branded stores and our regional brand, Gordon’s Jewelers, posted a comparable store sales increase of 7.2 percent. This increase follows an 11.2 percent rise in the same period last year.
  • Peoples branded stores posted a comparable store sales increase of 5.6 percent. This increase follows a 4.7 percent rise in the same period last year. At constant exchange rates, comparable store sales increased 7.0 percent in the fourth quarter of fiscal 2013, following an increase of 9.9 percent in the same period last year.
  • Canadian Fine Jewelry brands, consisting of Peoples Jewellers and Mappins Jewellers, posted a comparable store sales increase of 3.3 percent. This increase follows a 2.0 percent rise in the same period last year. At constant exchange rates, comparable store sales increased 4.7 percent in the fourth quarter of fiscal 2013, following an increase of 7.1 percent in the same period last year.
  • Piercing Pagoda, our Kiosk Jewelry business, posted a comparable store sales increase of 0.3 percent. In the same period last year, comparable store sales rose 2.7 percent.

All comparable store sales include associated ecommerce businesses.

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