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Zale Corporation Reports First Quarter Fiscal 2014 Results

Stocks in this article: ZLC

Zale Corporation (NYSE: ZLC) today reported its financial results for the first quarter ended October 31, 2013.

“We have now delivered positive comparable store sales for twelve consecutive quarters. Importantly, our core national brands drove our sales performance in the first quarter with a 7.5 percent comp in Zales and an 8.4 percent comp in Peoples,” commented Theo Killion, Chief Executive Officer. “For Holiday, we have expanded our exclusive, branded product offerings, launched a new marketing campaign and improved the store environment to enrich the guest experience.”

First Quarter Fiscal 2014 Results

Revenues were $363 million, an increase of $5 million, or 1.4 percent, compared to $357 million in the first quarter of fiscal 2013.

For the first quarter of fiscal 2014, comparable store sales increased 4.4 percent. This increase follows a 3.9 percent rise in the same period last year. At constant exchange rates, comparable store sales increased 5.4 percent, following a 3.7 percent increase in the same period last year.

  • Zales branded stores, consisting of Zales Jewelers and Zales Outlet, posted a comparable store sales increase of 7.5 percent. This follows a 4.8 percent rise in the same period last year.
  • U.S. Fine Jewelry brands, consisting of Zales Jewelers, Zales Outlet and Gordon’s Jewelers, posted a comparable store sales increase of 6.3 percent. This increase follows a 3.9 percent rise in the same period last year.
  • Peoples branded stores posted a comparable store sales increase of 3.1 percent. This increase follows an 8.9 percent rise in the same period last year. At constant exchange rates, comparable store sales increased 8.4 percent, following a 7.3 percent increase in the same period last year.
  • Canadian Fine Jewelry brands, consisting of Peoples Jewellers and Mappins Jewellers, posted a comparable store sales increase of 2.0 percent. This increase follows a 5.5 percent rise in the same period last year. At constant exchange rates, comparable store sales increased 7.3 percent in the first quarter of fiscal 2014, following an increase of 4.0 percent in the same period last year.
  • Piercing Pagoda posted a comparable store sales decrease of 1.8 percent. In the same period last year, comparable store sales increased 2.0 percent.

All comparable store sales include the associated ecommerce businesses.

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