Zale Corporation (NYSE: ZLC) today reported its financial results for the second quarter ended January 31, 2014.
Second Quarter Fiscal 2014 Results
Revenues were $656 million compared to $671 million in the second quarter of fiscal 2013. The decrease in revenues is primarily due to the net decrease of 86 stores compared to last year and a decline in the Canadian exchange rate, partially offset by the 1.9 percent constant currency comparable store sales growth.
For the second quarter of fiscal 2014, comparable store sales increased 1.9 percent at constant exchange rates, or 0.6 percent on a U.S. dollar reported basis. This increase follows a 2.2 percent rise at constant exchange rates, or a 2.8 percent rise on a U.S. dollar reported basis, in the same period last year.
Comparable Store Sales Detail
|Q2 Fiscal 2014||Q2 Fiscal 2013|
|U.S. Fine Jewelry||3.1||%||3.1||%||2.8||%||2.8||%|
|Canadian Fine Jewelry||(5.6||%)||1.3||%||3.8||%||0.5||%|
|Total Fine Jewelry||1.3||%||2.7||%||3.0||%||2.3||%|
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