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Zale Corporation Reports Second Quarter Fiscal 2014 Results

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
Brand U.S. Dollar    

At ConstantExchangeRates

U.S. Dollar    

At ConstantExchangeRates

Zales/Zales Outlet 3.9 % 3.9 % 3.6 % 3.6 %
Gordon's (4.5 %) (4.5 %) (3.3 %) (3.3 %)
U.S. Fine Jewelry 3.1 % 3.1 % 2.8 % 2.8 %
Peoples (4.3 %) 2.7 % 6.4 % 3.0 %
Mappins (11.4 %) (4.9 %) (5.6 %) (8.6 %)
Canadian Fine Jewelry (5.6 %) 1.3 % 3.8 % 0.5 %
Total Fine Jewelry 1.3 % 2.7 % 3.0 % 2.3 %
Piercing Pagoda (4.6 %)     (4.6 %)     1.0 %     1.0 %
Total Company 0.6 % 1.9 % 2.8 % 2.2 %
 

All comparable store sales include the associated ecommerce businesses.

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