DALLAS ( TheStreet) -- Zale ( ZLC), the jewelry retailer, said its third-quarter loss narrowed to $12.1 million, or 38 cents a share, from a year-earlier loss of $19.5 million, or 61 cents a share. The adjusted net loss was 76 cents a share, compared with the consensus estimate of a loss of 95 cents a share. The company said it managed to reduce aggregate selling, general and administrative expenses by $16 million during the quarter, compared with the prior year. Also during the quarter, Zale had an income tax benefit of $12 million, compared with a benefit of $17 million a year earlier. Aggregate revenue for the quarter was $360 million, a decrease of 5.1%, but the number beat the consensus estimate of $354.09 million. Same-store sales during the quarter ended decreased 2.2%, compared with a decrease of 20% in the prior year.
-- Reported by Andrea Tse in New York