Zale Corp Revenues Rise 3% In Last Quarter
March 10, 04
Zale Corp on Wednesday reported an increase of 4.5 percent in total revenues for the three months ended January 31 compared with the same quarter last year to $949 million.
Comparable store sales rose 4.3 percent in the quarter from a year earlier.
Total revenues for the six months ended January 31 were $1.4 billion, an increase of 3.4 percent over total revenues of $1.3 billion for the same period last year. Comparable store sales increased 3.4 percent in the six-month period.
Zale attributed the increase in comparable store sales to customers’ response to its merchandising and marketing initiatives.
Merchandising was driven by expanded offerings of charms and body jewelry at Piercing Pagoda, the strength of the diamond and watch categories at Bailey Banks & Biddle Fine Jewelers, and diamond fashion assortments in the moderate brands. The marketing strategy included increased media impressions and the introduction of new branding campaigns.
During the quarter, Zale opened 14 new stores and closed eight. In addition, it opened seven kiosks and closed 23 kiosks during the current period.