Zale Q2 Comparable Store Sales Increased 1.4%

U.S. jewelry retailer Zale reported that second quarter comparable store sales increased 1.4 percent. Total revenues for the quarter were $1.019 billion compared to last year's total revenues of $979 million, an increase of 4.1 percent.

Last year's total revenues exclude the results of the Bailey Banks & Biddle stores that were closed during the second fiscal quarter of 2006. Including the store closures, total revenues this year increased 2.5 percent compared to last year's total revenues of $994 million.

Year-to-date total revenues, excluding the store closures, increased 3.9 percent to $1.452 billion. Including the store closures, year-to-date total revenues increased 2.2 percent. Year-to-date comparable store sales, which exclude the store closures, increased 1.1 percent.

The company said it is “comfortable” with the higher end of the earnings per share guidance of $1.85 - $1.90 per share for the second fiscal quarter, excluding the impact of derivative accounting under SFAS 133.