Earnings sparkle at Zale Corp.
DALLAS — Zale Corp. reported that revenues for its second quarter rose 1.1% to $7 million from $664 million last year.
“The growth achieved in the quarter was driven by our exclusive, branded collections. Further expanding these products and supporting them with compelling marketing and training is an important part of our growth strategy,” commented Theo Killion, CEO.
For the second quarter of fiscal 2013, comparable-store sales increased 2.8%. This increase follows a 5.8% rise in the same period last year.
Net earnings for the quarter were $41 million, or $1.02 per diluted share, compared with net earnings of $29 million, or 77 cents per diluted share, in the second quarter of fiscal 2012.
For the six months ended Jan. 31, 2013, revenues were $1.03 billion, an increase of $13 million compared to the same period last year. Comparable-store sales increased 3.2% in the first half of 2013. Net earnings were $13 million, or 32 cents per diluted share, compared with a net loss of $3 million, or 9 cents per diluted share, in the same period last year.
As previously announced, the company expects to achieve positive net earnings for fiscal year 2013.