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Texas jeweller Zale reports USD28.3m loss in Q1  Join our daily free Newsletter

MENAFN - 21/11/2012

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(MENAFN) Texas-based Jewelry retailer Zale Corp. posted a quarterly loss, but said it is on track to turn a profit again, AP reported.

The company said it booked USD28.3 million net loss during its fiscal first quarter ended October 31. Nonetheless, that was an improvement from a year-ago loss of USD31.9 million.

The company also reported a 1.8 percent increase in quarterly revenue to USD357.5 million from a year earlier.

Revenue from same stores increased by 3.9 percent, the company said. The company's People's Jewellers and Mappins Jewellers in Canada reported a 3.9 percent, while at its namesake and Gordon's US jewellery stores reported a 5.5 percent growth. Revenue at its Piercing Pagoda rose 2 percent.

The company had USD908 million in inventory on hand at the end of the quarter, compared to USD857 million a year ago.

 






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