Zale Corp sales in Jan increase

Zale Corp. has so far announced its sales figures for the second quarter ending January 31, 2008. Its earnings dipped by 7.3% in the quarter for comparable store sales, or sales at locations open at least a year, excluding the sale of Bailey Banks & Biddle which was negotiated in the same quarter in November 2007. The revenue figures also slid by 7.3% resulting in $827 million as compared to last year’s second quarter earning of $892 million.

Considering a broader time frame like year-to-date, Zale’s total revenues again showed a decrease of 5.5% and the year-to-date comparable store sales declined by 5.1%. Despite this, Zale says that its earnings per share from continuing operations will be as before within the range of $1.08 to $1.13.

Zale experienced a slight increase in its sales during January as comparable store sales increased by 5.7%, and with a promotional event for Valentine's Day customer appreciation which added 3 percentage points to sales.