Zale faces net loss

Jewellery retailer Zale has calculated a net loss during the fiscal third quarter ending April 30. The loss was worth $17.4 million. However, the company’s comparable store sales gave respite by showing an increase of 5.8 percent in the said quarter. Although the revenues earned in the quarter valued at $477 million, higher than $449 million earned in the corresponding quarter of last year.

During the nine months of the fiscal, ending April 30, Zale saw a dip in its revenues by 2.4 percent, while its comparable store also declined by 2.3 percent.

In February, Zale adopted the strategy to reduce its inventory levels, permanently, and concentrate on maintaining its deliverables of quality merchandise – to establish its positioning for the future.