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    Tuesday, November 24, 2009

    Zale Posts Smaller-than-expected Loss

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    By Andria Cheng
    MarketWatch Pulse
       

      NEW YORK -- Zale Corp. said Tuesday that its fiscal first-quarter loss widened to $57.6 million, or $1.80 a share, from $48.4 million, or $1.52 a share, a year earlier. Revenue in the quarter ended Oct. 31 fell to $329.2 million from $364.1 million. Same-store sales declined 6.8%. Analysts, on average, estimated Zale to lose $1.96 a share on sales of $319.2 million. Gross margin widened to 48.6% from 48.5%. "We are encouraged that both sales and margin strengthened as the quarter progressed," said Chief Executive Neal Goldberg. "We will not offer the same level of broad discounting this holiday season as we did in 2008, which will help us expand our gross margin."

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