Zale Corp. Holiday Period Comps Up 0.7%

(RTTNews) - Zale Corp. (ZLC), a specialty retailer of diamond and other jewelry products in North America, Friday announced a 0.7 percent rise in comparable sales for the holiday period in the months of November and December. However, the period saw a decline in revenues to $556 million from $567 million last year, mostly reflecting a net decrease of 91 stores and a decrease in the Canadian exchange rate.

At constant exchange rates, comparable store sales grew 2 percent in the combined two-month period.

The company said, "We executed a solid holiday season despite a challenging retail environment. Our holiday performance gives us confidence we can achieve our financial expectations for the fiscal year."

Zales branded stores posted a increase in comparable store sales of 4.4 percent and U.S Fine Jewelry reported a 3.5 percent increase.