Zale Holiday Season Sales Fall 15%

January 10, 10 by Edon Ophir

Zale's same-store holiday sales fell 12%

Jewelry retail chain Zale Corp. posted a 12 percent drop in same-store sales for the months of November and December, according to a company statement late last week. The two months, generally considered the most profitable time of year for jewelry retailers, brought in a total of $494 million in sales, down 15.1 percent from $582 million last year.

Within this two-month period, November same-store sales declined 18.6 percent compared to November 2008 and December same-store sales declined 9.2 percent.

The company’s latest figures come after several reports on Zale’s financial hardships. On December 24, Bloomberg reported the company has enlisted the help of Rothschild, an investment bank, to evaluate restructuring options. In November, Zale stated it had cancelled some orders with suppliers during the vital holiday season.

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