Zale Narrows Loss in Q4, Reports Profit for Full Year

For the quarter that ended on July 31, Zale reported a loss of $8 million compared with a loss of $19.7 million a year before.

CEO Theo Killion said Zale posted its highest annual net income in six years at $10 million from a loss of $27 million last year – the first since the financial crisis of 2008.

Revenue climbed 2.5 percent to $417.1 million. For the full year, Total sales increased slightly to $1.89 billion from $1.87 billion

Same-store sales, a critical indicator for the retail sector, continued to rise sharply – up 5.6 percent in the fourth quarter – but slower than the 8.3 percent increase a year earlier.

Zale Corp, which runs Zales Jewelers, Gordon's Jewelers and other jewelry outlets, has for the most part seen increased revenue in recent quarters as its efforts to increase prices, enhance its basic core stock, and bring out new branded products helped rise same-store sales.