Zale Again Delays Earnings Report, This Time until Further Notice

Zale Corporation announced Tuesday night that it is postponing its earnings release and for Wednesday morning. It has originally scheduled to release its fiscal 2009 financial results on September 2, but announced that it is delaying it by a week to September 9.

The North American specialty jeweler said it is delaying the release “in order to finalize a review of accounting for prepaid advertising costs that surfaced during the Company’s year-end closing process.”

Last week the company announced that while it was finalizing the report “certain non-cash adjustments were identified impacting prior period results aggregating approximately $13.0 million pre-tax, of which approximately $6.3 million relates to years prior to fiscal 2000. The Company is in the process of finalizing the appropriate accounting treatment for those adjustments.”

Zale did not provide a date for releasing the financial figures.