Friday, 6th August 2004 (4136 views)

Comparable store sales at Zale Corp increased by 2.1 per cent during the fourth quarter ending July 31, according to the firm's latest results.

Additional figures reveal that total revenues for the fiscal year were $2,304 billion compared to $2.212 billion last year.

Mary L. Fort , president and CEO told Professional Jeweler: "These sales results met our expectations for the fourth quarter and have us well positioned as we enter our new fiscal year.

"During the course of the year, we continued to fine-tune our merchandise assortments, strengthened our clientele development efforts and made operational adjustments to improve our in-stock positions, all of which had a positive impact on our sales performance."

The group has also announced that its board of directors has approved a stock repurchase program whereby Zale can at certain points purchase up to an aggregate of $50 million of Zale common stock on the open market.

 

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