Monday, 10th January 2005 (4167 views)

America's largest jewellery only retail chain has reported a disappointing Christmas sales result, with a decrease in comparable store sales of 0.7 per cent during the holiday season.

It reported a total revenue increase of 2.1 per cent to $861 million for November and December 2004 from $843 million for the same period in 2003.

"While we are disappointed with our overall holiday sales results, they are not reflective of the performance at most of our brands," Mary L. Forte, Zale Corp. President and Chief Executive Office.

The company says their largest brand, Zales Jewelers, underperformed and "had a significant impact" on their consolidated results.

Their holiday sales figures has seen revised predictions for the quarter ending January 31st with comparable store sales expected to be either flat or down by one per cent.

Zale said in a release that all of their other brands had positive sales results, matching their expectations for the quarter.

 

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