Zale Corp (ZLC) Comps Down 12% for November and December 2009
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Zale Corporation (NYSE: ZLC) reported today that comparable store sales decreased 12.0% for the combined months of November and December 2009, encompassing the entire holiday selling period. Total revenues for the two-month period were $494 million compared to $582 million last year, a decrease of 15.1%.
Within this two-month period, November same store sales declined 18.6% and December same store sales declined 9.2%. During the holiday selling period, the Company maintained pricing and promotional discipline which favorably impacted gross margin performance and appreciably mitigated the impact of reduced sales on aggregate margin dollars.
Within this two-month period, November same store sales declined 18.6% and December same store sales declined 9.2%. During the holiday selling period, the Company maintained pricing and promotional discipline which favorably impacted gross margin performance and appreciably mitigated the impact of reduced sales on aggregate margin dollars.
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