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Zale narrows Q1 loss; sales up
Irving, Texas -- Zale Corp. narrowed its first-quarter loss slightly and reported its 12th consecutive quarterly sales increase.
Zale reported a net loss of $27. 3 million in the quarter ended Oct. 31, compared to $28.3 million, a year ago. The prior year included a gain of $1.9 million from a settlement.
First-quarter sales increased 1.4% to $363 million, in line with expectations.
Same-store sales rose 4.4%. Zales Jewelers and Zales Outlet stores posted a same-store sales increase of 7.5%.
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Fitch Ratings expects modest improvements in retail sales growth in 2014
New York -- Fitch Ratings expects total U.S. retail sales growth in the 4% range in 2014, a modest increase over expected 2013 figures that reflects slight improvement in both the employment rate and real wages.
Fitch expects 2013 holiday sales to grow in the 3%-4% range, in line with The National Retail Federation forecasts that November and December sales will increase 3.9% year over year to $602 billion.