Holiday sales down at Zale

Dallas Zale Corp. said Thursday same-store sales fell 18.6% in November and dropped 9.2% in December.

The company said total sales for the period fell 15.1% to $494 million, from $582 million the previous year.

The retailer said that during the holiday period, it limited its price cuts and promotions, which helped its profit margins and buffered the drop in sales.