Zale posts Q3 loss
Dallas Zale Corp. reported a bigger fiscal third-quarter loss due to a drop in same-store sales and a tough economic climate that has diminished demand for jewelry.
Zale posted a loss of $23.2 million compared with $16.8 million last year. Meanwhile, revenue declined 20% to $379.1 million from $476.7 million. Same-store sales dropped 20%.
Selling, general and administrative expenses declined to $209.5 million from $231.7 million.