Zale quarterly profit down

DALLAS Zale reported a drop in its second quarter earnings for fiscal 2008. The company reported that earnings from continuing operations for the second quarter of fiscal 2008 were $52.7 million, or $1.16 per diluted share, compared to $77.1 million, or $1.57 per diluted share for the second quarter of fiscal 2007.

Zale reported that total revenues for the second quarter were $828 million compared to $892 million last year, a decrease of 7.2%. Comparable-store sales for the second quarter decreased 7.3%

“While these second quarter results are disappointing, I am convinced that Zale has a strong basis for improved performance as we again provide our value-oriented customer with an exceptional experience,” said Neal Goldberg, president and ceo.