Zale Posts $28 Million Profit in Q2, Sales Up 7.6%
February 23, 11
The North American retailer closed the quarter with a $28 million profit compared to earnings of $7 million in the comparable quarter last year. The company achieved gross margin on sales of 50.3 percent, compared to 49.8 percent in the comparable quarter last year. “Our financial performance for the critical second quarter reflects the collaborative efforts of our total organization focusing on one objective - delivering a successful Holiday," CEO Theo Killion commented on the results. "In doing so, we've taken an important step towards our goal of returning to profitability." "This quarter marked a turning point for the Company as we returned to positive same store sales," commented Executive Vice President and Chief Financial Officer Matt Appel.
