Zale Reports Improved Quarter Results as Similar-Store Sales Surged- ZLC, SIRI, LOW, BBY, EXPR
Zale Corporation announced on Wednesday that it has a narrower 3Q loss, tracked by another surged in sales in its US fine jewelry brands segment.
Similar-store sales, surged 8% in the quarter, continuing a trend of increasing business in current quarters.
The US fine jewelry brands unit, which accounts for around 70% of annual revenue and consists of Zales Jewelers, Zales Outlet and Gordon’s Jewelers, reported a 10.9% rose in similar-store sales.
The net loss narrowed by around a half to $4.5 million, or 14 cents a share, in the 3Q ended April 30, from $9 million, or 28 cents a share, a year before.
Let’s have a brief overview of the financial highlights of the stock, Shares of Zale Corporation (NYSE:ZLC) surged 0.14 cent or +6.01% to settle at $2.47 11:28AM EDT. The Beta factor, which measures the risk associated with the security, was 3.18% on Monday.
Zale associated with S&P 500 index with 12,600 employees. ZLC Sales was 8.01 billion with net income of 453.76 billion and offer a dividend of $0.60.
Zale’s stock surged during the trade to the maximum level at $2.65 and during the session traded at the lowest level of $2.41 after opening price of $2.53. ZLC has earning per share of -$1.54 while it has 32.21 million shares outstanding with institutional ownership of 75%.
Moving towards the competitors analysis, Zale Corporation (NYSE:ZLC) belong to services sector and other major market players in the industry are Sirius XM Radio Inc (NASDAQ:SIRI), Lowe’s Companies, Inc. (NYSE:LOW), Best Buy Co., Inc. (NYSE:BBY) and Express, Inc. (NYSE:EXPR).