January 9, 2006
Zale Holiday Sales Up Slightly
Zale Corp., the nation's largest specialty retailer of fine jewelry, reported comparable-store sales for the combined months of November and December 2005 increased 0.9%. Total revenues for the two-month period were $861 million compared to $844 million for the same period in 2004 an increase of 2%. These figures exclude the results of the 29 Bailey Banks & Biddle stores designated to be closed that were managed by an independent liquidator during the period.
November comparable-store sales decreased approximately 6% while December comparable-store sales increased more than 3%. Zale Corp. operates Gordon's Jewelers, Bailey Banks & Biddle, Zales Outlet and Zale Canada (Peoples Jewellers and Mappins Jewellers), Zales Jewelers and Piercing Pagoda.
"Although we are disappointed that we did not achieve our overall holiday sales objective, we are very pleased with the strong performances we had at four of the company's six brands," said Mary L. Forté, president and CEO. "The underperformance at our Zales brand and at Piercing Pagoda had a significant impact on our consolidated results."
Zale Corp. operates approximately 2,400 retail locations throughout the U.S., Canada and Puerto Rico, as well as online. Zale Corp. also operates online at www.zales.com and www.baileybanksandbiddle.com.