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February 22, 2008
Jewelery Retailer Zale Sees 31% Drop In Q2 Earnings
Zale Corp.’s second quarter earnings dropped 31% to $60.8 million after a challenging holiday season. The U.S. jeweler said same-store sales fell 7.3% and overall sales declined 5.4% to $1.21 billion.
Excess inventory is part of the problem, according to the company. Zale said it wants to reduce its excess inventory by $100 million to free up cash flow.
Posted by Blacks on February 22, 2008 10:18 AM
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