Jewelry retailer Zale's Q1 same store sales drop 1.2%
05 Nov '05
3 min read
Based on the sales performance, the impact of the hurricanes, the impairment and markdown charges, the Company expects a net loss for the first quarter ended October 31, 2005, ranging between $0.46 and $0.49 per share. This range includes the estimated $0.03 per share expense associated with adopting SFAS No. 123R, which requires the expensing of stock compensation programs.
Additionally, this range includes the impact of the Company's purchase of approximately 1,638,000 shares of its common stock for an aggregate of $45 million during the quarter pursuant to its stock repurchase program.
Zale Corporation will announce its first quarter fiscal 2006 earnings results on November 16, 2005. A conference call will be held at 9:00 a.m. EST.
Zale Corporation is North America's largest specialty retailer of fine jewelry operating approximately 2,345 retail locations throughout the United States, Canada and Puerto Rico, as well as online.
Zale Corporation's brands include Zales Jewelers, Zales Outlet, Gordon's Jewelers, Bailey Banks & Biddle Fine Jewelers, Peoples Jewellers, Mappins Jewellers and Piercing Pagoda.
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