Wednesday, January 12, 2011

Zale Shares Jump On Strong Holiday Sales

Zale Corporation (NYSE: ZLC) soared more than 30% on Wednesday, a day after the company announced that comparable store sales increased 8.5% for the combined months of November and December 2010, encompassing the entire holiday selling period. Within this two-month period, November same store sales increased 11.5% and December same store sales increased 7.4%. At constant exchange rates, which excludes the effect of translating Canadian currency denominated sales into U.S. dollars, comparable store sales increased 7.6% for the holiday selling period. Total revenues for the two-month period were $533.1 million compared to $493.7 million last year, an increase of 8.0%.

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