Quarterly losses declined at Signet Jewelers Ltd. but grew at Zale Corp. as the specialty jewelry retailers sought to weather the downturn by cutting costs, lowering inventories and improving margins.
Bermuda-based Signet, which operates as Kay Jewelers and Jared the Galleria of Jewelry in the U.S. and H. Samuel, Ernest Jones and Leslie Davis in the U.K., said Tuesday losses in its third quarter narrowed by more than half to $10.5 million, or 8 cents a diluted share. A year ago, it reported a loss of $23.6 million, or 18 cents a share.
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