Zale Corp. posted a higher second quarter profit even though revenues slipped in the period.
For the three months ended Jan. 31, net income rose 23.2 percent to $50.8 million, or $1.13 a diluted share, from $41.2 million, or $1.02, a year ago. Revenues in the quarter slid 2.1 percent to $656.4 million from $670.8 million, while comparable-store sales rose 0.6 percent.
The company said the decrease in revenues was due to 86 fewer stores in the quarter compared with the year-ago period, and in part to the decline in the Canadian exchange rate.
Alberta Ferretti's "Rainbow Week" sweaters are back. The designer closed her #MFW show with a few day-of-the-week sweaters, which first debuted on the catwalk last January as part of the pre-fall 2017 collection. #wwdfashion (📷: @delphineachard)