NEW YORK — With lower sales but expectations of higher earnings, Mayor’s Jewelers Inc. discovered that less really is more in the first quarter.
For the 13 weeks ended June 28, the Sunrise, Fla.-based jewelry retailer reported preliminary sales of $24.5 million. While that represents a 16.9 percent decrease from last year’s sales of $29.5 million, the company achieved those results operating 14 fewer stores in a shorter selling period, or 28 stores over 13 weeks versus 42 stores over 14 weeks in the year-ago quarter.
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