QUARTER SALES ARE INCREASED AT FINLAY, ZALE
NEW YORK — The two major fine jewelry retailers, Zale Corp. and Finlay Enterprises, reported sales growth for their most recent quarters.
Zale Corp. said same-store sales rose 6.6 percent and total sales increased 11.7 percent to $505.1 million from $452 million in the second quarter ended Jan. 31.
Robert J. DiNicola, chairman and chief executive officer, noted in a statement that “in spite of a difficult retail environment overall” the company “achieved solid comparable-store sales increases for the all- important holiday quarter.”
DiNicola added that during 1996, the company added 14 new stores and hopes to continue this rate of store growth in 1997.
Zale operates about 1,250 jewelry stores and leased departments throughout the U.S., Guam and Puerto Rico, including Zales Jewelers, Gordon’s Jewelers and Bailey Banks & Biddle.
Finlay Enterprises said consolidated fourth-quarter sales grew 2.7 percent to $281.7 million from $274.3 million a year earlier
For the three months ended Feb. 1, consolidated same-store sales rose 5.2 percent and domestic same-store sales rose 5.7 percent.
For the year, consolidated sales increased 4.8 percent to $685.7 million from $654.5 million.
Consolidated same-store sales gained 5.9 percent while domestic same-store sales were up 6 percent.
Finlay operates 939 leased jewelry departments in department stores throughout the U.S., France, U.K. and Germany through its wholly owned subsidiary, Finlay Fine Jewelry Corp.