ZALE’S NET RISES 10.7% IN 2ND QTR.
NEW YORK — Noting its restructuring has been completed, Zale Corp. reported second-quarter earnings rose 10.7 percent to $46.2 million, or $1.27 a share, from $41.8 million, or $1.19 a year ago.
Sales for the three months ended Jan. 31 were up 5.8 percent to $451.9 million from $427.2 million a year ago. Same-store sales rose 7.4 percent.
The company’s sales were boosted by a strong pre-Valentine’s Day performance, Robert J. DiNicola, chairman and chief executive officer said in a telephone interview.
After a $1.1 million charge for early debt retirement, and $4.5 million in reorganization recoveries, earnings for the six months jumped 20 percent to $46.3 million, or $1.31 a share, from $38.6 million, or $1.10 a year ago.
Sales were up 5.3 percent to $666.2 million from $632.7 million. Same-store sales increased 7.1 percent.