Monday, 16th August 2004 (3829 views)

North American fine jewellery retailer Zale Corporation has announced its fourth quarter results, reporting a 2.1 per cent increase in same store sales.

Figures also indicated that for the period ending July 31, total revenues were up 3.2 per cent to $456 million.

Mary L. Forte, president and chief executive officer said: "These sales results met our expectations for the fourth quarter and have us well-positioned as we enter our new fiscal year."

"During the course of the year, we continued to fine-tune our merchandise assortments, strengthened our clientele development efforts and made operational adjustments to improve our in-stock positions, all of which had a positive impact on our sales performance," Ms Forte added.

The firm has also announced a new stock repurchase programme where the company can purchase up to a total of $50 million of Zale common stock on the open market.

 

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