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Zale Returns to Full Year Profitability
Reports Fourth Quarter and Fiscal Year 2013 Results
Fourth Quarter Highlights
- Comparable store sales up 5.6 percent; Zales branded stores up 8.1 percent; Peoples branded stores up 7.0 percent at constant exchange rates
- Gross margin up 150 basis points to 53.1 percent
- Operating margin up 120 basis points to (0.7) percent
Fiscal Year Highlights
- Net earnings of $10 million, or $0.24 diluted earnings per share, up $37 million, or $1.09 per share
- Comparable store sales up 3.3 percent; Zales branded stores up 4.7 percent; Peoples branded stores up 4.8 percent at constant exchange rates
- Gross margin up 60 basis points to 52.1 percent
- Operating margin up 90 basis points to 1.9 percent
DALLAS--(BUSINESS WIRE)--August 28, 2013--Zale Corporation (NYSE: ZLC) today reported its financial results for the fourth quarter and full year ended July 31, 2013.
“We are pleased to report another solid quarter with a 5.6 percent comp and significant improvement to margins. Importantly, for the year we achieved a significant milestone by delivering our highest net income in six years,” commented Chief Executive Officer Theo Killion. “We intend to build on this momentum as we focus on driving profitable top-line growth and long-term shareholder value.”
The following information was filed by Zale Corp (ZLC) on Wednesday, August 28, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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