Zale Posts Net Loss of $46.2 Million
From Bloomberg News
Zale Corp., the largest North American jewelry retailer, had a second-quarter net loss of $46.2 million after writing down the value of its Piercing Pagoda acquisition.
The net loss amounted to $1.44 a share, compared with net income of $95 million, or $2.70 a share, a year earlier, Zale said. Sales increased 1.3% to $908.4 million.
Irving, Texas-based Zale shares rose 77 cents, or 2.6%, to $30.01 on the NYSE.
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