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Zale Corp. (ZLC) Is Sinking After Q1 Miss

Zale Corp. (ZLC) reported a first quarter net loss of $0.88 per share after the bell Tuesday, compared to the loss of $0.99 per share last year. The consensus estimate was for a loss of $0.68. Revenues were $357 million, an increase of 1.8 percent from $351 million a year ago. The consensus estimate was for revenues of $364.65 million. The company expects to achieve positive net income for fiscal year 2013. The consensus estimate is for EPS of $0.29.

Zale Corp. gapped open sharply lower Wednesday and has continued to decline on above average volume. The stock is now down 2.10 at $5.34 and has dropped to a 2 1/2 month low.

by RTTNews Staff Writer

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