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Zale Corp. (ZLC) Plunged To A 2-Month Low After Q1 Miss

Zale Corp. (ZLC: Quote) 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 Tuesday and declined in the first half hour of trade, before settling into a range. The stock closed down by 2.23 at $5.21 on the highest volume of the year. Zale dropped to over a 2 1/2 month low and fell below its 50-day moving average.

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by RTT Staff Writer

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