Zale Corp. (ZLC) reported third-quarter net income of $5 million or $0.13 per share, compared to a net loss of $5 million or $0.14 per share, last year.
On average, six analysts polled by Thomson Reuters expected the company to report a loss per share of $0.02 for the quarter. Analysts' estimates typically exclude special items.
Revenues decreased to $443 million from $445 million last year. Analysts expected revenue of $443.83 million for the quarter. Comparable store sales increased 1.4 percent.
Gross margin on sales was $233 million, or 52.6 percent, compared to $228 million, or 51.3 percent, in the third quarter of fiscal 2012.
The company said it continues to expect to achieve positive net earnings for fiscal 2013.
Zale also announced that Terry Burman, a prominent jewelry industry veteran with over 30 years of experience, has been appointed as a director and as chairman of the board, effective May 31. John Lowe, Jr., who has served as chairman for the past five years, will remain on the board.
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