Zale Q3 Net Profit Rises - Quick Facts

(RTTNews) - Jewelry retailer Zale Corp. (ZLC) Tuesday reported an increase in third-quarter earnings, chiefly due to a higher gross margin, despite a decline in revenues.

Net earnings advanced to $8.82 million or $0.19 per share, from $5.05 million or $0.13 per share a year ago. Gross margin improved to 56 percent from 52.6 percent a year earlier.

Excluding transaction costs related to the proposed merger with Signet Jewelers Ltd., earnings stood at $15 million or $0.32 per share.

On average, five analysts polled by Thomson-Reuters expected the company to report earnings of $0.17 for the quarter. Analysts' estimates typically exclude one-time items.

Revenues, on the other hand, decreased to $431.03 million from $442.71 million a year earlier. Analysts expected revenues of $441.91 million. Comparable store sales increased 0.6 percent.