Zale’s second-fiscal-quarter results were in line with the double-digit drops reported during the Christmas sales cycle. The retailer’s revenue declined 14 percent to $582.3 million, while its cost of sales fell by 23 percent to $292.5 million, which helped it achieve a quarterly profit of $6.7 million, compared with a loss of $32 million one year ago. In this week’s broadcast, see how Zale’s figures have changed in the past five years. In other news, The Knot released the results of its annual wedding expense survey and while the average budget fell by 5 percent in 2009, planned spending on engagement rings remained consistent with the results of past surveys.
Diamond News Broadcast is a Rapaport’s service