Boston, MA 05/23/2013 (wallstreetpr) – The shares of Zale Corporation (NYSE:ZLC) increased by 22.22 percent to close at $6.60 per share after the company reported its results for the third quarter 2013. The trading volume for the company was also very high at 6.89 million shares for the trading day, while the average trading volume for Zale Corporation (NYSE:ZLC) is at 397,208 shares per day. The company operates through its wholly owned subsidiaries and is involved in retail sales of fine jewellery in North America.
Results for third quarter
Zale Corporation (NYSE:ZLC) had reported for net income of $5 million or $0.13 per basic and diluted share to its equity holders for the third quarter of fiscal year, 2013. This was observed to be a complete reversal of net loss of $5 million for the same quarter of previous year. Further, the fine jewellery retailer had also attained a gross profit margin of 52.6 percent on its sales, which was increased by 130 basis points over the previous year and had attained an operating profit margin of 2.2 percent or 80 basis points increase over the previous year.
The fine jewellery retailer based in North America, Zale Corporation (NYSE:ZLC) had managed to report positive revenues for the tenth consecutive year. Though the company faced a slow start for this quarter in February, the demand and sales gained up in March and April months, thereby pushing the company to report profits. Further, the recent developments made through the introduction of guest facing teams and improvement in the product offerings had also contributed to the profits of Zale Corporation (NYSE:ZLC).
