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Retail Sales Yield Mixed Results

Zale Narrows Loss in 1H; Pandora's Sales, Profit Slide

Feb 22, 2012 7:00 PM   By Rapaport News
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Observations from the Hong Kong show were mostly positive. The retail environment in the U.S. continues to send mixed messages though. Blue Nile's sales and profits contracted in its Christmas quarter, and while Zale's results were certainly stronger than they have been. Zale's revenue growth fell short of the rate of jewelry price inflation, however, margins remained steady and profit rose. Michael Hill's performance was strong with only the U.S. operations reporting a loss. Pandora reported a weaker quarter as sales plunged 15 percent and profit dropped 10 percent.  However, Pandora closed its year with higher profits even though revenue was flat. General merchandise retailers --such as PPR, Macy's and Saks-- reported single-digit increases for revenue in this most recent quarter. Both Macy's and Saks observed tighter margins compared with one year ago.

 

Tags: Jewelry sales, macy's, Michael Hill, Pandora, ppr, Rapaport News, retail, saks, Zale
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