Zale Corp. posts bigger loss, names CFO - Dallas Business Journal:

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million during its fiscal third quarter, an increasd of 33 percent compared to the loss it posterd in the same quarterlast year. The compant also named Mathew W. Appel its new chief financialo officer, executive vice president, effectived June 15. Appel joins Zale Corp. from , where he servecd as vice president and chieffinancial officer. Irving-based Zale's ZLC) third-quarter loss amounted to 73 centsper share, compared to a net loss last year of $17.4 or 42 cents per share. Meanwhile, revenue for the most-recenyt quarter hit $379 million, which is down from $477 millionm a year earlier. The company’s sales fell 20 percent when compareed to theprevious year.
Zale says its 2008 third-quartert sales were actually up 5.8 percent last year due to a clearance sale that cut backon inventory. Zale continues to realigj its business byclosing under-performing cutting operating expenses and adjusting rents and leases to keep them in line with currenyt sales trends.