Best Stocks - (NYSE:ZLC) 1Q Beats Estimates, Shares Up

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Zale Corporation (NYSE:ZLC) climbed 1.33% to $4.56 after its fiscal first-quarter loss widened to $57.6 million, or $1.80 a share, from $48.4 million, or $1.52 a share, a year earlier. Revenue in the quarter ended Oct. 31 fell to $329.2 million from $364.1 million. Same-store sales declined 6.8%. Analysts estimated a loss of $1.96 a share on sales of $319.2 million. Gross margin widened to 48.6% from 48.5%. "We are encouraged that both sales and margin strengthened as the quarter progressed," said Chief Executive Neal Goldberg. "We will not offer the same level of broad discounting this holiday season as we did in 2008, which will help us expand our gross margin."

Zale Corporation is a specialty retailer of fine jewelry. As of July 31, 2009, the Company operated 1,247 specialty retail jewelry stores and 684 kiosks located in shopping malls throughout the United States, Canada and Puerto Rico. It operates in three segments: Fine Jewelry, Kiosk Jewelry and All Other.

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