September 23, 2011, 4:46 PM

Web sales grow 17% for Zale in fiscal 2011

E-commerce now accounts for 4% of total sales.

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Total sales grew, same-store sales increased, but it was the web that came on the fastest for multichannel jeweler Zale Corp. for the 2011 fiscal year.

For the fiscal year ended July 31, Zale, No. 194 in the Internet Retailer Top 500 Guide, reported:

  • E-commerce sales increased 16.5% to $74.3 million from $63.8 million in fiscal 2010.
  • Total sales increased 7.4% to $1.74 billion from $1.62 billion in fiscal 2010.
  • Comparable-store sales increased 8.1%.
  • Net loss was $112 million compared with a net loss of $96 million in fiscal 2010.

Internet Retailer calculates the web accounted for 4.3% of total sales compared with 3.9% in fiscal 2010.

"In fiscal 2011, we made substantial progress in the multi-year initiative to return to profitability," says CEO Theo Killion.

Zale doesn’t break out quarterly web sales, but for the fourth quarter of fiscal 2011 reported:

  • Total sales increased 9.3% to $377 million from $345 million in Q4 fiscal 2010.
  • Comparable-store sales grew 9.8%.
  • Net loss was $33 million compared with $29 million in Q4 fiscal 2010.
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