Dallas -- Zale Corp.’s first-quarter loss widened as a debt-related charge hit the bottom line but a slight drop in revenue was offset by higher margins. The jewelry retailer reported a loss of $97.9 million, up from $59.7 million a year earlier.
Sales fell 0.7% to $327 million, from $329 million. Same-store sales in the quarter ended Oct. 31 fell 1.1%.
“Since February 2010 when we began implementing our turnaround plan, each fiscal quarter has shown improvement," said CEO Theo Killion. "The second fiscal quarter will provide an important barometer of the progress we're making in our turnaround.”