UPDATE: Zale Narrows FQ3 Loss To $10 million

Zale Corporation ZLC released its results for the third fiscal quarter on Wednesday. Zale reported a quarterly net loss from continuing operations at $10 million, or $0.31 per share, versus a net loss from continuing operations of $15 million, or $0.46 per share, in the year-ago quarter. Its revenue surged 14.5% to $412 million, from $360 million. However, analysts were expecting a loss of $0.58 per share on revenue of $391.96 million. Zale's gross margin on sales rose 13% to $206 million, from $183 million, in the year-ago period. Zale's comparable store climbed 15.2%, versus a decline of 2.2%, in the year-ago period. Zale shares fell 1.12% to close at $4.42 yesterday. Read more from Benzinga's Company news.