Fine jewellery retailer Zale has reported that its comparable store sales rose by 0.9 per cent for November and December.

Total revenues for the period were £490 million, an increase of two per cent, although this figure does not take into account the 29 Bailey Banks & Biddle stores that have been closed.

The figures demonstrate a growing demand for fine jewellery; with competitor Neiman Marcus reporting this week that its comparable revenue for the five weeks prior to December 31st rose by 8.3 per cent to £359 million, with jewellery an especially strong seller.

Four of Zale's six brands showed strong performances during the holiday season, with just Zales and Piercing Pagoda turning in negative figures.

"The repositioning at Zales is in its early stages and did not produce the results we expected this holiday," said Mary L. Forte, president and chief executive officer.

"However, the strong performance achieved by our other brands that are further along in a number of our corporate initiatives clearly indicates that the strategy is working and we are on the right track."

Platinum has had a big impact on the luxury jewellery market in recent times and helped high-end jeweller Tiffany to post profits of 37 per cent in the third quarter of last year.


Ÿ Adfero Ltd