Shares Of Zale Down After Fiscal Q3 Earnings, News Regarding Proposed Signet Rumor

Investors Tuesday have been responding to the fiscal third quarter earnings report for Zale ZLC and news about a proposed Signet merger.

In the earnings report, the company reported a revenue of $431 million for the quarter, down approximately 2.7 percent year-over-year. The company also reported a gross margin of $241 million.

The company also reported an EPS of $0.19 which beat the estimates of $0.17. This figure was also up year-over-year from the $0.13 reported last year at this period.

In addition to the earnings report, Zale has come out in defense of the proposed merger with Signet, which TIG has since called a flawed analysis.

The stock closed Tuesday down 0.58 percent at $22.41.