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Los Angelas, CA -- (SBWIRE) -- 01/11/2013 -- Zale Corporation (NYSE:ZLC) today announced that comparable store sales increased 2.3 percent for the combined months of November and December 2012, encompassing the entire holiday selling period. This increase follows a 5.9 percent rise in the same period last year. At constant exchange rates, which exclude the effect of translating Canadian currency denominated sales into U.S. dollars, comparable store sales increased 1.6 percent for the holiday selling period, compared to an increase of 6.2 percent in the prior year period. Revenues for the two-month period were $567 million, an increase of $3 million compared to $564 million in the same period last year. The increase in revenues is primarily due to the comparable same store sales growth partially offset by revenues associated with the net decrease of 50 stores compared to last year.
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Leap Wireless International Inc. (NASDAQ:LEAP) gained the most in five months after an analyst said there’s a 70 percent change MetroPCS Communications Inc. (PCS) and T-Mobile USA will bid for it after completing their merger. Leap advanced 9.6 percent to $6.88 at the close in New York, for the biggest gain since Aug. 10. Shing Yin, a Guggenheim Securities analyst, said such a deal would “make sense.” The San Diego-based pay-as-you-go wireless carrier’s shares dropped 28 percent in 2012 for the sixth-consecutive year of declines. Leap rallied 5.5 percent on Nov. 19 on a report that it held talks with MetroPCS about a three-way deal with Deutsche Telekom AG (DTE)’s T-Mobile division. MetroPCS had disclosed in a Nov. 16 filing that it previously discussed a deal with a third party. T-Mobile and MetroPCS said in October that they planned to merge.
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Transcept Pharmaceuticals, Inc. (NASDAQ:TSPT) – The FDA is requiring that the manufacturers of certain zolpidem based prescription sleep aids such as Ambien® and Ambien CR®, and generic versions of these products, reduce the recommended dose. FDA has informed the manufacturers of these products that the recommended dose of zolpidem at bedtime for women should be lowered from 10 mg to 5 mg for immediate-release products such as Ambien, and from 12.5 mg to 6.25 mg for extended-release products such as Ambien CR. FDA also informed the manufacturers that, for men, the labeling should recommend that health care professionals consider prescribing the lower doses?5 mg for immediate-release products and 6.25 mg for extended-release products.
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Pacific Sunwear of California, Inc. (NASDAQ:PSUN) announced today that its fourth fiscal quarter same-store sales through January 6, 2013 increased 1% on a continuing operations basis. The Company also disclosed that it expects its gross margin percentage for the fourth quarter to be in the range of 21% to 22%, which represents an increase of approximately 200 to 300 basis points over the same period a year ago. This compares to previous guidance of 22% to 25%. Based on this gross margin trend, the Company expects non-GAAP loss per share from continuing operations to be at the lower end of its previously announced guidance range of $(0.09) to $(0.17), compared to $(0.20) in the fourth quarter of fiscal 2011.
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