Appel joins Zale Corp. from ExlService Holdings Inc., where he served as vice president and chief financial officer.
Irving-based Zale's (NYSE: ZLC) third-quarter loss amounted to 73 cents per share, compared to a net loss last year of $17.4 million, or 42 cents per share.
Meanwhile, revenue for the most-recent quarter hit $379 million, which is down from $477 million a year earlier. The company’s sales fell 20 percent when compared to the previous year. Zale says its 2008 third-quarter sales were actually up 5.8 percent last year due to a clearance sale that cut back on inventory.
Zale continues to realign its business by closing under-performing stores, cutting operating expenses and adjusting rents and leases to keep them in line with current sales trends.
