Nov. 25 (Bloomberg) -- Zale Corp., the biggest U.S. jewelry chain by stores, plummeted as much as 42 percent in New York trading after reporting a wider loss from continuing operations in the first quarter and rescinding its forecast for the year ending July 31.
Luxury sales may drop next year for the first time in a decade, consulting firm Bain & Co. said last month. Sales of products including Harley-Davidson Inc.motorcycles and Hermes International SCA handbags are slowing as stock prices fall and home values slide. Retailers face what may be the worst holiday-shopping season in six years, according to the International Council of Shopping Centers.
