UPDATE 1-Zale reports smaller quarterly loss

Nov 21 (Reuters) - Jewelry retailer Zale Corp reported a smaller quarterly loss on Monday while same-storesales improved. KEY POINTS Q1 2011 Q1 2010 Revenue $351 mln $327 mln Net loss $32 mln $98 mln Loss per share 99 cents $3.05 * Fiscal first-quarter same-store sales rose 5.8 percentfrom a year earlier. That compared to a year-over-year declineof 1.1 percent

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