After Triple Digit Returns in 2013, Can Zale Keep Delivering for Investors?

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While jewelry sales took a hit during the financial crisis, consumers are back to spending their discretionary income in this specialty product category.  According to data provider Rapaport, domestic jewelry-store sales rose 9.1% in the first six months of 2013, to $15 billion. 

The industry's rising sales have lifted all boats, none more so than value-priced retailer Zale , which received $150 million of much-needed financing from investment firm Golden Gate Capital in 2010 to stay afloat.  As the chart below shows, Zale's trailing twelve month stock price performance has outshone its primary competitors, Signet Jewelers and Tiffany & Co. , as well as the market as a whole.  With its first annual operating profit since 2008 under its belt and a rising stock price, can Zale provide investors with more gains?

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