Zales continues its financing for its credit sales by paying shortfall to Citibank.
June 21st, 2010
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Zales has had to pay multi-million dollar penalties to keep its credit card financing with Citibank.
Zales has paid Citibank a more than $5 million shortfall because its credit card sales failed to meet minimums required by an expiring agreement with the bank.
On Wednesday, February 24, Zale Corporation released its financial statements for the quarter ended January 31, 2010. We take a close look at these statements.