Citigroup (C)

According to a regulatory filing at the end of trading on Thursday, as of March 2011, Citibank will no longer provide financing for the credit cards of Zale with sales continuing to plunge for the specialty jewelry retailer.
Zale hasn’t been able to stop the continuing loss in market share it has been experiencing for years, and the drop in November sales of 18.6% has generated a lot of conjecture and buzz on what the future holds for the company, as the majority of its sales and profits are experienced over the final three months of the year.

Dec 29 · 5:17:00 PM · Source: American Banking News · Related: Zale Corporation
Track · email · face · Twitter · digg · COMMENTS
by Michael Oliveto