Zale Corp. is starting a program that will give its U.S. customers some alternative financing options if their credit application is denied.
The Irving-based jewelry company said Wednesday that Monterey Financial Services Inc. is the first partner in the program, which will be offered to certain customers whose credit applications have been declined by its primary consumer financing provider, Citibank (South Dakota) N.A.
Zale also reported Wednesday that its fiscal fourth-quarter loss widened, weighed down by increased inventory charges and absent a one-time gain recorded a year ago. But the performance beat analysts' expectations.
Zale has 1,830 stores in the U.S., Canada and Puerto Rico. On Tuesday the company announced that it is teaming up with Jessica Simpson on an exclusive collection of diamond fashion jewelry. Terms of the deal were not disclosed.