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Zales and Contract Jewelers


#1

I have heard that Zales corp. will no lomger have Jewelers at there
stores because of O.S.H.A… I have also heard that they are not going
to raise there price list due to the Financial problems the having.
Do they plan on selling out to and overseas company?

Thanks Joeric


#2

Joeric- I’m betting that it isn’t OSHA, but money driving any
decisions. There has been talk of Zales merging with Sterling. I’m
guessing they won’t do it. They are in the middle of closing more
than a hundred stores and laying off over 200 middle managment
people. I’m guessing that they are doing everything in their power
to raise funds. They have lost a CEO a CFO and a couple of presidents
and vice presidents in the last couple of years. They lost one CFO
because he was cooking the books. He wasn’t paying vendors for over
3 months and using that to increase their bottom line on paper to
appear better in the stock market. There is now a class action
lawsuit over that little incident. Their big money makers right now
are the piercing pagodas. They also have been setting up stand alone
repair kiosks separate from the stores.

My husband and I worked as contract repair folks for the Zale corp
and after years of having to use a price list that was from a decade
earlier and waiting for months to get paid, we quit. I won’t do
business with them for that reason.

I have an agreement with my bank. they don’t make jewelry and I don’t
finance large jewelry corporations.


#3

Their big money makers right now are the piercing pagodas.

Actually, Piercing Pagodas are being closed by Zales, too. Out of
105 closings, 50 will be kiosks, which will probably be the Piercing
Pagodas. They say most of the closings will involve those losing
money, and with expiring leases.

Lauren


#4

Unfortunately I had the exact same experience with them! I have no
bussiness dealings wih them anymore after years of on and off
service to several of their stores. Maybe it will work out better for
you, the worst that can happen is spending a lot of time chasing your
money.

Regards, Craig


#5
I have an agreement with my bank. they don't make jewelry and I
don't finance large jewelry corporations. 

The aftermath from Zale’s first big failure years ago is still
reverberating through the industry. I am sure that some of the
current problems of the world-wide diamond industry can trace their
problems right back to Zale’s failure to make good on their debts.
Lots of good folks got left holding the bag.

OSHA I don’t know about, but slow pay and old price lists I do.

Dave


#6

I haven’t seen this thread before, but the word ZALE’s & Contract
Jewelers caught my attention.

Here in my town, we cater to 9 stores, we pick up and deliver twice
a week (we do repairs only). Upon deliver, invoice in hand, we
collect for the work.

My attitude is this, as a retailer, do they give out the repairs to
the customer and tell them:" Hey look, take 90 days+ to pay! And
then you can give us excuses as to why you can’t pay us putting you
beyond 90 days…"

My experience here in Canada, we have People’s and we have Mappin’s
Jewellers, both owned by Zale’s. They were the worst at paying, at
one point I had almost 5 months of work done with no pay from these
<>! Would they work 5 months for nothing?

So one day, I gleefully picked up their repairs, and diamond setting
work.

4 days later, on my regular scheduling I would be done and
delivering, but I hadn’t started on their stuff yet. The store
managers start calling looking for their repairs, my solution was
this. Bring me a check or cash for the total amount owing, or I am
holding this stuff until we go to court.

Again, there may be milder ways of handling this situation but the
way I see it, these stores wouldn’t want me holding there customers
stuff and having to explain to almost 200 people why their stuff
isn’t coming back for a long while.

The check arrived in 1 day!

Now it is cash on delivery for these <>.

Hopefully I offended no one, I just calls 'em like I sees 'em :slight_smile:

Gerry