Dallas Zale Corp. has responded to news reports that the company canceled orders on merchandise and delayed payments to suppliers.
“As part of our regular inventory-management process, we adjust merchandise receipts based on sales performance," the company told the Dallas Business Journal.
The company said it’s reviewing certain orders after evaluating November sales and confirmed that there has been “some delay in payment” to suppliers as the company decides which merchandise will be needed for the holiday shopping season.
“Many of our contractual agreements with suppliers allow for the return of a percentage of merchandise,” Zale Corp. told the publication. “Importantly, we have the merchandise necessary to meet customer demand this holiday.”