FINANCE

Zale expands customer financing options

BY Marianne Wilson

Dallas — Zale Corp. announced the addition of Genesis Financial Solutions to its U.S. alternative financing program. The new financing option, which became available in October, is offered in Zales, Zales Outlet and Gordon’s retail stores.

Genesis is a consumer finance company that specializes in providing financing to consumers with near-prime and non-prime credit. Citibank (South Dakota), N.A., remains the company’s primary consumer financing provider in the United States. Zale will offer a Genesis revolving line of credit to select customers whose credit applications have been declined by Citibank, providing them with an affordable option and similar repayment terms.

"We were impressed with Genesis’ focus on customer service and their ability to offer a competitive financing option,” said Ken Brumfield, senior VP of financial products for Zale Corporation. “Adding Genesis to our portfolio of alternative financing lenders further enhances our ability to assist guests in making their fine jewelry purchase.

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FINANCE

7-Eleven completes purchase of 12 Fast Track stores

BY Staff Writer

Dallas — 7-Eleven announced that it has completed the purchase of 12 stores from Fast Track in Central North Carolina, including Winston-Salem. Terms of the agreement are not disclosed.

Remodeling of the units to transform them into 7-Eleven stores gets underway in late November and rebranding is expected to be complete by mid-February 2013.

These locations are in close proximity to another acquisition the company made earlier this year – 55 Sam’s Marts locations in the greater Charlotte area –and compliments the 7-Eleven stores’ expansion in the Tar Heel State.

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OPERATIONS

Woolworths extends agreement with Retalix

BY Staff Writer

Ra’Anana, Israel — Woolworths Limited, Australia’s leading retail group, has signed a five-year system integration (SI) services agreement with Retalix Ltd.

Under the agreement, Retalix will provide Level 2 and Level 3 support for more than 3,000 Woolworths locations and 25,000 point-of-sale terminals, serving more than 24 million customers every week across Australia and New Zealand.

Retalix will also provide IT installation at new stores and manage ongoing system configuration for all stores. The Retalix SI services team will include a group of dedicated retail IT experts from Retalix in Australia and other Retalix locations, which will allow for "follow the sun" operations, 24 hours a day, seven days a week.

"We are pleased to extend our relationship with Retalix due to our long partnership and their depth of knowledge of the retail industry. This expertise extends beyond technical systems to include a clear appreciation of retail culture, which makes a real difference to our business," said Chris Stanley, head of customer technologies across the Woolworths group.

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