Alliance Data Systems Corp. , a leading provider of transaction services, marketing services and credit services, today announced the signing of a six-year agreement with American Home Furnishings. Under terms of the agreement, Alliance Data will provide private label credit card services for American Home stores located throughout New Mexico and Arizona. Alliance Data will convert the existing proprietary card program and own the receivables previously processed and funded in-house by American Home.
Services Alliance Data will provide include account acquisition and activation, receivables funding, card authorization, private label credit card issuance, statement generation, remittance processing, and customer service functions.
"We selected Alliance Data Systems because of their considerable retail industry experience as well as thorough understanding of the nuances associated with furniture retailing," said Lee Blaugrund, chief executive officer, American Furniture Company. "Through this relationship, we will have the opportunity to focus on our core business while Alliance Data will help us increase sales and more effectively reach our best customers through this turnkey private label credit card program."
"We are pleased about adding American Home Furnishings -- a top-100 furniture retailer -- to our list of retail clients," said Ivan Szeftel, president, retail credit services, Alliance Data Systems. "American Home Furnishings is a perfect fit for us particularly since this private label portfolio is consistent with our existing retail clients' portfolio levels. By applying our robust set of credit and marketing services, including our promotional program functionality, we are looking forward to helping improve customer loyalty and incremental sales for American Home's business."
About Alliance Data Systems
Based in Dallas, Alliance Data Systems is a leading provider of transaction services, credit services and marketing services, assisting retail, petroleum, utility and financial services companies in managing the critical interactions between them and their customers. Alliance Data each year manages over 2.5 billion transactions and 72 million consumer accounts for some of North America's most recognizable companies. The Company also operates and markets the largest coalition loyalty program in Canada. Alliance Data Systems employs approximately 6,500 associates at more than 20 locations in the United States, Canada and New Zealand. For more information about the company, visit its web site, www.alliancedatasystems.com.
About American Furniture Company
Based in Albuquerque, New Mexico American Home Furnishings is a home furnishings retailer serving Albuquerque, Santa Fe, Farmington NM and Tucson AZ. Founded in 1936, American Home is consistently ranked in the top 100 furniture retailers in the United States. For more information on the company, visit its web site, www.americanhome.com.
Alliance Data Systems' Safe Harbor Statement/Forward Looking Statements Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of the Private Litigation Reform Act. Such statements may use words such as "anticipate," "believe," "estimate," "expect," "intend," "predict," "project" and similar expressions as they relate to Alliance Data Systems or our management. When we make forward-looking statements, we are basing them on our management's beliefs and assumptions, using information currently available to us. Although we believe that the expectations reflected in the forward-looking statements are reasonable, these forward-looking statements are subject to risks, uncertainties and assumptions including the risks discussed in our filings with the Securities and Exchange Commission. If one or more of these risks materialize, or if our underlying assumptions prove to be incorrect, actual results may vary materially from what we projected. Any forward-looking statements contained in this press release reflect our current views with respect to future events and are subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We have no intention, and disclaim any obligation, to update or revise any forward-looking statements, whether as a result of new information, future results or otherwise.
Alliance Data Systems Corp.