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Stage Stores, Inc. (NYSE: SSI) and Alliance Data Systems Corporation (NYSE: ADS) today announced that they have signed a long-term Amended and Restated Private Label Credit Card Renewal Agreement for private label credit card services.
Under the terms of the agreement, Alliance Data’s Retail Services business will continue to provide a full suite of private label credit card services geared toward driving sales and brand loyalty to grow Stage Stores’ customer base. In addition, Alliance Data and Stage Stores will collaborate to develop and launch a new, simplified loyalty program, with enhanced benefits and incentives exclusive to cardholders. Stage Stores currently operates 836 stores in 40 states under the Bealls, Goody’s, Palais Royal, Peebles, Stage and Steele’s trade names.
Michael Glazer, President and Chief Executive Office of Stage Stores, commented, “We consider our private label credit card program to be a key component of our retailing concept, and we place a high degree of importance on the relationship that we have with our cardholders. Alliance Data is a recognized industry leader, with strong retail experience, systems capabilities and dedication to customer service, and we are extremely pleased to be continuing our long-term strategic relationship with them. We are highly confident that Alliance Data will continue to deliver superior credit products and services to our cardholders, as well as to provide a robust suite of tools designed to drive sales and strengthen the relationship with our customers.”
Melisa Miller, president of Alliance Data Retail Services, said, “We look forward to continuing our nearly decade-long partnership with Stage Stores, and we are very pleased they will rely on us to continue to provide critical services to their business and their customers. Through our innovative credit and marketing programs, we are confident we can continue to play a significant role in growing their private label credit card program and help them realize their goals of profitable growth and enhanced customer loyalty.”