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RadioShack and Citi Retail Services today announced a long-term agreement to extend their 28-year consumer credit relationship. Under the agreement, Citi will continue to provide service-enhancing solutions and analytics in support of RadioShack’s targets for growth. RadioShack customers will continue to enjoy comprehensive financing programs and top-tier customer service.
“Our business is in the midst of a significant and exciting transformation,” said Joe Magnacca, Radio Shack’s chief executive officer. “Citi Retail Services has been an important partner for RadioShack, delivering the consistency and high level of service that is vital to our success. We are happy to continue to offer this program to our customers with Citi’s partnership.”
“RadioShack has been a strong partner of Citi’s since 1985, with a shared focus on customer satisfaction,” said Leslie McNamara, managing director and executive vice president of Partner Management for Citi Retail Services. “We appreciate RadioShack’s continued loyalty and commitment to our relationship.”
RadioShack will re-launch its private label credit card in the first quarter of 2014, with new branding. This will be one element of a brand refresh that includes new and exclusive product offerings, brighter and more easily shop-able stores, and the opening of over 100 concept and brand statement stores before the end of 2013.
The renewal of the agreement affirms Citi Retail Services’ position as a top provider of private label and co-branded card products to North American retailers and their customers. The business services millions of accounts for a number of iconic brands, and works with forward-looking retailers like RadioShack to find ways to deepen existing customer connections while developing new ones.
About RadioShack Corporation
RadioShack (NYSE: RSH) is a leading national retailer of innovative mobile technology products and services, as well as products related to personal and home technology and power supply needs. RadioShack® offers consumers a targeted assortment of wireless phones and other electronic products and services from leading national brands, exclusive private brands and major wireless carriers, all within a comfortable and convenient shopping environment.