Have you ever heard of Reeds Jewelers?
The only reason I ask is because I own a few shares in technology driven Alliance data services (ADS).
Reeds Jewelers, Inc. (Amex: RJI chart, msgs) today announced the sale of its private label credit card portfolio to Alliance Data Systems Corp (NYSE: ADS chart, msgs). Under the terms of a seven-year agreement, Alliance Data Systems will provide a full-service private label credit card program to Reeds Jewelers that will include account acquisition and activation, receivables funding, card authorization and data capture, private label credit card issuance, payment processing, statement generation, and customer service.
"We are excited to be starting our new fiscal year with Alliance Data Systems," said Alan M. Zimmer, President and CEO, of Reeds Jewelers, Inc. "We look forward to growing our business and strengthening our balance sheet as a result of this relationship, while providing greater convenience and value to our customers."
About Reeds Jewelers, Inc.
Based in Wilmington NC, Reeds Jewelers, Inc. (Amex: RJI chart, msgs) is one of the nation's leading jewelers and operates 100 specialty retail stores primarily in enclosed regional malls located in 21 states primarily in the Southeast and Midwest section of the United States. Reeds Jewelers employs over 1,000 associates throughout its marketing area. For more information about the Company, visit its web site, www.reeds.com.
About Alliance Data Systems
Based in Dallas, Alliance Data Systems (NYSE: ADS chart, msgs) 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 customer 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 over 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. |
