New York & Company, Inc. Announces Private Label Credit Card Agreement with Alliance Data’s Card Services Business
July 14 2016 - 7:01PM
Business Wire
New York & Company, Inc. [NYSE:NWY], a specialty
apparel chain with 487 retail stores, today announced it has signed
a private label credit card program agreement with Alliance Data
Systems Corporation’s [NYSE: ADS] Ohio-based card services
business, a premier provider of branded private label, co-brand and
commercial credit programs. Pursuant to the terms of the agreement,
Alliance Data will continue to have the exclusive right to provide
private label credit cards to customers of New York &
Company.
John Worthington, New York & Company’s President and Chief
Operating Officer, stated, “We are extremely pleased to announce
today a 10-year private label credit card agreement with Alliance
Data. We believe this exciting new agreement will allow us to
expand upon the success of our current program thereby enabling us
to accelerate the growth of our credit and email database and
increase sales. The long-term partnership with Alliance Data
combined with our internal efforts has led to significant
improvement in our customer loyalty and growth in our private label
credit card program. Additionally, the enhancements included in the
new agreement will provide significant resources to improve loyalty
and increase sales and profitability, including further funding
which can be used to invest in marketing and the promotion of the
credit card program. We look forward to building upon the success
of this program and continuing to evolve our strong partnership
with Alliance Data in our ongoing effort to drive sales and expand
short-term and long-term profits.”
Melisa Miller, president of Alliance Data’s card services
business stated, “We are very pleased to continue our more than
three-decade relationship with New York & Company. Alliance
Data is committed to leveraging our extensive retail experience to
assist New York & Company to build customer loyalty and
engagement across its multiple business channels and drive
incremental sales.”
The agreement is more fully described in a Current Report on
Form 8-K filed with the Securities and Exchange Commission and
available at www.sec.gov and also on the Company’s investor
relations website at www.nyandcompany.com.
About New York & Company
New York & Company, Inc. is a specialty retailer of women's
fashion apparel and accessories, and the modern wear-to-work
destination for women, providing NY Style that is feminine,
polished, on-trend and versatile. New York & Company, Inc.
helps its customers feel confident, put-together, attractive and
stylish by providing affordable fashion. The Company's proprietary
branded New York & Company® merchandise is sold through its
national network of retail stores and online at
www.nyandcompany.com. The Company operates 487 stores in 41 states.
Additionally, certain product, press release and SEC filing
information concerning the Company are available at the Company's
website: www.nyandcompany.com.
Forward-looking Statements
This press release contains certain forward-looking statements,
including statements made within the meaning of the safe harbor
provisions of the United States Private Securities Litigation
Reform Act of 1995. Some of these statements can be identified by
terms and phrases such as “expect,” “anticipate,” “believe,”
“intend,” “estimate,” “continue,” “could,” “may,” “plan,”
“project,” “predict,” and similar expressions and references to
assumptions that the Company believes are reasonable and relate to
its future prospects, developments and business strategies. Such
statements are subject to various risks and uncertainties that
could cause actual results to differ materially. These include, but
are not limited to: (i) market conditions impacting the Company’s
stock; (ii) the impact of general economic conditions and their
effect on consumer confidence and spending patterns; (iii) changes
in the cost of raw materials, distribution services or labor; (iv)
the potential for current economic conditions to negatively impact
the Company's merchandise vendors and their ability to deliver
products; (v) the Company’s ability to open and operate stores
successfully; (vi) the Company’s ability to fully recognize the
potential savings identified through Project Excellence; (vii)
seasonal fluctuations in the Company’s business; (viii) the
Company’s ability to anticipate and respond to fashion trends; (ix)
the Company’s dependence on mall traffic for its sales; (x)
competition in the Company’s market, including promotional and
pricing competition; (xi) the Company’s ability to retain, recruit
and train key personnel; (xii) the Company’s reliance on third
parties to manage some aspects of its business; (xiii) the
Company’s reliance on foreign sources of production; (xiv) the
Company’s ability to protect its trademarks and other intellectual
property rights; (xv) the Company’s ability to maintain, and its
reliance on, its information technology infrastructure; (xvi) the
effects of government regulation; (xvii) the control of the Company
by its sponsors and any potential change of ownership of those
sponsors; and (xviii) other risks and uncertainties as described in
the Company’s documents filed with the SEC, including its most
recent Annual Report on Form 10-K and subsequent Quarterly Reports
on Form 10-Q. The Company undertakes no obligation to revise the
forward-looking statements included in this press release to
reflect any future events or circumstances.
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version on businesswire.com: http://www.businesswire.com/news/home/20160714006431/en/
Investors:ICR, Inc.Allison Malkin, 203-682-8200
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