Thursday before the bell, credit services provider Alliance Data Systems Corp. (ADS) announced signing a multi-year contract with specialty women's apparel retailer New York & Co. (NWY), to continue providing private label credit card services to over 593 retail stores in 44 states and online.
Alliance Data has been providing its services to New York & Co since 1996. Under the terms of the extended deal, Alliance Data will continue providing private label credit card services, including account acquisition and activation, receivables funding, card authorization, private label credit card issuance, statement generation, remittance processing, customer service functions, and marketing services to New York & Co.
Ronald Ristau, the president and chief financial officer for New York & Co, stated, "Our long-term partnership with Alliance Data has been instrumental in enabling us to drive sales and build customer loyalty to our brand."
ADS is currently trading at $53.84, up 38 cents. NWY is currently trading at $8.82, down 8 cents.
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