Originally published at www.seclive.com
Zale Corporation (NYSE:ZLC) has signed an agreement in which Alliance Data (NYSE:ADS) will provide private label credit card services to Zale's as the company makes strides to increase its credit card usage and customer retention. Alliance Data will provide the retail jeweler credit card services and has agreed to acquire Zale Corporation's existing credit card portfolio at a future date. According to Zale chief administration officer Matt Appel, Alliance Data was the winner in the selection process due to its marketing expertise and customizable options that Zale's intends to leverage for its benefit, with the goal of turning casual shoppers into loyal guests. Combining optimized marketing and analytic capabilities provided by Alliance, Zale's hopes it can reduce the time between jewelry purchases.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.