Bread Financial Inks Deal to Provide Dual Credit Card Program for Saks Fifth Avenue and Saks OFF 5TH
Portfolio Pulse from Benzinga Newsdesk
Bread Financial (NYSE:BFH) has signed a multi-year agreement to provide dual credit card programs for Saks Fifth Avenue and Saks OFF 5TH. The existing Saks World Elite Mastercard© Credit Card and the Saks Credit Card will be issued and supported by Comenity Capital Bank, a subsidiary of Bread Financial, starting in August 2024. The transition of the existing Saks Fifth Avenue credit card portfolio is expected to close in Q3 2024.
June 12, 2024 | 11:02 am
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Bread Financial has signed a multi-year agreement to provide dual credit card programs for Saks Fifth Avenue and Saks OFF 5TH, starting in August 2024. This partnership is expected to enhance Bread Financial's market presence in the luxury shopping sector.
The partnership with Saks Fifth Avenue, a leading luxury retailer, is likely to boost Bread Financial's market presence and revenue streams. The transition of the existing credit card portfolio further solidifies this relationship, indicating a positive short-term impact on BFH's stock price.
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