Sam’s Club extends credit-firm contract
Wal-Mart Stores Inc. announced Friday that its Sam’s Club segment has extended a contract with GE Capital Retail Bank to provide the club’s branded credit cards.
It also will switch from Discover Financial Services to MasterCard Inc. to handle transactions under the warehouse retailer’s cobranded credit cards.
Both deals are for credit programs for all Sam’s Club members in the United States and Puerto Rico.
GE Capital’s Retail Finance began its relationship with Sam’s Club in 1993 by providing credit programs for business members, then added revolving credit programs for Sam’s Club members in 1995, according to a release from Wal-Mart.
GE Capital’s Retail Finance currently offers Sam’s Club private-label credit card programs and cobranded cards for Savings, Business and Plus members, all of which double as membership cards.
The conversion to MasterCard from Discover for processing services will occur this summer. Wal-Mart gave no reason for the switch.
- Cyd King
Dillard’s announces Southern Living line
Dillard’s Inc. has teamed up with Southern Living on a new line of home products to be sold in the retailer’s stores and online, the company said Friday.
The collection includes items such as bedding, candles and ceramic accessories, according to a news release.
“We have enjoyed a longstanding relationship with Southern Living, a brand that truly resonates with our customers, who look to it as a premier source of creative ideas for the home,” Betsy Parkinson, creative director for Dillard’s, said in a statement.
“This collection is the result of an extremely collaborative partnership - aimed at presenting exciting new selections which reflect the classic, but casual elegance for which Southern Living is known,” she said. “We are very happy with the new Southern Living Collection and we believe our customers will be, as well.”
Southern Living is owned by Time Inc.
- Jessica Seaman
Arkansas Index falls 6.35, ends at 333.59
The Arkansas Index, a price-weighted index that tracks the largest-public companies based in the state, fell 6.35 to 333.59 Friday.
Thirteen stocks dropped and four rose.
Shares of USA Truck gained 4.1 percent on double its average volume.
Acxiom lost 6.1 percent in light trading, and Deltic Timber declined 3.9 percent in average trading.
For the week, 13 stocks rose and four lost ground.
USA Truck had the best week, rising 6.4 percent.
Tyson Foods fell 4.5 percent for the week.
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 29 on 04/05/2014