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HSBC extends contracts with four key national merchants for private label credit
14 October 2010
The Neiman Marcus Group, Furniture Row, Helzberg Diamonds and Polaris
New York, NY – HSBC North America (“HSBC”) has announced long term contract renewals/extensions with four major U.S. merchants across multiple industries, reinforcing the company’s commitment to building their private label (merchant branded) credit card business in the U.S.
"Prominent merchants like The Neiman Marcus Group, Furniture Row, Helzberg Diamonds and Polaris count on HSBC for expertise and innovation in managing their customers’ credit needs, while helping to build loyalty to their brands,” said Brian Hughes, Executive Vice President and Head of Card and Retail Services for HSBC – North America. “We look forward to continuing these longstanding relationships, and building new ones, as we continue to grow our private label credit card business."
Details of the extensions are below:
- The Neiman Marcus Group extended into 2015. HSBC has managed their program since 2005
- Furniture Row extended into 2014. HSBC has managed their program since 2003
- Helzberg Diamonds extended into 2013. HSBC has managed their program since 2004
- Polaris extended into 2013. HSBC has managed their program since 2001
Specific merchant program details follow:
This press release is not an offer to sell or a solicitation of an offer to buy any security. The Exchange Offer is being made solely by the offering memorandum and only to such persons and in such jurisdictions as is permitted under applicable law.
Consumer credit is very important to The Neiman Marcus Group, as a significant percentage of their sales are made by customers using the Neiman Marcus and Bergdorf Goodman credit card. Neiman Marcus Group's private label credit card gives customers an additional way to pay for purchases while earning InCircle© points with each purchase that can be redeemed for gift cards, air miles, and other exclusive gifts.
Furniture Row’s Express Money® Card program offers special financing opportunities, enabling consumers to purchase furniture in an affordable way.
Helzberg Diamonds’ Preferred Card program provides access to special purchase offers, as well as exclusive benefits and financing options.
The Polaris private label credit card program operates under StarCard. The Polaris StarCard provides Polaris dealers and customers attractive promotional offers and a convenient way to purchase Polaris vehicles, parts, garments and accessories.
About Neiman Marcus Group
The Neiman Marcus Group is comprised of the Specialty Retail Stores segment and the Direct Marketing segment. The Specialty Retail Stores segment includes Neiman Marcus Stores and Bergdorf Goodman. The Direct Marketing segment conducts both print catalog and online operations under the Neiman Marcus, Horchow and Bergdorf Goodman brand names. These renowned retailers offer upscale assortments of apparel, accessories, jewelry, beauty and decorative home products to the affluent consumer.
About Furniture Row®
The Furniture Row Companies make up one of the largest family-owned specialty home furnishings and bedding retailers operating over 330 stores in 31 states. For more information, please visit http://www.FurnitureRow.com
About Helzberg Diamonds
Helzberg Diamonds® , a retail and online jewelry store focused on customer service, was founded in 1915 and has over 230 stores nationwide, featuring a wide selection of fine jewelry, including diamond engagement and wedding rings, precious gems and watches. Helzberg Diamonds takes pride in its history of offering exceptional value, exclusive designs and timeless jewelry. Helzberg Diamonds is based in North Kansas City, Mo., and is part of the Berkshire Hathaway, Inc. (NYSE symbol BRK/B) family of companies. For the locations nearest you, call 1-800-HELZBERG (800-435-9237) or http://www.helzberg.com.
With annual 2009 sales of $1.6 billion, Polaris designs, engineers, manufactures and markets off-road vehicles (ORVs), including all-terrain vehicles (ATVs) and the Polaris RANGER™, snowmobiles and Victory motorcycles for recreational and utility use and has recently introduced a new on-road electric powered neighborhood vehicle. Polaris is a recognized leader in the snowmobile industry; and one of the largest manufacturers of ORVs in the world. Victory motorcycles, established in 1998 and representing the first all-new American-made motorcycle from a major company in nearly 60 years, are rapidly making impressive in-roads into the cruiser and touring motorcycle marketplace. Polaris also enhances the riding experience with a complete line of Pure Polaris apparel, accessories and parts, available at Polaris dealerships.
Polaris Industries Inc. trades on the New York Stock Exchange under the symbol “PII,” and the Company is included in the S&P Small-Cap 600 stock price index. Information about the complete line of Polaris products, apparel and vehicle accessories is available from authorized Polaris dealers or anytime from the Polaris homepage at www.polarisindustries.com.
About HSBC – North America
HSBC North America Holdings Inc. is one of the ten largest bank holding companies in the United States with assets of $334 billion at 30 June 2010 (US GAAP).The company’s businesses serve customers in the following key areas: personal financial services, credit cards, specialty insurance products, commercial banking, private banking, and global banking and markets.
- Kate Durham
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