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Charming Shoppes, Inc. and Alliance Data Sign Long-Term Agreements Including Sale of Existing Private Label Credit Card Portfolios.

Article Excerpt
- Charming Shoppes to Become a Top-Ten Alliance Data Client - Charming Shoppes Reduces Net Debt, Strengthens Liquidity, Eliminates Future Credit Financing Needs

DALLAS, Aug. 13 /PRNewswire-FirstCall/ -- Alliance Data Systems Corporation , a leading provider of loyalty and marketing solutions derived from transaction-rich data, and Charming Shoppes, Inc. , a leading multi-brand apparel retailer specializing in women's plus-size fashions, today announced a long-term agreement where Alliance Data will assume operation of Charming Shoppes' private label credit card programs on an ongoing basis as well as acquire the credit card files and service center operations associated with Charming Shoppes' branded card programs. Alliance Data expects the transaction to close by the end of the year, subject to attaining certain customary regulatory approvals.

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Charming Shoppes operates women's apparel brands including Lane Bryant, Lane Bryant Outlet, Fashion Bug and Catherines Plus Sizes, and posts annual sales of more than $2 billion with 2,258 retail stores nationwide. Lane Bryant is the most recognized name in specialty plus-size clothing with an emphasis on fashion, serving women ranging in age from 35-55; Fashion Bug offers updated fashions with value pricing in plus and misses sizes for women ages 30-50; and Catherines Plus Sizes offers classic and current apparel and accessories for career and casual lifestyles for ages 45+. Charming Shoppes currently operates its private...