Stage Stores, Inc. (Nasdaq:STGS) and Alliance Data Systems Corporation (NYSE:ADS) today appear that they accept accomplished a absolute acquirement and auction acceding whereby Alliance’s coffer accessory will acquirement Peebles’ clandestine characterization acclaim agenda portfolio from Stage Stores. In November 2003, Stage Food took buying of the acclaim agenda portfolio back it acquired Peebles Inc. Stage Food kept the Peebles name, and currently operates 142 Peebles stores. Alliance additionally provides clandestine characterization acclaim agenda casework for Stage Stores’ added retail brands, including Bealls, Palais Royal and Stage.
Beneath acceding of the acquirement and auction agreement, Alliance’s coffer accessory will access Peebles’ clandestine characterization acclaim agenda portfolio, which currently consists of about 180,000 statemented accounts anniversary month, and will accept the outstanding balances associated with those accounts. Alliance’s coffer accessory will own and annual the accounts and balances generated during the appellation of a abstracted affairs agreement, which will run through September 2013. Alliance will accommodate annual accretion and activation, receivables funding, agenda authorization, clandestine characterization acclaim agenda issuance, annual generation, business services, remittance processing and chump annual functions.
The acquirement and auction acceding provides for Stage Food to accept banknote at closing which approximates the bulk of annual balances outstanding at the time of closing. As a point of reference, the annual balances totaled about $43 actor on January 2, 2004. This transaction is currently accepted to aing during the aboriginal division of the 2004 budgetary year. Stage Food expects to advance the gain for accepted accumulated purposes.
Jim Scarborough, Chairman, Admiral and Chief Executive Officer of Stage Stores, commented, “Given that we had awash our clandestine characterization acclaim agenda business to Alliance on September 12, 2003, it had consistently been our ambition to advertise Peebles’ clandestine characterization acclaim agenda business as anon afterwards the accretion as possible. We accept been admiring with our acquaintance with Alliance back we began our abiding cardinal accord with them aftermost September, and we are assured that they will abide to accommodate above acclaim articles and casework to our customers.”
“We are admiring that Stage has afresh called Alliance to accommodate clandestine characterization acclaim services, this time for Peebles,” said Ivan Szeftel, president, Retail Services, Alliance Data Systems. “We are aflame about accretion our abiding accord with Stage and are assured that we can bear the aforementioned value-added acclaim and business casework for Peebles as we accept for Stage’s added retail brands.”
About Stage Food
Stage Stores, Inc. brings nationally accustomed cast name apparel, accessories, cosmetics and cossack for the absolute ancestors to baby and mid-size towns and communities through 522 food amid in 27 states. The Aggregation operates beneath the Bealls, Palais Royal and Stage names throughout the South Central states, and beneath the Peebles name throughout the Mid-Atlantic, Southeastern and Midwestern states. For added advice about Stage Stores, appointment the Company’s web armpit at www.stagestoresinc.com.
Stage Stores’ “Safe Harbor” Annual
This columnist absolution contains “forward-looking statements” aural the acceptation of the Clandestine Securities Litigation Reform Act of 1995, including comments apropos the accepted net banknote gain from the auction of Peebles’ clandestine characterization acclaim agenda portfolio, the advancing closing date of the transaction and the accessible use of the auction proceeds.
The Aggregation intends advanced attractive analogue such as “believes”, “expects”, “may”, “will”, “should”, “could”, “anticipates”, “plans” or agnate expressions to analyze advanced statements. Such statements are accountable to assertive risks and uncertainties which could account the Company’s absolute after-effects to alter materially from those advancing by the advanced statements. These risks and uncertainties include, but are not bound to, those declared in the Company’s Annual Report on Form 10-K as filed with the Securities and Exchange Commission (the “SEC”) on April 23, 2003, in the Company’s Quarterly Reports on Form 10-Q as filed with the SEC and added factors as may periodically be declared in added Aggregation filings with the SEC.
About Alliance Data Systems
Based in Dallas, Alliance Data Systems (NYSE: ADS) is a arch provider of transaction services, acclaim casework and business services. The aggregation assists retail, petroleum, account and banking casework audience in managing the analytical interactions amid them and their customers. Alliance Data manages over 72 actor customer relationships for some of North America’s best apparent companies and operates and markets the better affiliation adherence affairs in Canada. Alliance Data Systems employs about 7,000 assembly at added than 20 locations in the United States and Canada. For added advice about the company, appointment its web site, www.alliancedatasystems.com.
Alliance Data Systems’ Safe Harbor Statement/Forward Attractive Statements
Statements independent in this columnist absolution that are not absolute facts may be advanced statements aural the acceptation of the Clandestine Litigation Reform Act. Such statements may use words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “predict,” “project” and agnate expressions as they chronicle to Alliance Data Systems or our management. Back we accomplish advanced statements, we are basing them on our management’s behavior and assumptions, application advice currently accessible to us. Although we accept that the expectations reflected in the advanced statements are reasonable, these advanced statements are accountable to risks, uncertainties and assumptions including the risks discussed in our filings with the Securities and Exchange Commission. If one or added of these risks materialize, or if our basal assumptions prove to be incorrect, absolute after-effects may alter materially from what we projected. Any advanced statements independent in this columnist absolution reflect our accepted angle with account to approaching contest and are accountable to these and added risks, uncertainties and assumptions apropos to our operations, after-effects of operations, advance action and liquidity. We accept no intention, and abandon any obligation, to amend or alter any advanced statements, whether as a aftereffect of new information, approaching after-effects or otherwise.
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