Yahoo Finance Synchrony to Provide Financial Services for Qurate Retail
Synchrony Financial SYF has announced about its new long-term agreement to strengthen its consumer financing and credit relationship with Qurate Retail Group, a leading company in social, video and digital commerce.
In August 2019, Qurate Retail’s $2.3-billion interactive multi-channel retailer, HSN, elected Synchrony to be the provider of private label credit card services. HSN is going to replace its present financing provider with Synchrony, which is known to provide enriched customer experience and data insights. This deal brings together Qurate Retail’s advanced services in social, digital and video commerce, and Synchrony’s marketing, credit, data and technology capabilities.
Moreover, the company announced about the multi-year extension of its on-going deals with other Qurate Retail brands namely QVC and zulily. The relationship with QVC dates back to 2005 and the company has been working with zulily since 2017.
This deal is an addition to Synchrony’s strategy to invest in data analytics and mobile technologies to help its partners cater to the evolving needs of customers. Synchrony intends to enhance its embedded cross-functional team to boost unique services and products across Qurate Retail.
This year, the company completed more than 35 new credit collaborations in e-commerce, retail and healthcare industries, and extended 50 partner programs in various growth industries.
Shares of this Zacks Rank #3 (Hold) company have lost nearly 41%, wider than its industry’s decline of 28.9% in a year’s time.
Stocks to Consider
Investors looking for a few better-ranked stocks in the same sector may consider On Deck Capital, Inc. ONDK, Euronet Worldwide, Inc. EEFT and TCG BDC, Inc. CGBD.
On Deck Capital operates as an online platform for small business lending in the United States, Canada and Australia. It managed to deliver positive results in three of the trailing four quarters, the average beat being 109.47%. The company currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Euronet provides payment and transaction processing, and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company currently carries a Zacks Rank #2 (Buy). It came up with average four-quarter positive surprise of 0.94%.
TCG BDC is a non-diversified closed-end investment company. It currently has a Zacks Rank of 2. The company managed to pull off average four-quarter earnings surprise of 5.63%.
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