GE, La-Z-Boy Extend Credit Card Agreement

December 19, 2012  by in UnCategorized   

By Home Furnishings Business in Business Strategy on December 20, 2012

GE Capital Retail Bank (NYSE: GE) and home furnishings supplier La-Z-Boy (NYSE: LZB) have signed a five-year extension of their relationship to provide consumer credit card services.

The credit card services will be through many of La-Z-Boy's 781 U.S. retail locations, including 189 independently owned La-Z-Boy Furniture Galleries, 97 corporate owned locations and 495 independent Comfort Studios.

GE Capital Retail Bank provides financial solutions to retailers to help grow their customer sales and will continue to service the account and manage the La-Z-Boy relationship, which began in 2007.

"La-Z-Boy is pleased to continue working with GE Capital and building on the program growth we've achieved throughout the relationship," said Doug Collier, chief marketing officer and president international for La-Z-Boy. "Their strong approval rates and credit lines enable our customers to complement their homes and lives with beautiful home furnishings."

"GE Capital has nearly eight decades of experience helping businesses build sales and customer loyalty through special financing solutions, and we are pleased to continue working with La-Z-Boy on their successful credit card program," said Darrell Owens, vice president, home furnishings, GE Capital's Retail Finance business.