Synchrony Financial Extends Tie-Up With P.C. Richard & Son

Synchrony Financial SYF recently announced the extension of its exclusive multi-year consumer financing program for P.C. Richard & Son. With this collaboration, consumers will be able to enjoy financing options at as many as 66 P.C. Richard & Son locations and  

Since 1986, P.C. Richard & Son customers have gained from Synchrony Financial’s branded store credit card and its promotional financing options for all primary transactions on appliances, electronics and mattresses. This alliance also consists of marketing analytics and mobile technologies to enrich customer experience. Precisely, both companies teamed up on marketing and loyalty programs plus branded mobile application for payments as well as purchases.

This provides customers with accessibility to shop online, receive special promotions and offers and even service their credit cards on the P.C. Richard & Son mobile application.

Notably, Synchrony Financial will benefit from P.C. Richard & Son’s excellent customer services and unique shopping experience.

The company has been making concerted efforts to pursue strategic buyouts and tie-ups for business boost. Last June, the company acquired Loop Commerce, a provider of digital and in-store gifting services to enhance its digital capabilities. Following this acquisition, in July, the company closed the purchase of the U.S.

PayPal Credit financing program, which helped strengthen its position. Also, renewal of partnerships with Sam's Club, Qurate Retail Group, Google, eBay, CareCredit network and Amazon among others positions the company well for growth. The company has been successful in revising more than 50 current collaborations and inking 35 new business deals in fourth-quarter 2018. Of late, it also bought Pets Best to drive its CareCredit platform. All these integrations aim at diversifying the company’s business lines to add stimulus to its competitive edge.

Shares of this Zacks Rank #3 (Hold) company have inched up 0.30% in a year’s time against the industry's decline of 6%.

Stocks to Consider

Investors interested in the finance sector can look into some better-ranked stocks like Virtu Financial, Inc. VIRT, Fidelity National Information Services, Inc. FIS and Euronet Worldwide, Inc. EEFT. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Virtu Financial provides market making and liquidity services to the financial markets around the globe. The company has a Zacks Rank #2 (Buy) and came up with average trailing four-quarter positive surprise of 0.63%.

Fidelity National Information works as a financial services technology company worldwide. It has a Zacks Rank #1. The company managed to deliver an earnings surprise in all the previous four quarters, the average being 2.72%.

Euronet provides payment and transaction processing and distribution solutions worldwide. It carries a Zacks Rank of 2. The stock pulled off average four-quarter beat of 2.68%.

Zacks' Top 10 Stocks for 2019

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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