MCLEAN, Va.--(BUSINESS WIRE)--May 15, 2014--
Kohl’s Department Stores (NYSE: KSS) and Capital One Financial
Corporation
(NYSE: COF) today announced a multi-year extension of their
private label credit card program agreement. The contract extension with
Kohl’s enables c onsumers to have expanded buying power and solidifies an
already strong partnership. Kohl’s high product standards and the
company’s focus on customer service extends through its private label
credit card program which offers cardholders access to exclusive offers,
guaranteed savings and online payment services.
“The Kohl’s credit program is an important element of our engagement
with our most loyal customers, and our strong partnership with Capital
One helps us manage these valuable relationships,” said Kevin Mansell,
Kohl’s chairman, CEO and president. “We chose to partner with Capital
One in 2011 because of their financial strength and our shared
commitment to driving profitable sales and creating lasting
relationships with our Kohl's card holders. The results over the first
three years of our partnership have only confirmed that choice. Capital
One's strategic, analytical approach makes them a perfect partner for
Kohl's from both a cultural and financial perspective. Although the term
of our agreement wasn't scheduled to expire for several years, we wanted
to extend it even further so we could continue to focus together on
long-term growth initiatives.”
“Our partnership with Kohl’s shows how a card program can be a great
strategic asset for our partners, enabling sales and delivering great
value, loyalty and an exceptional customer experience,” said Richard D.
Fairbank, Chairman and Chief Executive Officer of Capital One. “The
Kohl’s partnership is a perfect example of the kind of opportunity we
see in the Partnerships business, where success comes from selectively
working with outstanding partners who are motivated to build a franchise
that delivers great value to their customers. Moving several years early
to extend this partnership is an indication of the success we are
already achieving together.”
Capital One’s long-term partnership with Kohl’s reinforces the company’s
commitment to grow its Credit Card Partnership business. With operations
based in Illinois and Virginia, Capital One’s Partnership division is a
leading provider of retail and co-brand payment solutions for some of
the nation’s most influential companies.
About Capital One
Capital One Financial Corporation (www.capitalone.com)
is a financial holding company whose subsidiaries, which include Capital
One, N.A., and Capital One Bank (USA), N. A., had $208.3 billion in
deposits and $290.5 billion in total assets as of March 31, 2014.
Headquartered in McLean, Virginia, Capital One offers a broad spectrum
of financial products and services to consumers, small businesses and
commercial clients through a variety of channels. Capital One, N.A. has
more than 900 branch locations primarily in New York, New Jersey, Texas,
Louisiana, Maryland, Virginia and the District of Columbia. A Fortune
500 company, Capital One trades on the New York Stock Exchange under the
symbol "COF" and is included in the S&P 100 index.
About Kohl's
Kohl’s (NYSE: KSS) is a leading specialty department store with 1,160
stores in 49 states. With a commitment to inspiring and empowering
families to lead fulfilled lives, the company offers amazing national
and exclusive brands, incredible savings and inspiring shopping
experiences in-store, online at Kohls.com and
via mobile devices. Committed to our communities, Kohl’s has raised more
than $257 million for children’s initiatives nationwide through its
Kohl’s Cares® cause merchandise program, which operates under
Kohl's Cares, LLC, a wholly-owned subsidiary of Kohl's Department
Stores, Inc. For additional information about Kohl’s philanthropic and
environmental initiatives, visit www.Kohls.com/Cares. For
a list of store locations and information, or for the added convenience
of shopping online, visit www.Kohls.com.
Connect with Kohl’s:
Facebook (http://www.facebook.com/Kohls)
Twitter
(http://twitter.com/Kohls)
Google+ (http://plus.google.com/+Kohls)
Pinterest
(http://pinterest.com/Kohls)
Instagram
(http://instagram.com/Kohls)
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20140515005803/en/
Source: Capital One Financial Corporation
Capital One Financial Corporation
Chris O’Neill, 804-284-5433
chris.oneill@capitalone.com