Hudson’s Bay announces credit card deal with GE

Toronto Hudson ’s Bay Company will sell its private label credit card business and related financial services assets to GE Money (a Canadian unit of General Electric) for $370 million; GE Money will operate the credit programs in a 10-year alliance that will provide recurring revenue to the retailer.

The Hudson ’s Bay private label credit card program boasts some 3.1 million cardholders.

Hudson ’s Bay president and ceo George Heller said the company “has secured an upfront cash payment that represents a premium over the book value of this asset, in addition to significant on-going annual cash payments. We have also established the opportunity to add an impressive suite of financial products and services to ensure incremental benefits and value to existing and future HBC customers.”

Home & Textiles Today Staff | News & Commentary

 Home Textiles Today is the market-leading brand covering the home and textiles markets, offering a comprehensive package of print and online products. Home & Textiles Today provides industry news, product trends and introductions, exclusive industry research, consumer data, store operations solutions, trade show news and much more.

Featured Video

  • The Countdown to the ICON Honors Continues featuring Christophe Pourny

    Camera Icon More Videos


HTT digital edition

See the May 2017 issue of Home & Textiles Today. In this issue, we discuss our annual Market Basket survey, which finds higher prices and more polyester at leading retailers. See details!