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4-Traders Homepage  >  Equities  >  Nyse  >  General Electric Company    GE

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General Electric Company : GE Capital Retail Bank and La-Z-Boy Continue Furnishing Consumer Credit Card Program

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12/20/2012 | 03:05pm CEST

Credit Card Program Available at Nearly 780 Locations Nationwide

GE Capital Retail Bank and La-Z-Boy today announced a five-year extension of their relationship to provide consumer credit card services through many of the home furnishings retailer's 781 U.S. retail locations, including 189 independent La-Z-Boy Furniture Galleries stores, 97 corporate-owned locations, and 495 independent Comfort Studios nationwide. 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."

La-Z-Boy has been one of the nation's leading manufacturers of upholstered furniture for 85 years. Today, the company offers a full range of products, including sofas, sectionals, ottomans, and accessories, along with its iconic recliners. The La-Z-Boy Card is the company's private label consumer credit card program in the U.S., providing extended terms and special financing promotions*. Customers can apply online or use in-store application kiosks for secure processing and fast credit decisions.

"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.

For more than 75 years, GE Capital has helped major retailers and more than 200,000 small- and mid-sized businesses throughout the United States build consumer financing programs that support business growth and customer satisfaction. GE Capital is a leading provider of consumer credit in the Home Furnishings industry for more than 60 years. The company supports its clients with proprietary online technology such as Business Center, which includes service, marketing and sales tools, as well as Learning Center, providing businesses with access to comprehensive training for their teams on financing for consumers.

*Subject to credit approval and availability

About La-Z-Boy

Headquartered in Monroe, Mich., La-Z-Boy has been one of the world's leading residential furniture producers for 85 years. The company manufactures a full line of comfortable products for the living room and family room, including the company's world-famous recliners, reclining sofas and love seats, sleep sofas, modular furniture and leather upholstery, as well as stationary sofas, love seats and chairs. It is a division of La-Z-Boy Incorporated (NYSE: LZB), one of the world's leading residential furniture producers, marketing furniture for every room of the home. Live life comfortably®. More information can be found at www.la-z-boy.com, @lazboycomfort and Facebook.com/lazboy.

About GE Capital's Retail Finance business

GE Capital's Retail Finance business is among the country's most successful retail lenders, with more than 75 years of experience in consumer financing. The business, with its lending entity GE Capital Retail Bank, provides customized credit programs to retailers and consumers in the United States and Canada that help drive sales. This includes private label and bankcard credit programs to major national, regional and independent retailers in the U.S., as well as private label credit programs, promotional and installment lending, bankcards and financial services for consumers through dealers; contractors; manufacturers; healthcare practices; and service providers across nearly 20 industries. We are not just bankers; we help clients build better businesses. More information can be found at www.gogecapital.com and twitter.com/GoGECapital.

GE Capital is one of the world's largest providers of credit. For over one million businesses, large and small, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. For our 100+ million consumer customers, GE Capital offers credit cards, sales finance programs, home, car and personal loans and credit insurance. For more information, visit www.gecapital.com or follow company news via Twitter @GECapital.

GE (NYSE: GE) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works. For more information, visit the company's website at www.ge.com.

©2012 General Electric Company, All rights reserved.

GE
Cristy Williams, 678-518-2596
cristy.williams@ge.com


© Business Wire 2012
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Financials ($)
Sales 2017 125 461 M
EBIT 2017 16 564 M
Net income 2017 12 050 M
Debt 2017 73 584 M
Yield 2017 3,74%
P/E ratio 2017 19,08
P/E ratio 2018 15,83
EV / Sales 2017 2,37x
EV / Sales 2018 2,07x
Capitalization 223 959 M
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Jeffrey R. Immelt Chairman & Chief Executive Officer
Daniel Janki Treasurer & Senior VP-Global Operations
Jeffrey S. Bornstein Vice Chairman & Chief Financial Officer
Jim Fowler Chief Information Officer
Victor Abate Chief Technology Officer & Senior Vice President
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