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
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
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,
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.
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Cristy Williams, 678-518-2596