Alliance Data Provides Update On Current Impact of COVID-19
Schedules Conference Call for Tuesday, March 24
Alliance Data Systems Corporation, a leading global provider of data-driven marketing and loyalty solutions, announced a conference call will be held on Tuesday, March 24 at 4:00 PM to discuss the following update on the current impact of COVID-19.
Ralph Andretta, president and chief executive officer of Alliance Data, commented, “Alliance Data has been closely monitoring the COVID-19 pandemic and its impact on our associates, our clients and our financial flexibility. With safety as our priority, the team has implemented work from home protocols across virtually the entire organization where feasible and has staggered shifts to accommodate our workforce and client needs. These actions and the customer-centric culture at Alliance Data have enabled us to continue to work effectively for our partners and our customers and maintain contractual service commitments. Additionally, we remain in close coordination with our clients to assist them in navigating through these difficult times.
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“It is too early to assess the full impact of the pandemic on our business, but we are well prepared for difficult times ahead. Given the current environment, we have stressed-tested our business and are confident that we have capital and liquidity to sustain and invest in our business through this period. We have substantial cash on hand, and significant liquidity reserves and low-cost borrowing capacity at both our bank subsidiaries and parent company. Also, actions taken late last year resulted in approximately $150 million of incremental savings as we entered 2020, considerably increasing our earnings power, and we continue to evaluate further areas in which we can reduce our costs, while maintaining our high levels of service. We expect to have greater visibility on the evolving impact of COVID-19 on expected full-year 2020 results at the time of our first quarter earnings conference call.
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“Alliance Data emerged from 9/11, the financial crisis of 2008 and numerous natural disasters as a stronger, leaner competitor. Our business model is resilient and has weathered considerable pressures. Our management team is highly experienced, and our portfolio is better positioned today from a risk standpoint than during previous crisis situations. Our operational strength and financial flexibility enable us to support our clients’ needs both today and in the future, and we continue to plan on making strategic investments in the business as appropriate,” Mr. Andretta concluded.
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