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Kmart offers Shop Your Way members no-money-down holiday layaway

BY Dan Berthiaume

Hoffman Estates, Ill. – Kmart is offering a no-money-down layaway program to members of the Shop Your Way loyalty program for the holiday season, starting Sept. 4. Kmart’s layaway program includes both online and in-store contracts for coveted items across dozens of merchandise categories, including apparel, home, toys and electronics.

Kmart is also running a new ad for the program both on TV and YouTube.

"We know it’s early, and that is exactly when smart shoppers start thinking about using layaway for the holidays," said Jai Holtz, VP and general manager financial services for Kmart parent company Sears Holdings. "Based on member feedback, we are expanding no money down layaway nationwide to help members and customers who want to make small payments over time leading up the holidays. Kmart is committed to helping our members budget their finances throughout the holidays by kicking off no money down layaway as early as possible so they can feel confident about checking everything off their lists."

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Alliance Data to provide customized card programs for Meijer

BY Dan Berthiaume

Dallas – The Retail Services business of Alliance Data Systems Corp. has signed a multi-year agreement to provide co-brand and private label credit card services for Meijer. Alliance Data will provide credit card marketing services for the Meijer store-branded credit card and the Meijer Platinum MasterCard, which will offer card members the opportunity to accrue Meijer Rewards points for every dollar spent at Meijer, Meijer gas stations and Meijer.com, as well as on all other purchases made with the card.

The accrued points allow customers to earn certificates for discounts on future Meijer purchases. Alliance Data will also work with Meijer to enhance program features designed to recognize and reward card members, and will leverage its loyalty and mobile marketing capabilities to further support one-to-one customer engagement and increase value to card members.

In addition, Alliance Data signed an agreement to acquire Meijer’s existing portfolio of co-brand and private label credit card accounts. Details of the purchase price will not be disclosed. The transaction is scheduled to close before the end of 2014, subject to customary closing conditions.

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Lowe’s to sell $1.25 billion of notes

BY Dan Berthiaume

Mooresville, N.C. – Lowe’s Companies Inc. has agreed to sell $450 million of floating rate notes due 2019, $450 million of 3.125% notes due 2024 and $350 million of 4.250% notes due 2044. Estimated net proceeds from this offering will be approximately $1.24 billion, after deducting offering expenses and underwriters’ discounts.

Lowe’s intends to use the net proceeds from the sale of the Notes for general corporate purposes. Closing is expected to occur on Sept. 10, 2014. Goldman, Sachs & Co., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the notes offering.

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