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SHOPPERS CHARGE ACCOUNTS REPORTS 15.5 PERCENT INCREASE IN HOLIDAY SALES FOR SPECIALTY RETAILERS IN ITS PRIVATE LABEL CREDIT CARD PROGRAM

 JERSEY CITY, N.J., Dec. 28 /PRNewswire/ -- Shoppers Charge Accounts, a company that administers private label credit card programs for independent retailers, today reported that charge card sales climbed 15.5 percent during the 1992 holiday selling season.
 The increase was based on private label credit card transactions during the Nov. 27 - Dec. 24 period at some 700 stores that were utilizing the company's program during both the 1991 and 1992 holiday seasons. This growth rate exceeded the 12.5 percent increase in overall private label charge card sales at these merchants during the trailing 12-month period ended Nov. 30.
 The Jersey City-based company primarily services apparel, jewelry, giftware and junior department stores.
 Commenting on the results, Shoppers Charge Accounts Vice President Andrew Eichenbaum noted that the gain was derived from a combination of increased transaction volume and a higher average sale during the 1992 holiday period.
 "The growth rate reflected a more concerted effort by our retailers to market to their private label charge account customers," Eichenbaum said. "Particularly pleasing was the impact of deferred billing programs at a number of our merchants during the holiday season, with increases in credit sales at some stores running as high as 61 percent."
 Eichenbaum added that, in general, retailers in parts of the Midwest and Texas realized the strongest gains during the season, while merchants in New England continued to experience sluggish sales.
 -0- 12/28/92
 /CONTACT: Andrew Eichenbaum of Shoppers Charge Accounts, 201-217-4715; or Bill Parness of Parness & Associates, 908-290-0121, for Shoppers Charge Accounts/


CO: Shoppers Charge Accounts ST: New Jersey IN: REA SU:

LR-OS -- NY016 -- 0040 12/28/92 11:46 EST
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Publication:PR Newswire
Date:Dec 28, 1992
Words:274
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