Alliance Data Systems Corp. reported chargeoffs for private-label credit cards the company oversees were down a tick in June and delinquencies were flat from the year-ago period.
Chargeoffs also were lower for the second quarter ended June 30.
For the month of June, the chargeoff rate was 4.5% last month, down from 4.7% a year earlier and from 4.8% in May. For the quarter, chargeoffs were off at 4.6% from 4.9% a year earlier.
Alliance Data oversees private-label credit cards accounts for retailers such as Ann Taylor, Pottery Barn and Victoria's Secret. The company has posted strong results lately as credit quality and credit card sales improved.
Alliance Data in April reported first-quarter earnings rose 12% as another strong performance in its core private-label credit-card business helped lift the quarterly revenue above $1 billion for the first time. The company plans to release its second-quarter results July 30.
