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STAMFORD, Conn. - Synchrony (NYSE: SYF), a $22.47 billion market cap financial services company with a P/E ratio of 7.99, and Jewelers Mutual have entered into a sponsorship agreement to offer integrated financing and insurance services to jewelry retailers, aiming to enhance customer purchasing experiences. According to InvestingPro data, Synchrony has demonstrated strong financial performance with $8.7 billion in revenue over the last twelve months. This collaboration will allow jewelry merchants to present Synchrony’s financing solutions alongside Jewelers Mutual’s insurance coverage options through marketing materials and the Zing Marketplace platform.
Darrell Owens, CEO of Lifestyle at Synchrony, emphasized the benefit to retailers, stating that the partnership enables them to offer affordable purchase options and inform customers about protecting their valuable jewelry. Jewelers Mutual will incorporate Synchrony’s financing options into its Zing Marketplace, which provides jewelers with tools such as web pages, a diamond marketplace, and a jewelry appraisal solution.
In turn, Synchrony will promote Jewelers Mutual’s insurance services to merchants and consumers through Synchrony Marketplace, a shopping destination featuring offers from Synchrony partners. The initiative is designed to raise awareness of Jewelers Mutual’s insurance services, which are currently utilized by over one million customers across the United States and Canada.
Mike Alexander, Chief Operating Officer of Jewelers Mutual, expressed enthusiasm for the added value the partnership with Synchrony will bring to both jewelers and their customers, highlighting the commitment to delivering seamless customer experiences.
Synchrony’s financing is already used by more than 4,000 jewelry retailers nationwide, and the company remains dedicated to providing small and medium-sized businesses with financing options to help them grow and offer customers greater purchasing power. The company’s strong market position is reflected in its financial health, earning a "GOOD" overall rating from InvestingPro, which offers comprehensive analysis through its Pro Research Report, available for over 1,400 US stocks.
Jewelers Mutual, with a history dating back to 1913, has been rated "A+ Superior" by AM Best Company for 38 consecutive years as of November 2024 and continues to innovate with digital technology solutions to support the jewelry industry. Meanwhile, Synchrony has maintained its own impressive track record, offering a 2.03% dividend yield and maintaining dividend payments for 10 consecutive years. InvestingPro analysis reveals 8 additional key insights about Synchrony’s financial outlook and market position.
This partnership is based on a press release statement and reflects the companies’ efforts to support jewelry retailers in enhancing customer service and sales.
In other recent news, Synchrony Financial has reported strong financial results for the first quarter of 2025, surpassing analysts’ expectations. The company achieved an earnings per share of $1.89, exceeding the forecasted $1.67, and reported revenue of $4.46 billion, well above the anticipated $3.79 billion. Synchrony also announced the renewal of partnerships with major brands such as Sun Country Airlines and Ashley Furniture, contributing to its robust performance despite a challenging economic environment. The company’s net earnings reached $757 million, though net revenue saw a year-over-year decline of 23% to $3.7 billion, and ending loan receivables decreased by 2% to $100 billion.
In addition to its financial performance, Synchrony Financial is navigating the competitive landscape of the Buy Now/Pay Later (BNPL) market. A recent analysis by Citizens JMP highlighted that Synchrony is effectively managing competition, with its in-house BNPL platform gaining traction among retail partners. Approximately 20% of surveyed partners have integrated Synchrony’s BNPL option, which includes a significant partnership with Lowe’s. Meanwhile, analysts from Citizens JMP remain constructive on Synchrony, suggesting that the company’s broad product suite and strategic partnerships continue to enhance customer conversion for its partners.
Furthermore, Synchrony Financial received a credit rating upgrade from Fitch, moving its long-term issuer default rating to BBB with a stable outlook. This upgrade reflects the company’s strong balance sheet and resilient business model. Additionally, Synchrony announced a new share repurchase authorization of $2.5 billion and increased its regular quarterly dividend by 20% to $0.30 per common share, indicating confidence in its capital position and future growth prospects.
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