BFH

Bread Financial Holdings, Inc., formerly Alliance Data Systems, is a consumer financial services and payments company specializing in credit cards, loyalty programs, and digital banking solutions. The company provides private label and co-brand credit cards primarily for retailers and other partners, managing all aspects including underwriting, customer service, and collections. Bread Financial operates one of the largest private label credit card businesses in America, partnering with retailers like Victoria's Secret, Kohl's, and Walgreens. The company also offers direct-to-consumer credit products under the Bread brand. Following a corporate restructuring that separated its marketing services businesses, Bread Financial focuses exclusively on credit and financial services. Headquartered in Columbus, Ohio, the company serves tens of millions of cardholders and merchant partners. Bread Financial faces challenges from intense competition, credit cycle risks, and partner concentration, with some key partners having terminated or not renewed relationships. The company is working to diversify its partner base, improve credit performance, and expand digital lending capabilities. Bread Financial continues to invest in technology platforms and customer acquisition while managing credit risks and operational efficiency.