Latest news with #DiscountTire
Yahoo
23-05-2025
- Automotive
- Yahoo
Why Synchrony's Partnership Extension With Discount Tire is Important
Synchrony Financial SYF recently renewed and extended its long-standing partnership with Discount Tire, a major tire and wheel retailer in the United States. This deal ensures that customers at Discount Tire and its related brands can continue using Synchrony's Car Care network to finance tire and auto-related purchases at over 1,200 retail stores and more than a million additional locations within the Car Care network nationwide. This extension is significant because it reinforces Synchrony's position in the auto financing space. As vehicle ownership costs rise and cars stay on the road longer, more consumers are looking for ways to manage large, necessary purchases like tires. Through this partnership, SYF gives customers an easier way to afford essential auto maintenance by offering flexible financing, special promotions and convenient payment tools like Apple Pay. The move will also strengthen customer loyalty for both companies by enhancing convenience and affordability. As more customers finance big-ticket purchases like tires, Synchrony's loan volume will rise, and it stands to earn more from interest payments, especially when deferred interest promotions convert. Retaining a key partner like Discount Tire helps maintain consistent revenue streams and reduces churn risk in Synchrony's merchant base. With the card accepted at a million+ locations and being compatible with Apple Wallet, usage will continue to rise, leading to higher transaction volumes. Offering tools like a quick prequalification check without a credit score impact can drive more sign-ups, helping SYF grow its active user base and deepen customer lifetime value. These are important steps by the company, especially as its first-quarter results revealed some weaknesses. Total loan receivables of $99.6 billion slipped 2% year over year, while purchase volume fell 4% to $40.7 billion and average active accounts of 69.3 million decreased 3%. Shares of Synchrony have gained 31.5% in the past year compared with the industry's 8.2% rise. Image Source: Zacks Investment Research Synchrony currently carries a Zacks Rank #3 (Hold). Investors interested in the broader Finance space may look at some better-ranked players like Axos Financial AX, Intercorp Financial Services IFS and Oportun Financial OPRT, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. The Zacks Consensus Estimate for Axos Financial's current-year earnings witnessed three upward estimate revisions against no downward movement. It beat earnings estimates in each of the past four quarters, with an average surprise of 4.5%. The consensus mark for Axos Financial's current year revenues suggests a 5.4% jump from a year ago. The Zacks Consensus Estimate for Intercorp Financial's 2025 earnings indicates 41.6% year-over-year growth. During the past month, it has witnessed one upward estimate revision against none in the opposite direction. Intercorp Financial beat earnings estimates in each of the past four quarters, with an average surprise of 17.3%. The Zacks Consensus Estimate for Oportun Financial's current-year earnings suggests a 66.7% year-over-year increase. During the past month, it has witnessed two upward earnings estimate revisions against one in the opposite direction. The consensus mark for Oportun Financial's current year revenues is pegged at $962.4 million. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Synchrony Financial (SYF) : Free Stock Analysis Report AXOS FINANCIAL, INC (AX) : Free Stock Analysis Report Intercorp Financial Services Inc. (IFS) : Free Stock Analysis Report Oportun Financial Corporation (OPRT) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
21-05-2025
- Automotive
- Yahoo
Synchrony and Discount Tire Extend Long-Standing Partnership, Providing Drivers Nationwide with Financing Flexibility and Convenience
STAMFORD, Conn. and SCOTTSDALE, Ariz., May 21, 2025 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, and Discount Tire, a leading independent retailer of tires and wheels, have extended their more than 25-year partnership. This extension ensures Discount Tire customers continue to have access to affordable and flexible financing options for their tire purchases and automotive needs through Synchrony's Car Care network. Customers can use their Discount Tire card at more than 1,200 retail stores in 39 states including Discount Tire, America's Tire, Dunn Tire, Suburban Tire Auto Repair Centers and Ellisville Tire and Service, as well as The card is also accepted at more than one million additional locations nationwide within the Synchrony Car Care™ network, making auto-related purchases easier than ever. According to J.D. Power, tires last an average of six years or 50,000 miles and replacing tires can cost anywhere from hundreds to more than a thousand dollars, depending on type and size. The Discount Tire credit card, backed by the Synchrony Car Care network, gives customers access to exclusive financing offers to pay for tires and service, including deferred interest promotions based on their purchase amounts and special promotions. Additional cardholder perks include no annual fee and zero-dollar liability for fraud transactions. Customers can quickly see if they prequalify for the Discount Tire credit card with no impact to their credit score online. "As the age of vehicles on the road increase and maintenance costs rise, our financing solutions help drivers stay safe while managing their budgets effectively," said Curtis Howse, EVP & CEO of Synchrony Home & Auto. "Extending our partnership with Discount Tire reinforces our commitment to making tire and wheel purchases and other necessary auto purchases more accessible and affordable for millions of drivers." As a cornerstone of the Synchrony Car Care network, Discount Tire provides millions of cardholders with trusted service and financing options tailored to their needs. Cardholders also have access to a number of innovative digital payment solutions, streamlining the application and account management process. Discount Tire is currently Synchrony's only auto retailer whose credit card can be added to Apple Wallet® for seamless in-store purchases via Apple Pay®. "Our continued partnership with Synchrony is a testament to our shared commitment to making tire and wheel purchases easy, inviting, and safe for customers," said Christian Roe, Chief Revenue Officer at Discount Tire. "By expanding access to financing through Synchrony's Car Care network, we're giving customers greater flexibility to manage their vehicle expenses." About Discount TireDiscount Tire is a leading independent retailer of tires, wheels, and windshield wipers. Founded in 1960 by Bruce T. Halle, the company serves customers at more than 1,200 stores in 39 states. The company does business as Discount Tire in most of the U.S. and as America's Tire in parts of California and Pennsylvania. Treadwell, Discount Tire's proprietary online tire recommendation tool, uses decades of data and individual driving habits to recommend the right tires for each driver's unique needs. For more information, visit About SynchronySynchrony (NYSE: SYF) is a leading consumer financing company at the heart of American commerce and opportunity. From health to home, auto to retail, our Synchrony products have been serving the needs of people and businesses for nearly 100 years. We provide responsible access to credit and banking products to support healthier financial lives for tens of millions of people, enabling them to access the things that matter to them. Additionally, through our innovative products and experiences, we support the growth and operations of some of the country's most respected brands, as well as more than 400,000 small and midsize businesses and health and wellness providers that Americans rely on. Synchrony is proud to be ranked as the country's #2 Best Company to Work For® by Fortune magazine and Great Place to Work®. For more information, visit Media Contacts: Lauren Mary-Ward FreydbergDiscount Tirepressemails@ View original content to download multimedia: SOURCE Synchrony
Associated Press
21-05-2025
- Automotive
- Associated Press
Synchrony and Discount Tire Extend Long-Standing Partnership, Providing Drivers Nationwide with Financing Flexibility and Convenience
STAMFORD, Conn. and SCOTTSDALE, Ariz., May 21, 2025 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, and Discount Tire, a leading independent retailer of tires and wheels, have extended their more than 25-year partnership. This extension ensures Discount Tire customers continue to have access to affordable and flexible financing options for their tire purchases and automotive needs through Synchrony's Car Care network. Customers can use their Discount Tire card at more than 1,200 retail stores in 39 states including Discount Tire, America's Tire, Dunn Tire, Suburban Tire Auto Repair Centers and Ellisville Tire and Service, as well as The card is also accepted at more than one million additional locations nationwide within the Synchrony Car Care™ network, making auto-related purchases easier than ever. According to J.D. Power, tires last an average of six years or 50,000 miles and replacing tires can cost anywhere from hundreds to more than a thousand dollars, depending on type and size. The Discount Tire credit card, backed by the Synchrony Car Care network, gives customers access to exclusive financing offers to pay for tires and service, including deferred interest promotions based on their purchase amounts and special promotions. Additional cardholder perks include no annual fee and zero-dollar liability for fraud transactions. Customers can quickly see if they prequalify for the Discount Tire credit card with no impact to their credit score online. 'As the age of vehicles on the road increase and maintenance costs rise, our financing solutions help drivers stay safe while managing their budgets effectively,' said Curtis Howse, EVP & CEO of Synchrony Home & Auto. 'Extending our partnership with Discount Tire reinforces our commitment to making tire and wheel purchases and other necessary auto purchases more accessible and affordable for millions of drivers.' As a cornerstone of the Synchrony Car Care network, Discount Tire provides millions of cardholders with trusted service and financing options tailored to their needs. Cardholders also have access to a number of innovative digital payment solutions, streamlining the application and account management process. Discount Tire is currently Synchrony's only auto retailer whose credit card can be added to Apple Wallet® for seamless in-store purchases via Apple Pay®. 'Our continued partnership with Synchrony is a testament to our shared commitment to making tire and wheel purchases easy, inviting, and safe for customers,' said Christian Roe, Chief Revenue Officer at Discount Tire. 'By expanding access to financing through Synchrony's Car Care network, we're giving customers greater flexibility to manage their vehicle expenses.' About Discount Tire Discount Tire is a leading independent retailer of tires, wheels, and windshield wipers. Founded in 1960 by Bruce T. Halle, the company serves customers at more than 1,200 stores in 39 states. The company does business as Discount Tire in most of the U.S. and as America's Tire in parts of California and Pennsylvania. Treadwell, Discount Tire's proprietary online tire recommendation tool, uses decades of data and individual driving habits to recommend the right tires for each driver's unique needs. For more information, visit About Synchrony Synchrony (NYSE: SYF) is a leading consumer financing company at the heart of American commerce and opportunity. From health to home, auto to retail, our Synchrony products have been serving the needs of people and businesses for nearly 100 years. We provide responsible access to credit and banking products to support healthier financial lives for tens of millions of people, enabling them to access the things that matter to them. Additionally, through our innovative products and experiences, we support the growth and operations of some of the country's most respected brands, as well as more than 400,000 small and midsize businesses and health and wellness providers that Americans rely on. Synchrony is proud to be ranked as the country's #2 Best Company to Work For® by Fortune magazine and Great Place to Work®. For more information, visit Media Contacts: Lauren Devilbiss Synchrony [email protected] Mary-Ward Freydberg Discount Tire [email protected] View original content to download multimedia: SOURCE Synchrony
