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Press Release
Casual Male Renews Partnership with HSBC Retail Services
9 February 2005
PROSPECT HEIGHTS, Ill. -- February 9, 2005 -- HSBC - North America announced today that its retail services business has signed Casual Male Retail Group, Inc. (NASDAQ: CMRG) to another multi-year, private-label financing agreement, extending their current seven year relationship. Casual Male is the largest specialty retailer of men's big and tall apparel.
Under the new agreement, HSBC Retail Services will also manage the private label credit program for Rochester Big & Tall, which Casual Male acquired in November 2004. Previously, Rochester Big & Tall managed its own private label credit program.
Cardholders may use their "THINKBIG" Guest Card to make purchases in-store, online or via catalog, while benefiting from quick credit decisions, exclusive offers and a points-based rewards program -- THINKBIG® REWARDS. Customers earn one point per dollar charged, and after accumulating 500 points, customers receive a $25 Rewards Certificate redeemable for merchandise. The new Rochester Big & Tall private label credit card program will be similar to the Casual Male program.
"Our extended agreement is a testament to the success of our partnership with the fine team at Casual Male," said Dick Klesse, managing director of business development and client relations for HSBC’s retail services business. "The opportunity to extend our successful private label partnership with Rochester Big & Tall is the greatest compliment a partner can receive. We look forward to working closely with our partners to execute on our brand promise as the leading private label credit card provider."
"Our HSBC private label credit card has been extremely well received by our Casual Male customers, who enjoy the benefits of a loyalty program, credit available to purchase apparel, discount coupons and a 10% discount on the first purchase," said Dennis Hernreich, chief operating officer and chief financial officer for Casual Male. "We believe our Rochester customers will also appreciate the benefits of the program."
About Casual Male Retail Group, Inc.
CMRG, the largest retailer of big and tall men's apparel with retail operations throughout the United States, London, England and Canada, operates 496 Casual Male Big & Tall stores, the Casual Male e-commerce site, Casual Male catalog business, 13 Casual Male at Sears-Canada stores and 22 Rochester Big & Tall stores and a direct to consumer business. The Company is headquartered in Canton, Massachusetts, and its common stock is listed on the Nasdaq National Market under the symbol "CMRG."
About HSBC Retail Services
HSBC Retail Services is a leading issuer of private label (merchant branded) credit cards in the United States. This business provides flexible, customized credit card solutions for the world’s premier retailers and manufacturers and has over 60 active merchant relationships, including Best Buy, Levitz Furniture and Saks Fifth Avenue.
About HSBC - North America
HSBC - North America comprises all of HSBC's U. S. and Canadian businesses, including the former Household businesses. The company’s businesses serve more than 60 million customers in five key areas: personal financial services, consumer finance, commercial banking, private banking and corporate investment banking and markets. Financial products and services are offered under the HSBC, HFC and Beneficial brands.
Media Contacts
- Kathleen Morrison
- kathleen.a.morrison@us.hsbc.com
- Director, Group Public Affairs
- HSBC - North America
- (847) 564-6111
