Synchrony and The Container Store Extend Consumer Financing Partnership

Private Label Credit Card to Integrate with Mobile Check-Out Capabilities

STAMFORD, Conn. and COPPELL, Texas, June 8, 2023 /PRNewswire/ -- Synchrony (NYSE: SYF), a premier consumer financial services company, and The Container Store Group, Inc. (NYSE: TCS), the leading specialty retailer of organizing solutions, custom spaces, and in-home services, today announced an expansion and extension of their consumer financing partnership. The multi-year agreement will include integration of a digital private-label credit card and mobile wallet into The Container Store's mobile app check-out capabilities.

The Container Store's credit card can be used in conjunction with its Organized Insider loyalty program, allowing cardholders to receive exclusive offers and benefits when they shop with The Container Store credit card. Existing cardholders and new customers will continue to receive offers for special financing, including deferred interest financing with a variety of term options (with minimum monthly payments required, subject to credit approval), plus additional benefits and savings of the newly enhanced card program. The Container Store customers can also check if they prequalify for credit with no impact to their credit score and apply for the card directly from their personal devices.

"We are committed to offering our customers the best retail and purchasing experience. By partnering with Synchrony, we are making it fast and easy to provide shoppers with more benefits and flexible financing to meet all budget needs," said Jeff Miller, Chief Financial Officer, The Container Store. "We aim to seamlessly offer our customers the financing options they need and deliver the rewards they deserve."

"The Container Store shoppers value custom solutions – from closet organization to tailor-made living spaces – and that's exactly what we at Synchrony seek to offer. A unique financing program that meets the needs of our partners and their customers," said Darrell Owens, Senior Vice President, Synchrony. "We look forward to continuing to innovate alongside The Container Store to serve their customers and make their home organizing solutions a reality."

About The Container Store
The Container Store Group, Inc. (NYSE: TCS) is the nation's leading specialty retailer of organizing solutions, custom spaces, and in-home services – a concept they originated in 1978. Today, with locations nationwide, the retailer offers more than 10,000 products designed to transform lives through the power of organization Visit www.containerstore.com for more information about products, store locations, services offered and real-life inspiration.

About Synchrony
Synchrony (NYSE: SYF) is a premier consumer financial services company delivering one of the industry's most complete digitally-enabled product suites. Our experience, expertise and scale encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our "partners." We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences. We offer the right financing products to the right customers in their channel of choice. For more information, visit www.synchrony.com and Twitter: @Synchrony.

Contacts

Lauren Devilbiss
Synchrony
[email protected]
240-814-5825

Katelyn Clinton
The Container Store Group, Inc.
[email protected]
972-538-6000

SOURCE Synchrony