Core Insights - Bread Financial Holdings, Inc. reported a net loss rate of 8.8% for the month ended May 31, 2024, compared to 8.4% in the previous year, indicating a slight increase in losses [1][2] - The delinquency rate rose to 5.9% as of May 31, 2024, up from 5.5% a year earlier, reflecting a growing concern over credit quality [1][2] - The company’s end-of-period credit card and other loans decreased to $16,446 million in May 2024 from $16,845 million in May 2023, showing a decline in loan balances [1] Financial Performance - Average credit card and other loans for May 2024 were reported at $17,846 million, a 1% increase year-over-year from $17,666 million in May 2023 [1] - Net principal losses for May 2024 were $133 million, compared to $124 million in May 2023, indicating a rise in losses [1] - The transition of credit card processing services in June 2022 has impacted the net loss rate and delinquency metrics [2] Company Overview - Bread Financial is a tech-forward financial services company that offers personalized payment, lending, and saving solutions [3][7] - The company focuses on digitally enabled choices, providing products such as private label and co-brand credit cards, as well as buy now, pay later options [3] - Headquartered in Columbus, Ohio, Bread Financial employs approximately 7,000 associates and emphasizes sustainable business practices [11]

Program to include co-brand and private label credit cards with unique reward opportunities for cardmembers Existing Saks Fifth Avenue credit card portfolio to transition to Bread Financial COLUMBUS, Ohio, June 12, 2024 (GLOBE NEWSWIRE) -- Bread Financial (NYSE:BFH), a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions, today announced a multi-year, multi-payments product agreement with Saks Fifth Avenue, a leading name in luxury shopping. The ex ...

Ms. Lakhwara currently serves as the chief information officer (CIO) at Zscaler, a global provider of cloud security solutions where she drives a comprehensive strategy to enable and scale a seamless experience for customers and employees. Prior to becoming CIO, she was the senior vice president of information technology and applications from 2021-2022. Before joining Zscaler, Ms. Lakhwara was the chief information officer at Conga, a provider of revenue recognition software, from 2017-2021, where she was r ...

COLUMBUS, Ohio, June 11, 2024 (GLOBE NEWSWIRE) -- Bread Financial Holdings, Inc. (NYSE: BFH) today announced that Praniti Lakhwara, a seasoned information technology executive, has joined the Company's board as an independent director, effective June 10, 2024. In connection with her appointment, Ms. Lakhwara will also serve as a member of the board's Risk & Technology committee. With Ms. Lakhwara's appointment, Bread Financial's board now consists of 10 directors. Susan Haugen – Investor Relations Susan.Hau ...

COLUMBUS, Ohio, June 05, 2024 (GLOBE NEWSWIRE) -- Bread Financial Holdings, Inc. (NYSE:BFH), a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions, today announced the company's participation in the Morgan Stanley U.S. Financials, Payments & CRE Conference on Wednesday, June 12. Bread Financial EVP and Chief Financial Officer Perry Beberman will participate in a fireside chat. The fireside chat will take place at 11 a.m. ET and will be broadcast l ...

COLUMBUS, Ohio, June 04, 2024 (GLOBE NEWSWIRE) -- Bread Financial Holdings, Inc. (NYSE: BFH), a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions, will host an investor day on Tuesday, June 18 from 12 pm to 3 pm ET via live video stream. During the event, Bread Financial's executive leadership team will provide a comprehensive update on the Company's evolution, business strategy and long-term financial targets. To register for the event and to a ...

COLUMBUS, Ohio, May 30, 2024 (GLOBE NEWSWIRE) -- Bread Financial Holdings, Inc. (NYSE:BFH), a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions, today announced the company's participation in the TD Cowen Financial Services & Fintech Summit on Friday, June 7. Bread Financial EVP and Chief Financial Officer Perry Beberman will participate in a fireside chat. The fireside chat will take place at 9:10 a.m. ET and will be broadcast live here. The fi ...

Bread Financial (NYSE:BFH) is a depositor bank that specializes in consumer loans. The bank is different from some consumer lenders like OneMain Financial (OMF) who source their funds from external debt versus depositors. The lender has experienced a strong appreciation in share price over the last six months and currently sits near a 52-week high. Based on Bread's current financial performance, I believe that further upside in share price is likely. BFH's First Quarter Earnings Performance Bread Financial ...

COLUMBUS, Ohio, May 21, 2024 (GLOBE NEWSWIRE) -- Bread Financial Holdings, Inc. (NYSE: BFH) today announced that John J. Fawcett, a seasoned financial services executive, has joined the Company's board as an independent director. Mr. Fawcett was elected at the Company's Annual Meeting of Stockholders, held Tuesday, May 14, along with nominees Ralph J. Andretta, Roger H. Ballou, John C. Gerspach, Jr., Rajesh Natarajan, Joyce St. Clair, Timothy J. Theriault, Laurie A. Tucker and Sharen J. Turney, each of whom ...

"As part of our continuous board refreshment, we are pleased to welcome John Fawcett to our Board of Directors," said Ralph Andretta, president and CEO, Bread Financial. "Mr. Fawcett brings more than 40 years of executive banking and financial services expertise in all aspects of finance, particularly with respect to accounting, international operations and business operations, and we know his extensive experience will benefit our company and the Board's overall mix of expertise." After a 20-year career at ...