Alliance Data Systems, which offers marketing and loyalty solutions, has said that it has significant cash on hand to steer through the turbulent market conditions triggered by the coronavirus (Covid-19) outbreak.
After stress-testing the business, the firm also confirmed having low-cost borrowing capacity at its parent and subsidiaries.
It further stated that the measures adopted in 2019 have led to savings of around $150m in the current year.
Currently, the firm is assessing more areas to lower its expenses.
“We expect to have greater visibility on the evolving impact of COVID-19 on expected full-year 2020 results at the time of our first quarter earnings conference call,” it said.
Alliance Data has adopted various measures to prevent the spread of the pandemic such as making work-from-home arrangements where possible.
The firm said: “These actions and the customer-centric culture at Alliance Data have enabled us to continue to work effectively for our partners and our customers and maintain contractual service commitments.
“Additionally, we remain in close coordination with our clients to assist them in navigating through these difficult times.”
Ohio-based Alliance Data has operations in over 50 locations. Its staff strength is more than 8,000.
The card services business of the firm offers private label, co-brand, and business credit card programmes.