American Express spending more to attract cardholders, says CEO
New York
AMERICAN Express Co, the biggest US credit card issuer by purchases, is spending more money to attract cardholders and actively seeking retail partners as it works "with a great sense of urgency" to improve results, chief executive officer Ken Chenault told shareholders.
AmEx has "ramped up spending on cardmember acquisition", he said at the company's annual meeting in New York, while conceding that 2015 was a "disappointing" year for investors. He didn't elaborate on the firm's spending.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Consumer & Healthcare
Holiday Inn owner IHG’s Q1 revenue up 2.6%, leisure travel demand remains strong
WSJ moves Asia headquarters from Hong Kong to Singapore
South Korea to slap fines on food suppliers for ‘shrinkflation’
Olam outbids Dreyfus’ sweetened deal for Australia’s Namoi, raises offer to A$0.66 per share
Live Nation’s revenue beats estimates as boom in concerts drive ticket sales
Jim Beam owner bets on canned vodka cocktails to double revenue