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O Alliance Data ™ Net income of $ 224 million , or $ 4.47 per diluted share Third quarter credit sales up 20 % , supporting expectations for continued receivables growth o Strategic transformation continues as spinoff of LoyaltyOne® segment as Loyalty Ventures Inc. is expected on November 5th , significantly improving Alliance Data's capital ratios and other key metrics O Alliance Data Reports Third Quarter 2021 Results Recent agreement with Sezzle leverages Bread's fintech payments platform for installment lending across Sezzle's over 40,000 merchant network COLUMBUS , Ohio , October 28 , 2021 - Alliance Data Systems Corporation ( NYSE : ADS ) , a leading provider of data - driven marketing , loyalty and payment solutions , today announced results for the quarter ended September 30 , 2021 . " Alliance Data's third quarter performance demonstrates considerable operating progress . Net income improved year - over - year and pre - tax pre - provision earnings increased substantially both year - over - year and sequentially , in line with strong credit sales and reduced expense levels , " said Ralph Andretta , president and chief executive officer of Alliance Data . " At the same time , we continued to move forward with the transformation of our company and are demonstrating how the investments we have made and continue to make drive our future growth . " " Credit sales remained strong in the third quarter as we saw improving performance across our brand partners , which more than offset a previously announced portfolio sale in the third quarter . We saw positive momentum building in the LoyaltyOne segment as campaign activity picked up late in the quarter for BrandLoyalty , and AIR MILES® reward miles redeemed improved to the highest level since the pandemic began . " Our net loss rate was particularly low in the third quarter , and our delinquency rate remained below historic levels . We expect credit metrics and payment rates to continue to moderate into 2022 as stimulus programs wind down . We continue to monitor uncertainties in the market and remain confident that our full suite of product offerings , combined with our disciplined risk management , will enable us to drive responsible , profitable growth in the periods ahead . " The upcoming spinoff of our LoyaltyOne segment concludes a multi - year Board initiative to simplify Alliance Data's business model and strengthen our enterprise - level capital metrics . At the spin - off date , which is expected to be November 5 , 2021 , Alliance Data will retain a 19 % ownership in , and expects to receive a $ 750 million cash distribution from Loyalty Ventures Inc. , which we will use for deleveraging . The spin is expected to provide a significant improvement in Alliance Data's capital metrics . Loyalty Ventures will have the opportunity to focus on its own unique strategic priorities and make meaningful investments to drive growth and efficiencies . We are excited about the prospects for both businesses and the long - term potential of each of the companies . " Mr. Andretta continued , “ Our recently announced strategic relationship with Sezzle provides another way to capitalize on the versatility of Bread's fintech payments platform to open new opportunities for expansion outside of our direct distribution network . Sezzle's over 40,000 merchants will be able to leverage our digital offerings to provide their consumers with additional flexible installment payment solutions for big ticket purchases . We will continue to expand Bread's direct merchant partners while enlisting existing Alliance Data retail card partners to launch on Bread's platform . The business development pipelines across our offerings remain robust , and our focus on portfolio optimization will continue to drive profitability and growth into 2022 and beyond .