The Container Store Launches Customer Financing Through Private Label Credit Card Program

DALLAS–(BUSINESS WIRE)–The Container Store® (NYSE:TCS), the nation’s leading retailer of
storage and organization products, today announced the launch of
customer financing through its private label credit card program with
Synchrony Financial, a premier consumer financial services company with
more than 80 years of retail heritage.

The Container Store Credit Card will provide financing options for the
purchase of the retailer’s more than 11,000 products, customized variety
of services and organization solutions such as custom closets, including
its new, luxury TCS Closets® collection and its popular
elfa® closet system. Cardholderscan
enjoy special financing offers and online and mobile account management.

The Company is launching the program with these special financing
options:

  • No Interest if Paid in Full within 12 Months on purchases of $500 or
    more
    (minimum monthly payments required, subject to credit
    approval) *
  • No Interest for 24 Months on purchases of $3,000 or more
    (24
    equal monthly payments required, subject to credit approval) *

“We are excited to offer our customers the convenience and flexibility
of our new The Container Store Credit Card,” said Melissa Reiff, CEO,
The Container Store. “Financing options are yet another way we can
provide a comprehensive shopping experience for our busy, time-starved
customers. Whether it’s that luxurious master closet they’ve been
dreaming about, or that garage project they’ve been delaying, our
customers will now have more opportunities for us to help them fulfill
their storage and organization needs. Additionally, we believe the
program will further deepen our engagement with our customers.”

Shoppers spend 68 days, on average, researching both a major purchase
and the availability of financing, according to Synchrony Financial’s
Fourth Annual Major Purchase Consumer Study.** Of
cardholders surveyed, 75 percent said they always seek promotional
financing when making a large purchase. The study also confirmed that
the in-store experience is important in all major purchase decisions,
with an overwhelming majority of shoppers buying in person.

Customers can apply for The Container Store Credit Card in all of the
retailer’s stores, via their personal mobile device or by visiting
containerstore.com/credit-card.

*Subject to terms and conditions.

**Synchrony Financial’s Fourth Annual Major Purchase Consumer
Study, conducted by a third-party, reflects the average experience of
consumers making purchases valued at $500+.

About The Container Store

The Container Store (NYSE: TCS) is the nation’s leading retailer of
storage and organization products and the only retailer solely devoted
to the category. The company originated the concept of storage and
organization of retailing when it opened its first store in 1978. Today,
the retailer has 80 store locations nationwide that each average 25,000
square feet. The Container Store has over 11,000 products – many of them
multifunctional – to help customers save space and, ultimately, save
them time. Since its inception, the retailer has nurtured an
employee-first culture and couples its one-of-a-kind product collection
with a high level of customer service delivered by its highly trained
organization experts. The Company has been named to FORTUNE magazine’s
100 Best Companies To Work For® 17 years in a row. Visit www.containerstore.com
for more information about store locations, the product collection and
services offered and the retailer’s new lifestyle blog, Container
Stories (containerstore.com/blog). To find out more about The Container
Store’s unique culture, Foundation Principles and devotion to Conscious
Capitalism, visit the retailer’s culture blog at www.whatwestandfor.com
or read Chairman & Co-Founder Kip Tindell’s book UNCONTAINABLE: How
Passion, Commitment, and Conscious Capitalism Built a Business Where
Everyone Thrives (available at The Container Store, www.uncontainable.com
and anywhere books are sold).

About Synchrony Financial

Synchrony Financial (NYSE: SYF)
is one of the nation’s premier consumer financial services companies.
Our roots in consumer finance trace back to 1932, and today we are the
largest provider of private label credit cards in the United States
based on purchase volume and receivables.*** We provide a
range of credit products through programs we have established with a
diverse group of national and regional retailers, local merchants,
manufacturers, buying groups, industry associations and healthcare
service providers to help generate growth for our partners and offer
financial flexibility to our customers. Through our partners’ over
350,000 locations across the United States and Canada, and their
websites and mobile applications, we offer our customers a variety of
credit products to finance the purchase of goods and services. Synchrony
Financial offers private label and co-branded Dual Card
credit cards, promotional financing and installment lending, loyalty
programs and FDIC-insured savings products through Synchrony Bank. More
information can be found at www.synchronyfinancial.com,
facebook.com/SynchronyFinancial,
www.linkedin.com/company/synchrony-financial
and twitter.com/SYFNews.

***Source: The Nilson Report (May 2016, Issue # 1087) – based
on 2015 data.

Contacts

The Container Store
Casey Shilling, 972-538-6621
pr@containerstore.com