Brief: Loyalty Ventures Says Its Air Miles Reward Program Segment And Air Miles' Sponsor Were Unable To Align On Extension Terms

Loyalty Ventures

08/06/2022 12:34

June 8 (Reuters) - Loyalty Ventures Inc  LYLT.O :
    * LOYALTY VENTURES INC-  ITS AIR MILES REWARD PROGRAM
SEGMENT AND
AIR MILES' SPONSOR, SOBEYS WERE UNABLE TO ALIGN ON EXTENSION
TERMS
    * LOYALTY VENTURES-  ON JUNE 7 SOBEYS PROVIDED NOTICE OF ITS
INTENT TO EXIT  PROGRAM ON A REGION-BY-REGION BASIS, BETWEEN
AUGUST 2022 AND Q1 OF 2023
    * LOYALTY VENTURES INC- WILL RE-EVALUATE ITS 2022 REVENUE
AND
EBITDA GUIDANCE
    * LOYALTY VENTURES INC- EXPECTS THAT PRIMARY IMPACT OF
SOBEYS EXIT
WILL BE ON NUMBER OF AIR MILES REWARD MILES ISSUED IN 2022

Source text for Eikon: [https://bit.ly/3Muknkg]
Further company coverage:  LYLT.O 

 ((Reuters.Briefs@thomsonreuters.com;))