WU Renews Pact With Safeway - Analyst Blog
10 1월 2013 - 11:30PM
Zacks
Leading money transfer company, Western Union Co. (WU), has
renewed its agreement with Safeway Inc. (SWY), one of the largest
food and drug retailers in North America.
Per the renewed contract which has a span of five years, the money
transfer company will continue to provide its Western Union global
money transfer services to the latter. In addition to this, Safeway
will also use Western Union money order and consumer bill payment
services in the U.S. from this year.
Western Union holds a solid reputation in the money transfer market
and has a wide global network of more than 5,000 agents. Partnering
with the company will enable Safeway to enhance service to its
customers.
Western Union is a leader in a growing market with a strong global
brand, a large and growing agent network, a global organization
with best payment capabilities and local market expertise.
Of late the company has faced regulatory issues in Mexico and Latin
America. It has also been facing declining pricing for remittance
service in some international markets, with related loss of market
share.
Nevertheless, in order to maintain growth amidst competitive market
conditions, Western Union has taken a series of strategic growth
steps. These include improved customer value proposition, digital
channel growth and implementing productivity and cost saving
initiatives.
Western Union is scheduled to report fourth quarter and full year
earnings on Feb, 12, 2013. The Zacks Consensus Estimates earnings
of 35 cents per share compared to 40 cents per share reported in
the year ago quarter.
Western Union currently retains a Zacks Rank #3 (Hold). We are also
maintaining our long-term Neutral recommendation on its shares.
Peer Moneygram International Inc. (MGI), also currently retains a
Zacks Rank #3 (Hold).
MONEYGRAM INTL (MGI): Free Stock Analysis Report
SAFEWAY INC (SWY): Free Stock Analysis Report
WESTERN UNION (WU): Free Stock Analysis Report
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Zacks Investment Research
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