LYLT - Loyalty Ventures to pause loyalty campaigns for Russian grocery chain clients

Loyalty Ventures (NASDAQ:LYLT) has taken steps to pause business in Russia, but will honor its commitments to current programs with Russian grocery chain clients in fulfillment of contractual obligations. LYLT does not plan to offer new loyalty campaigns there for the time being. A vast majority of products LYLT uses for its campaign-based loyalty solutions in Russian grocery stores are sourced internationally. None of the rewards for loyalty campaigns outside of Russia are sourced from Russian suppliers. For 2022, LYLT projects that its decision to pause its loyalty campaigns for Russian grocery chains will result in lost revenues of ~$16M.

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Loyalty Ventures to pause loyalty campaigns for Russian grocery chain clients