The US department store chain has struggled to cope with the rise of online shopping and in particular the might of e-commerce giant Amazon. It is hoping for a boost from its partnership with Klarna, which is popular with younger shoppers because it allows them to receive goods and return them before paying for them.
Sebastian Siemiatkowski, Klarna’s chief executive, told the Financial Times that the Swedish group had “good tailwinds in the US right now”. He added: “We have a number of other major merchants going live shortly, so we need to continue on this path now. We do see a very tangible shift in the US market. We honestly had spent a long time talking to some of these retailers and they were good conversations but often slow, now suddenly they are very focused and decisions are being made.”