American Express has reached an agreement with Sam's Club that will bring Amex cards to all of the warehouse club's outlets starting Oct. 1. The Wal-Mart Stores Inc.-owned Sam's Club has more than 650 outlets in the U.S. and Puerto Rico, it said in a statement. Amex shares were rattled in March, when Sam's Club rival Costco Wholesale Corp. ended their exclusive contract, choosing instead to go with Citigroup Inc. and Visa Inc. Amex shares were not yet active in premarket trade, but are down almost 20% in the year so far, while the Dow Jones Industrial Average has lost 8.8%.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below