<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
________________
FORM 8-K
CCURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): JANUARY 15, 1998
PROFFITT'S CREDIT CARD MASTER TRUST
-----------------------------------
(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
NOT APPLICABLE 333-28811-01 NOT APPLICABLE
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(STATE OR OTHER (COMMISSION (IRS EMPLOYER
JURISDICTION OF FILE NUMBER) IDENTIFICATION NO.)
INCORPORATION)
P.O. BOX 20080, JACKSON, MISSISSIPPI 39289
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(ADDRESSES OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)
(601) 968-4400
---------------------------------------------
(REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE)
<PAGE>
ITEM 5. OTHER EVENTS.
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Proffitt's, Inc., as Servicer under the Proffitt's Credit Card Master
Trust, distributed the Monthly Certificateholders' Statement for the month of
December 1997, to the Series 1997-2 Certificateholders on January 15, 1998.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION, AND EXHIBITS.
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(c) Exhibits.
The following exhibits are filed herewith:
Exhibit No. Description
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99.1 Series 1997-2 Monthly Certificateholders' Statement for
the month of December 1997
-2-
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PROFFITT'S, INC., AS SERVICER UNDER THE
PROFFITT'S CREDIT CARD MASTER TRUST
(Registrant)
/s/ Douglas E. Coltharp
--------------------------------------
Douglas E. Coltharp
Executive Vice President and
Chief Financial Officer
Date: January 15, 1998
-3-
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit
-------
99.1 Series 1997-2 Monthly Certificateholders' Statement for the
month of December 1997
<PAGE>
Exhibit 99.1
Series 1997-2 Monthly Certificateholders' Statement for the month of December
1997
<PAGE>
EXHIBIT 99.1
Monthly Certificateholder's Statement
Proffitt's Credit Card Master Trust
Series 1997-2
Pursuant to the Master Pooling and Servicing Agreement dated as of August 21,
1997 (as amended or supplemented, the "Pooling and Servicing Agreement"), as
supplemented by the Series 1997-2 Supplement, dated as of August 21, 1997 (the
"Supplement" and together with the Pooling and Servicing Agreement, the
"Agreement") each between Proffitt's Credit Corporation, as Transferor,
Proffitt's, Inc., as Servicer, and Norwest Bank Minnesota National Association,
as Trustee, the Servicer is required to prepare certain information each month
regarding distributions to Certificateholders and the performance of the Trust.
The information with respect to the Series 1997-2 Certificates is set forth
below:
Date of the Certificate January 12, 1998
Monthly Period ending: December 31, 1997
Determination Date January 12, 1998
Distribution Date January 15, 1998
<TABLE>
<CAPTION>
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General
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<S> <C> <C>
201 Amortization Period No 201
202 Early Amortization Period No 202
203 Class A Investor Amount paid in full No 203
204 Class B Investor Amount paid in full No 204
205 Collateral Indebtedness Amount paid in full No 205
206 Proffitt's Inc. is the Servicer Yes 206
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Investor Amount
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as of the end of
as of the end of prior the relevant
Monthly Period Monthly Period
------------------------ ------------------
207 Series 1997-2 Investor Amount $235,300,000 207(a) $235,300,000 207(b)
208 Class A Investor Amount $180,000,000 208(a) $180,000,000 208(b)
209 Class B Investor Amount $ 20,000,000 209(a) $ 20,000,000 209(b)
210 Collateral Indebtedness Amount $ 21,000,000 210(a) $ 21,000,000 210(b)
211 Class D Investor Amount $ 14,300,000 211(a) $ 14,300,000 211(b)
212 Series 1997-2 Adjusted Investor Amount $235,300,000 212(a) $235,300,000 212(b)
213 Class A Adjusted Investor Amount $180,000,000 213(a) $180,000,000 213(b)
214 Principal Account Balance $ - 214(a) $ - 214(b)
215 Class B Adjusted Investor Amount $ 20,000,000 215(a) $ 20,000,000 215(b)
216 Class A Certificate Rate 6.50% 216
217 Class B Certificate Rate 6.69% 217
218 Collateral Indebtedness Interest 6.5805% 218
219 Class D Certificate Rate 6.8555% 219
220 Weighted average interest rate for Series 1997-2 6.54% 220
as of the end of
as of the end of prior the relevant
Monthly Period Monthly Period
------------------------ -----------------
221 Series 1997-2 Investor Percentage with 71.22% 221(a) 60.85% 221(b)
respect to Finance Charge Receivables
222 Class A 54.48% 222(a) 46.55% 222(b)
223 Class B 6.05% 223(a) 5.17% 223(b)
224 Collateral Indebtedness Amount 6.36% 224(a) 5.43% 224(b)
225 Class D 4.33% 225(a) 3.70% 225(b)
226 Series 1997-2 Investor Percentage with respect 71.22% 226(a) 60.85% 226(b)
to Principal Receivables
227 Class A 54.48% 227(a) 46.55% 227(b)
228 Class B 6.05% 228(a) 5.17% 228(b)
229 Collateral Indebtedness Amount 6.36% 229(a) 5.43% 229(b)
230 Class D 4.33% 230(a) 3.70% 230(b)
231 Series 1997-2 Investor Percentage with respect to Allocable 71.22% 231(a) 60.85% 231(b)
Amounts 54.48% 232(a) 46.55% 232(b)
232 Class A 6.05% 233(a) 5.17% 233(b)
233 Class B 6.36% 234(a) 5.43% 234(b)
234 Collateral Indebtedness Amount 4.33% 235(a) 3.70% 235(b)
235 Class D
</TABLE>
Collections Allocated to Series 1997-2
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<TABLE>
<S> <C> <C>
236 Series allocation of collections of Principal Receivables $44,047,508 236
237 Class A $33,695,501 237
238 Class B $ 3,743,945 238
239 Collateral Indebtedness Amount $ 3,931,142 239
240 Class D $ 2,676,920 240
241 Series allocation of collections of Finance Charge Receivables $ 3,708,755 241
242 Class A $ 2,837,127 242
243 Class B $ 315,236 243
244 Collateral Indebtedness Amount $ 330,998 244
245 Class D $ 226,394 245
Available Funds
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246 Class A Available Funds $ 2,837,127 246
247 The amount to be withdrawn from the Reserve Account to be included in Class A available funds $ - 247
248 Principal Investment Proceeds to be included in Class A Available Funds $ - 248
249 The amount of investment earnings on amounts held in the Reserve Account to be included in $ - 249
Class A available funds
250 Class B Available Funds $ 315,236 250
251 The amount to be withdrawn from the Reserve Account to be included in Class B available funds $ - 251
252 Principal Investment Proceeds to be included in Class B Available Funds $ - 252
253 The amount of investment earnings on amounts held in the Reserve Account to be included in $ - 253
Class B available Funds
254 Collateral Available Funds $ 330,998 254
255 Class D Available Funds $ 225,394 255
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Application of Collections
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Class A
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Class A Monthly Interest for the related Distribution Date, plus the amount of any Class A Monthly
256 Interest previously due but not paid plus any additional interest with respect to interest amounts $ 975,000 256
that were due but not paid on a prior Distribution Date
If Proffitt's Inc. is no longer the Servicer, an amount equal to Class A Servicing fee for the
257 related Distribution Date $ - 257
258 Class A Allocable Amount $ 465,305 258
259 An amount to be included in the Excess Spread $ 1,396,822 259
Class B
-------
Class B Monthly Interest for the related Distribution Date, plus the amount of any Class B
260 Monthly Interest previously due but not paid plus any additional interest with respect to $ 111,500 260
interest amounts that were due but not paid on a prior Distribution date
If Proffitt's Inc. is no longer the Servicer, an amount equal to Class B Servicing fee for
261 the related Distribution Date $ - 261
262 An amount to be included in the Excess Spread $ 203,736 262
Collateral
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If Proffitt's Inc. is no longer the Servicer, an amount equal to Collateral Servicing fee
263 for the related Distribution Date $ - 263
264 An amount to be included in the Excess Spread $ 330,998 264
Class D
-------
If Proffitt's Inc. is no longer the Servicer, an amount equal to Class D Servicing
265 fee for the related Distribution Date $ - 265
266 An amount to be included in the Excess Spread $ 225,394 266
267 Available Excess Spread $ 2,156,951 267
268 Available Shared Excess Finance Charge Collections $ - 268
269 Class A Required Amount is to be used to fund any deficiency in line256, line257 and line258 $ - 269
270 The aggregate amount of Class A Investor Charge Offs which have not been previously reimbursed $ - 270
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<TABLE>
<C> <S> <C> <C> <C>
271 Class B Required Amount to the extent $ - 271
attributable to line260, and line261
272 Class B Allocable Amount $ 51,701 272
273 Any remaining portion of the Class B $ - 273
Required Amount
274 An amount equal to any unreimbursed $ - 274
reductions of the Class B Investor
Amount, if any, due to: (i) Class B
Investor Charge Offs; (ii) Reallocated
Principal Collections; (iii)
reallocations of the Class B Investor
Amount to the Class A Investor Amount
275 Collateral Monthly Interest for the $ 118,997 275
related Distribution Date plus
Collateral Monthly Interest previously
due but not paid to the Collateral
Indebtedness Holder plus Collateral
Additional Interest
276 Class A Servicing Fee plus Class B $ 368,333 276
Servicing Fee plus Collateral Servicing
Fee due for the relevant Monthly Period
and not paid above
277 Class A Servicing Fee plus Class B $ - 277
Servicing Fee plus Collateral Servicing
Fee due but not distributed to the
Servicer for prior Monthly Periods
278 Collateral Allocable Amount $ 54,286 278
279 Any unreimbursed reductions of the $ - 279
Collateral Indebtedness Amount (CIA),
if any, due to: (i) CIA Charge Offs;
(ii) Reallocated Principal Collections;
(iii) reallocations of the CIA to the
Class A or Class B Investor Amount
280 The excess, if any, of the Required $ - 280
Cash Collateral Amount over the
Available Collateral Amount
281 An amount equal to Class D Monthly $ 81,694 281
Interest due but not paid to the Class
D Certificateholders plus Class D
Additional Interest
282 Class D Servicing Fee due for the $ 23,833 282
relevant Monthly Period and not paid
above
283 Class D Servicing Fee due but not $ - 283
distributed to the Servicer for prior
Monthly Periods
284 Class D Allocable Amount $ 36,966 284
285 Any unreimbursed reductions of the $ - 285
Class D Investor Amount, if any, due
to: (i) Class D Investor Charge Offs;
(ii) Reallocated Principal Collections;
(iii) reallocations of the Class D
Investor Amount to the Class A or Class
B Investor Amount or CIA
286 Aggregate amount of any other amounts $ - 286
due to the Collateral Indebtedness
Holder pursuant to the Loan Agreement
287 Excess, if any, of the Required Reserve $ - 287
Account Amount over the amount on
deposit in the Reserve Account
288 Shared Excess Finance Charge Collections $ 1,421,141 288
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DETERMINATION OF MONTHLY PRINCIPAL
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289 Class A Monthly Principal (the least of $ - 289
line#290, line#291 and line#208)
290 Available Principal Collections held in $44,047,508 290
the Collection Account
291 Class A Accumulation Amount $ - 291
292 Class B Monthly Principal (the least of $ - 292
line#293, line#294 and line#209)
(distributable only after payout of Class A)
293 Available Principal Collections held in $44,047,508 293
the Collection Account less portion of
such Collections applied to Class A
Monthly Principal
294 Class B Accumulation Amount $ - 294
295 Collateral Monthly Principal (prior to $ - 295
payout of Class B) (the least of
line#296 and line#297)
296 Available Principal Collections held in $44,047,508 296
the Collection Account less portion of
such Collections applied to Class A and
Class B Monthly Principal
297 Enhancement Surplus $ - 297
298 Class D Monthly Principal $ - 298
299 Available Principal Collections held in $44,047,508 299
the Collection Account less portion of
such Collections applied to Class A,
Class B or collateral Monthly Principal
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AVAILABLE ENHANCEMENT AMOUNT
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300 Available Enhancement Amount $35,300,000 300
301 Amount on Deposit in the Cash Collateral Account $ - 301
</TABLE>
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<TABLE>
<CAPTION>
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REALLOCATED PRINCIPAL COLLECTIONS
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<C> <S> <C> <C> <C> <C> <C>
302 Reallocated Principal Collections $ - 302
303 Class D Principal Collections (to the $ - 303
extent needed to fund Required Amounts)
304 Collateral Principal Collections (to $ - 304
the extent needed to fund Required
Amounts)
305 Class B Principal Collections (to the $ - 305
extent needed to fund Required Amounts)
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INVESTOR DEFAULT AMOUNTS, ADJUSTMENT AMOUNTS, AND ALLOCABLE AMOUNTS
======================================================================================
% Amount
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306 Series 1997-2 Default Amount 71.22% 306(a) $ 608,257 306(b)
307 Class A Investor Default Amount 54.48% 307(a) $ 465,305 307(b)
308 Class B Investor Default Amount 6.05% 308(a) $ 51,701 308(b)
309 Collateral Default Amount 6.36% 309(a) $ 54,286 309(b)
310 Class D Investor Default Amount 4.33% 310(a) $ 36,966 310(b)
311 Series 1997-2 Adjustment Amount $ - 311
312 Class A Adjustment Amount $ - 312
313 Class B Adjustment Amount $ - 313
314 Collateral Adjustment Amount $ - 314
315 Class D Adjustment Amount $ - 315
316 Series 1997-2 Allocable Amount $ 608,257 316
317 Class A Allocable Amount $ 465,305 317
318 Class B Allocable Amount $ 51,701 318
319 Collateral Allocable Amount $ 54,286 319
320 Class D Allocable Amount $ 36,966 320
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REQUIRED AMOUNTS
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321 Class A Required Amount $ - 321
322 Class A Monthly Interest for current $ 975,000 322
Distribution Date
323 Class A Monthly Interest previously due $ - 323
but not paid
324 Class A Additional Interest for prior $ - 324
Monthly Period or previously due but not paid
325 Class A Servicing Fee (if Proffitt's is $ - 325
no longer the Servicer)
326 Class B Required Amount $ - 326
327 Class B Monthly Interest for current $ 111,500 327
Distribution Date
328 Class B Monthly Interest previously due $ 328
but not paid
329 Class B Additional Interest for prior $ 329
Monthly Period or previously due but not paid
330 Class B Servicing Fee (if Proffitt's is $ - 330
no longer the Servicer)
331 Excess of Class B Allocable Amount over $ - 331
funds available to make payments
332 Collateral Required Amount $ - 332
333 Collateral Monthly Interest for current $ 118,997 333
Distribution Date
334 Collateral Monthly Interest previously $ - 334
due but not paid
335 Collateral Additional Interest for $ - 335
prior Monthly Period or previously due
but not paid
336 Collateral Servicing Fee (if Proffitt's $ - 336
is no longer the Servicer)
337 Excess of Collateral Allocable Amount $ - 337
over funds available to make payments
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REDUCTION OF INVESTOR AMOUNTS
=======================================================================================
Class A
-------
338 Class A Investor Amount reduction $ - 338
339 Class A Investor Charge Off $ - 339
340 Reductions of the Class A Investor Amount $ - 340
Class B
-------
341 Class B Investor Amount reduction $ - 341
342 Class B Investor Charge Off $ - 342
343 Reductions of the Class B Investor Amount $ - 343
344 Reallocated Principal Collections $ - 344
applied to Class A
Collateral
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</TABLE>
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<PAGE>
<TABLE>
<C> <S> <C> <C> <C>
345 Collateral Indebtedness Amount reduction $ - 345
346 Collateral Indebtedness Amount Charge $ 346
Off
347 Reductions of the Collateral $ 347
Indebtedness Amount
348 Reallocated Principal Collections $ 348
applied to Class B
Class D
-------
349 Class D Investor Amount reduction $ - 349
350 Class D Investor Charge Off $ - 350
351 Reductions of the Class D Investor Amount $ - 351
352 Reallocated Principal Collections $ - 352
applied to Collateral Indebtedness Amount
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SERVICING FEE
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353 Series 1997-2 Servicing Fee $ 392,167 353
354 Class A Servicing Fee $ 300,000 354
355 Class B Servicing Fee $ 33,333 355
356 Collateral Servicing Fee $ 35,000 356
357 Class D Servicing Fee $ 23,833 357
</TABLE>
IN WITNESS WHEREOF, THE UNDERSIGNED HAS DULY EXECUTED AND DELIVERED THIS
CERTIFICATE THIS 12TH DAY OF JANUARY, 1998
PROFFITT'S INC.,
AS SERVICER
BY: /S/ JAMES S. SCULLY
NAME: JAME
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