Acima and Sleep Outfitters Partner to Bring Great Sleep to Underserved Consumers

Rhea-AI Summary

Acima Leasing, a subsidiary of Rent-A-Center (NASDAQ: RCII), has entered a multi-year agreement with Sleep Outfitters to be the exclusive lease-to-own platform for their e-commerce site and over 120 stores across 10 states. This partnership aims to enhance consumer access to top bedding brands like Sealy and Tempur-Pedic, promoting shopping flexibility, especially for those with less-than-perfect credit histories. The agreement is seen as a strategic move to expand lease-to-own solutions in the retail sector, thus supporting both merchants and consumers.

Positive

• Multi-year exclusive agreement with Sleep Outfitters enhances market position.
• Increased access to popular bedding brands for consumers.
• Partnership addresses consumer needs for flexible shopping options.

Negative

• None.

PLANO, Texas--(BUSINESS WIRE)-- Acima Leasing, a leading provider of lease-to-own (“LTO”) services for merchants and consumers and Fintech platform of Rent-A-Center, Inc. (NASDAQ/NGS: RCII), is pleased to announce a multi-year agreement with Sleep Outfitters, a leading sleep solutions provider, to be the exclusive lease-to-own platform for their e‑commerce site and over 120 stores in Alabama, Arizona, Florida, Indiana, Kansas, Kentucky, Missouri, Ohio, Tennessee, and West Virginia.

With the addition of Acima’s LTO solutions at Sleep Outfitters, consumers from all backgrounds can more easily access America’s most iconic bedding brands: Sealy, Stearns & Foster, and Tempur-Pedic.

“In the current economic landscape, it’s more important than ever that consumers have shopping flexibility, even if their credit history is less than perfect, making access to leasing options increasingly valuable for both merchants and consumers,” said Mike Bagull, SVP Business Development & Partnerships, Acima. “With Sleep Outfitters as a new partner, we can help more consumers obtain access to the quality bedding products they need to live a better quality of life.”

Retailers that want to add lease-to-own solutions to their e-commerce or in-store checkout can learn more about Acima’s offerings at: www.acima.com/partner.

About Rent-A-Center, Inc.

Rent-A-Center, Inc. (NASDAQ: RCII) is a leading provider of technology driven, flexible, no debt obligation leasing solutions that offer underserved consumers access to and potential ownership of high-quality durable goods that enhance the quality of life. The Company’s omni-channel model utilizes proprietary data and technology to facilitate transactions across a wide range of retail channels including its own Acima virtual lease-to-own platform, Rentacenter.com, e-commerce partner platforms, partner retail stores, and Rent-A-Center branded stores. For additional information about the Company, please visit our website Rentacenter.com or Investor.rentacenter.com.

About Sleep Outfitters

Sleep Outfitters is a leading sleep solutions provider, founded in 1983. Today, Sleep Outfitters employs around 400 people and operates over 120 stores in 10 states: Alabama, Arizona, Florida, Indiana, Kansas, Kentucky, Missouri, Ohio, Tennessee, and West Virginia. Sleep Outfitters is a Tempur Sealy company. For additional information, visit SleepOutfitters.com.

Rent-A-Center, Inc. Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, among others, statements regarding the announced transaction with Sleep Outfitters and other statements that are not historical facts. Such forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "could," "estimate," "predict," "continue," “maintain,” "should," "anticipate," "believe," or “confident,” or the negative thereof or variations thereon or similar terminology. Such forward-looking statements are based on particular assumptions that our management has made in light of its experience and its perception of expected future developments and other factors that it believes are appropriate under the circumstances, and are subject to various risks and uncertainties. Factors that could cause or contribute to material and adverse differences between actual and anticipated results include, but are not limited to, future developments and results from our announced transaction with Sleep Outfitters, and other risks detailed from time to time in the reports filed by us with the SEC, including our most recently filed Annual Report on Form 10-K, as may be updated by reports on Form 10-Q or Form 8-K filed thereafter. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this release. Except as required by law, we are not obligated to, and do not undertake to, publicly release any revisions to these forward-looking statements to reflect any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221115005748/en/

Brendan Metrano

VP, Investor Relations

972-801-1280

brendan.metrano@rentacenter.com

Source: Rent-A-Center, Inc.

FAQ

What is the new agreement between Rent-A-Center and Sleep Outfitters?

Rent-A-Center's Acima Leasing has signed a multi-year exclusive agreement to provide lease-to-own services for Sleep Outfitters' e-commerce and physical stores.

How many stores will participate in the Rent-A-Center and Sleep Outfitters agreement?

Over 120 Sleep Outfitters stores across 10 states will utilize Rent-A-Center's lease-to-own platform.

What brands are available through the new lease-to-own services?

Consumers can access popular bedding brands such as Sealy, Stearns & Foster, and Tempur-Pedic through the lease-to-own services.

How does this agreement benefit consumers?

The partnership provides consumers, especially those with less-than-perfect credit, easier access to quality bedding products through flexible leasing options.

When was the agreement between Rent-A-Center and Sleep Outfitters announced?

The agreement was announced in a press release dated November 15, 2022.