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Acima Selected as Exclusive Lease-to-Own Provider of CITY Furniture
Rhea-AI Impact
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Rhea-AI Summary
Rent-A-Center (NASDAQ: RCII) announced an exclusive partnership with CITY Furniture, appointing Acima Leasing as the lease-to-own provider for its e-commerce platform and 23 showrooms in Florida. This collaboration aims to enhance consumer flexibility during economic challenges. Acima's technology offers a straightforward application process for consumers, promoting accessibility to high-quality goods without long-term debt commitments. The partnership is positioned as a strategic move to meet changing consumer needs in the current retail landscape.
Positive
Exclusive partnership with CITY Furniture enhances Acima's market presence.
Acima's lease-to-own services provide flexible shopping options for consumers.
Potential increase in customer base due to access to CITY Furniture's showrooms.
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 an agreement with CITY Furniture, a Florida-based home furnishings retailer. Acima was chosen as the exclusive lease-to-own platform for CITY’s e-commerce site and approximately 23 showrooms across Florida.
"We are thrilled that CITY Furniture chose Acima as their exclusive lease-to-own provider to give customers flexible shopping options for their home furnishing needs," said Mike Bagull, SVP Business Development & Partnerships, Acima. "As retailers deal with the current and upcoming economic headwinds, it’s important to have a lease-to-own option in place to ensure consumers have the shopping flexibility they need during challenging times."
Acima’s proprietary technology and simple application process enable underserved consumers to shop in-store and online without any long-term debt obligations. With flexible purchase options, customers can also elect to obtain ownership whenever they’re ready.
"CITY Furniture is on a mission to change the way people live through beautiful home furnishings, and Acima Leasing helps us make a positive impact on even more consumers," said Andrew Koening, Chief Executive Officer, CITY Furniture. "We are excited to collaborate with Acima because their technology and team are aligned with our value of putting the customer first."
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 CITY Furniture
CITY Furniture, a South-Florida based, family-owned American furniture and mattress retailer and fine upholstery manufacturer and one of America’s Top 100 furniture retailers, operates over 23 showrooms from Miami through Vero Beach, and in Southwest and Central Florida. For more information, please visit Cityfurniture.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 CITY Furniture 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 CITY Furniture, 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.
