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Rent-A-Center Inc. (RCII) is a leading rent-to-own company offering flexible leasing options for furniture, appliances, electronics, and computers. Based in Plano, Texas, the company operates through a network of thousands of stores across the United States, Puerto Rico, and Mexico. Rent-A-Center's core business revolves around providing customers with a convenient way to acquire high-quality products without the immediate financial burden of full payment.
Core Business:
Rent-A-Center's primary business model focuses on leasing household goods through a rent-to-own agreement. This allows customers to make affordable payments over time, giving them the option to own the product at the end of the lease term. The company caters to a broad demographic, especially aiming to support those with limited access to credit.
Recent Achievements:
Rent-A-Center has been actively expanding its digital and e-commerce capabilities, enhancing its online presence to serve a wider audience. The company has also made significant strides in improving its customer service and operational efficiency. These efforts aim to provide a seamless shopping experience both online and in-store.
Current Projects:
The company is investing in technology to streamline operations and improve customer engagement. This includes upgrading its e-commerce platform and integrating advanced analytics to better understand customer needs and preferences. Rent-A-Center is also focusing on sustainability initiatives, such as offering energy-efficient appliances and promoting eco-friendly products.
Financial Condition:
According to the latest financial reports, Rent-A-Center has shown steady growth in revenue and profitability. The company's strategic initiatives in cost management and market expansion have contributed to its robust financial health. Rent-A-Center continues to maintain a strong balance sheet with manageable debt levels.
Partnerships and Products:
Rent-A-Center has established partnerships with leading manufacturers and brands to offer a diverse range of products. These include top names in electronics, home appliances, and furniture, ensuring customers have access to the latest and most reliable products available.
With its commitment to affordability, customer service, and innovation, Rent-A-Center remains a significant player in the rent-to-own industry, providing valuable solutions for consumers seeking flexible leasing options.
Rent-A-Center has opened a new store in Fayetteville, Arkansas, at 2620 W Martin Luther King Jr. Blvd. The grand opening event is set for May 21 at 10 a.m. CDT, featuring a chance to win an LG 86” Smart TV valued at $1,899.99. The company will donate $1,000 to Northwest Arkansas Food Bank. Rent-A-Center operates 29 locations in Arkansas and offers flexible leasing solutions for high-quality goods. The store's hours are Monday to Friday, 10 a.m. to 7 p.m., and Saturday, 9 a.m. to 6 p.m.
Rent-A-Center has opened a new store in Lee’s Summit, located at 983 NE Rice Road. The grand opening celebration is scheduled for Saturday, May 14, at 10 a.m. CDT, featuring a chance to win an LG 86” Smart TV valued at $1,899.99. Additionally, the store will donate $1,000 to Meals on Wheels of Lee’s Summit, supporting local residents in need. Rent-A-Center operates 45 locations in Missouri and offers flexible leasing solutions for durable goods. The store’s business hours are Monday to Friday, 10 a.m. to 7 p.m., and Saturday, 9 a.m. to 6 p.m.
Rent-A-Center (NASDAQ: RCII) reported a Q1 2022 revenue of $1.2 billion, a 11.9% increase year-over-year, driven by the Acima Acquisition. However, on a pro-forma basis, revenues declined 5.8%. A GAAP loss per share of $0.08 was noted, while non-GAAP diluted EPS was $0.74. Adjusted EBITDA dropped 42.9% to $99.5 million. The company highlighted ongoing challenges with increased delinquency provisions and adjustments in underwriting due to the end of government stimulus programs. Full year 2022 guidance remains intact.
Rent-A-Center, Inc. (NASDAQ: RCII) will host a conference call on May 5, 2023, at 8:30 a.m. ET to discuss its first-quarter financial results. The results will be made public following the market close on May 4, 2023. Participants can join by calling (855) 642-7045 for U.S. and Canadian listeners or (346) 294-9649 for international participants. A live webcast will be available on the company's investor relations website, with a replay starting at 11:30 a.m. ET on May 5.
Rent-A-Center has opened a new store in Cape Girardeau, Missouri, at 2106 Williams St, Ste. 280. The grand opening is set for April 23 from 12 p.m. to 2 p.m. CDT, with a ribbon-cutting on April 22 at 12:30 p.m. CDT. Attendees can enter to win an LG 86” Smart TV valued at $1,899.99, with no purchase necessary. Additionally, Rent-A-Center is donating $1,000 to the Community Partnership of Southeast Missouri. The store will operate Monday through Friday from 10 a.m. to 7 p.m. and Saturday from 9 a.m. to 6 p.m.
Rent-A-Center has opened a new store in Decatur, Texas, located at 1401 S Highway 287. The grand opening celebration is scheduled for April 16, from 11 a.m. to 1 p.m. CDT, featuring a chance to win an LG 86” Smart TV valued at $1,899.99. As part of its community outreach, the store will donate $1,000 to Raquel’s Wings for Life, supporting local cancer patients. Rent-A-Center operates 217 locations in Texas, providing flexible leasing solutions for high-quality goods. The store will be open Monday to Friday from 10 a.m. to 7 p.m. and Saturday from 9 a.m. to 6 p.m.
Rent-A-Center, Inc. (NASDAQ: RCII) announced that Aaron Allred, the founder of Acima, has been appointed Executive Vice President of Acima effective March 28, 2022. Allred, a significant shareholder, will manage all Acima operations and report to CEO Mitch Fadel. Additionally, the company reaffirms its consolidated guidance for Q1 and full year 2022, projecting revenues of $4.45 to $4.6 billion and an Adjusted EBITDA between $515 million and $565 million. Non-GAAP diluted earnings per share are estimated to be $4.50 to $5.00 for the full year.
Rent-A-Center, Inc. (NASDAQ: RCII) has declared a quarterly cash dividend of $0.34 for Q2 2022, payable on April 22, 2022, to shareholders of record as of the close on April 5, 2022. The Company, known for its technology-driven leasing solutions, aims to enhance consumers' quality of life by providing access to durable goods without debt obligations. This motion reflects the Company's ongoing commitment to returning value to its shareholders.
Rent-A-Center, located at 1200 Business 190, Ste. 13 in Covington, LA, is opening a new store to provide residents with leasing options for furniture, electronics, and appliances. The grand opening is set for March 12, featuring a ribbon-cutting on March 11. Customers can enter to win an LG 86” Smart TV valued at $1,899.99. Additionally, the store will donate $1,000 to the Youth Service Bureau to support local at-risk youth. Rent-A-Center operates 34 locations in Louisiana and offers flexible leasing solutions through its omni-channel model.
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