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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, Inc. (NASDAQ: RCII) has announced participation in two upcoming conferences. On
Rent-A-Center reported a 10.5% increase in Q4 revenues, totaling $1.2 billion. The Acima segment's GMV was over $520 million, up 5%. The Company anticipates challenges ahead, including high inflation and supply chain disruptions, potentially leading to declines in 2022 revenue and earnings. GAAP diluted EPS for Q4 was $0.15, while non-GAAP diluted EPS was $1.08. Full-year revenues of $4.6 billion grew 17.3% pro forma. The Company returned $388.4 million to shareholders in Q4 through dividends and buybacks.
Home Choice Store has opened a new location in Bemidji, Minnesota, providing residents with an option for high-quality furniture, appliances, and electronics. The grand opening celebration is set for February 26, with a ribbon-cutting ceremony on February 25. Customers can enter to win an LG 86” Smart TV during the event. Home Choice will also donate $1,000 to the Bemidji Community Food Shelf to support local food security efforts. This store is part of the Rent-A-Center family, operating 19 locations in Minnesota.
Rent-A-Center, Inc. (NASDAQ: RCII) will host a conference call on February 24 at 9:30 a.m. ET to discuss its fourth quarter results, scheduled for release after the market closes on February 23. Participants in the U.S. can join by calling (855) 642-7045, while international callers can dial (346) 294-9649. A live webcast will be available on the company’s investor relations website. A replay of the call will be accessible from February 24 at 12:30 p.m. ET.
Rent-A-Center, Inc. (NASDAQ: RCII) announced the election of Ms. Jen You as an independent director to its Board, effective January 26, 2022. Ms. You brings extensive experience in technology leadership, currently serving as Head of Product for Uber Rides. Her background includes significant roles at RippleX Platform, WeWork, and UnitedMasters, along with a tenure at Facebook. CEO Mitch Fadel expressed confidence that Ms. You's expertise in technology products will enhance the Board's effectiveness in implementing digital solutions for consumers.
The Get It Now! store in Green Bay, Wisconsin, opened on January 29, offering residents an option for high-quality furniture and appliances. The grand opening featured a ribbon-cutting ceremony and a giveaway of an LG 86” Smart TV valued at $1,899.99. The store will contribute $1,000 to the Boys & Girls Club of Greater Green Bay. Get It Now!, part of Rent-A-Center, Inc. (RCII), operates 29 locations in Wisconsin and utilizes an omni-channel model to provide flexible lease-to-own solutions.
Rent-A-Center, Inc. has opened a new Get It Now! store in Beaver Dam, Wisconsin, offering residents access to a range of furniture, appliances, and electronics. The grand opening celebration is set for January 22, featuring a ribbon-cutting on January 21 and a chance to win an LG 86” Smart TV. The store will contribute $1,000 to the United Way of Dodge County. Rent-A-Center operates 28 locations in Wisconsin, with a mission to provide flexible leasing solutions for consumers.
Rent-A-Center has opened a new store in Greeneville, Tennessee, located at 1511 East Andrew Johnson Highway. The grand opening celebration is scheduled for Saturday, January 15, from 11 a.m. to 1 p.m. EST, featuring a ribbon-cutting ceremony and merchandise shopping opportunities. The store will also host a giveaway of an LG 86” Smart TV valued at $1,899.99. Additionally, Rent-A-Center will donate $1,000 to Greene County United Way. The new location adds to the company's 52 stores in Tennessee and aims to provide flexible leasing options for high-quality goods.
Rent-A-Center has opened a new store in Neosho, MO, located at 3201 Lusk Dr.. The grand opening event is set for January 8, from 11 a.m. to 1 p.m. CST, featuring a ribbon-cutting ceremony and a chance to win an LG 86” Smart TV worth $1,899.99. Rent-A-Center will also donate $1,000 to the Faithful Friends Animal Advocates. This new location increases the company’s presence in Missouri, where it now operates 44 stores, offering flexible leasing options for consumers.
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