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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 a new share repurchase authorization of up to $500 million following the completion of a $250 million repurchase program initiated in August 2021. These repurchases may occur via various methods, including open market transactions. Additionally, the Board approved a 10% increase in the quarterly cash dividend to $0.34, payable on January 13, 2022, to shareholders of record by December 16, 2021. This strategic move aims to enhance shareholder value.
Rent-A-Center, Inc. (NASDAQ: RCII) will participate in two upcoming conferences. On December 8, 2021, the company will present at the UBS Global TMT Virtual Conference at 1:00 PM ET, featuring CEO Mitch Fadel, EVP Acima Jason Hogg, and CFO Maureen Short. A webcast will be available on the investor.rentacenter.com. Additionally, on December 9, 2021, Rent-A-Center will hold virtual meetings at the Jefferies Consumer Finance Summit. The company continues to lead in retail leasing solutions following its February 2021 acquisition of Acima Holdings LLC.
Rent-A-Center has opened a new location in D’Iberville, Mississippi, offering residents flexible options for acquiring furniture, appliances, electronics, and computers. The store, located at 3680 Sangani Blvd, will host a grand opening on December 4, featuring a ribbon-cutting ceremony and a chance to win an LG 86” Smart TV valued at $1,249. Additionally, Rent-A-Center will donate $1,000 to the St. Vincent DePaul Society to support those in need. The store operates 23 locations in Mississippi, enhancing access to quality goods for underserved consumers.
Rent-A-Center (NASDAQ: RCII) announced its participation in the 2021 Stephens Annual Investment Conference on December 3, 2021, at 9:00 AM ET in Nashville, TN. Key executives including CEO Mitch Fadel and CFO Maureen Short will represent the company. Following the acquisition of Acima Holdings LLC in February 2021, Rent-A-Center has solidified its leadership in retail leasing solutions, utilizing an omni-channel model. A webcast of the event will be available on the company's investor relations website.
Rent-A-Center has launched a new store in Greenwood, SC, located at 521 Bypass 72 NW Ste. E, enhancing access to quality furniture, appliances, and electronics. A grand opening celebration is scheduled for Saturday, Nov. 20, from 11 a.m. to 1 p.m. EST, featuring a ribbon-cutting and a giveaway of an LG 86” Smart TV valued at $1,249. The new location will also donate $1,000 to the Food Bank of Greenwood County to help combat local food insecurity. Rent-A-Center currently operates 36 locations across South Carolina.
Rent-A-Center has reopened its store in Lake Charles, LA, at 3635 Ryan Street. The grand reopening will be celebrated on November 19, from 11 a.m. to 1 p.m. CST, featuring a ribbon-cutting ceremony and a chance to win an 86” LG Smart TV. Additionally, the store will donate $1,000 to Abraham's Tent, a local food pantry. Rent-A-Center operates 32 locations in Louisiana and offers flexible leasing solutions to underserved consumers through various retail channels.
Rent-A-Center reported third quarter 2021 revenues of $1.2 billion, a 65.9% year-over-year increase, largely driven by the Acima acquisition. Pro forma revenues rose 13%, with Acima GMV surpassing $500 million (up 19%). Same-store sales for the Rent-A-Center segment increased 12%. However, GAAP net income fell to $21.3 million from $64 million a year prior, largely due to special costs. Non-GAAP diluted EPS was $1.52, up from $1.04. The company aims for $6 billion in revenue by 2023 while facing ongoing supply chain challenges.
Rent-A-Center has reopened its store at 10729 Eastex Freeway, Houston on October 22. The store offers furniture, appliances, and electronics with an opening celebration featuring an 86” LG TV giveaway. During the event, Rent-A-Center will also donate $1,000 to the Houston Food Bank. The company operates 180 locations in Texas, providing flexible leasing solutions for underserved consumers. The store's operating hours are Monday-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) will hold a conference call on November 4 at 8:30 a.m. ET to discuss its third quarter results, set for release after market close on November 3. U.S. residents can join by calling (800) 399-0012, while international participants can dial (404) 665-9632. A live webcast will be available on the Company’s investor relations site along with a replay post-call.
Rent-A-Center delivers flexible leasing solutions, enhancing consumer access to durable goods.
Rent-A-Center has reopened its store in Lawton, Oklahoma, at 1222 NW Sheridan Road, inviting the community to a grand reopening on Friday, Oct. 1. The event will feature a ribbon-cutting ceremony and a chance to win an 86” LG TV valued at $1,999. Additionally, the store will donate $1,000 to the
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