Welcome to our dedicated page for RENT-A-CENTER news (Ticker: RCII), a resource for investors and traders seeking the latest updates and insights on RENT-A-CENTER stock.
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 opens a new location at 809 W. Danforth Rd, Edmond, OK, on July 2. The store invites residents to a grand opening celebration on July 17, featuring a ribbon-cutting ceremony and a chance to win an 86” LG TV valued at $1,999. The company also contributes $1,000 to the Edmond Veterans Memorial. Rent-A-Center, headquartered in Plano, Texas, operates 41 Oklahoma locations, providing rent-to-own options for furniture, electronics, and appliances without long-term obligations.
Rent-A-Center (NASDAQ: RCII) has declared a quarterly cash dividend of $0.31 per share for Q3 2021. This dividend will be paid on July 13, 2021, to stockholders of record as of June 22, 2021. The company is known for its lease-to-own services aimed at cash and credit-constrained customers, offering access to quality products through flexible payment agreements. Rent-A-Center operates approximately 1,970 stores across the U.S., Mexico, and Puerto Rico, and provides additional services through its Acima segment and franchise locations.
Rent-A-Center (NASDAQ: RCII) announced its participation in the Jefferies Virtual Consumer Conference on June 22, 2021, where CEO Mitch Fadel, CFO Maureen Short, and EVP Jason Hogg will engage in a fireside chat at 1:30 p.m. ET. This event will be accessible via a live webcast on the company's investor relations website. Rent-A-Center is a leading omni-channel lease-to-own provider, enhancing customers' quality of life through flexible payment agreements and a broad range of products available in approximately 1,970 stores across the U.S., Mexico, and Puerto Rico.
Rent-A-Center (NASDAQ: RCII) reported strong Q1 2021 results, with revenues reaching $1 billion, up 47.7% year-over-year. The acquisition of Acima drove a 111.7% revenue increase in its segment, while same-store sales rose 23.4%. The company achieved a non-GAAP EPS of $1.32, a 96.8% increase from the previous year, and raised its 2021 guidance for consolidated revenue and adjusted EBITDA. E-commerce sales grew over 50%, signaling robust digital performance. The company ended Q1 with $123 million in cash but also reported increased expenses due to the Acima acquisition.
Rent-A-Center, Inc. (NASDAQ: RCII) will host a conference call on May 6 at 7:30 a.m. ET to discuss its first-quarter results, which will be released after market close on May 5. U.S. and Canadian investors can join the call at (800) 399-0012, while international participants can dial (404) 665-9632. A live webcast is available on the company's investor relations website. Rent-A-Center offers lease-to-own solutions through its various segments and has about 1,970 stores in the U.S., Mexico, and Puerto Rico, catering to cash and credit-constrained customers.
Acima, a leading FinTech company under Rent-A-Center, launched the Acima LeasePay™ card, the first lease-to-own payment card powered by Mastercard. This innovative card allows cash and credit-constrained consumers to instantly access up to $4,000 for lease transactions, eliminating upfront retailer risks. The card will be available through Acima's mobile app and will include both virtual and physical options. Acima aims to enhance shopping experiences for underserved consumers while boosting merchant revenue potential without upfront risk.
Rent-A-Center, Inc. (NASDAQ: RCII) has declared a quarterly cash dividend of $0.31 per share for Q2 2021. The dividend will be paid to shareholders on April 22, 2021, with a record date of April 6, 2021. This announcement underlines the company's commitment to returning value to its shareholders. Rent-A-Center is a leading provider of lease-to-own services, offering customers access to high-quality products through flexible payment plans, along with a strong omni-channel retail presence.
Rent-A-Center (NASDAQ: RCII) announced its participation in several upcoming investor conferences. Key management, including CEO Mitch Fadel and CFO Maureen Short, will present at events such as the J.P. Morgan Global High Yield Conference on March 2, the BofA Securities Consumer and Retail Technology Conference on March 9, and Loop Capital Markets’ Investor Conference on March 11-12, 2021. The presentations aim to offer insights into the company's lease-to-own business model and market strategies. Audiocasts of the presentations will be available on their investor website.
Rent-A-Center, NASDAQ: RCII, reported strong Q4 2020 results, with revenues reaching $716.5 million, a 7.3% increase year-over-year, driven by a 13.7% rise in same-store sales. Net earnings climbed 39% to $56.3 million, yielding a diluted EPS of $1.00. The acquisition of Acima is expected to enhance long-term growth, targeting $6 billion in consolidated revenue by 2023. The company maintains a robust liquidity position with $369 million available and a low net debt to Adjusted EBITDA ratio of 0.1. A cash dividend of $0.31 per share was also declared, marking a 6.9% increase.
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