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Upbound Group, Inc. (NASDAQ: UPBD) is a leading omnichannel platform company dedicated to enhancing financial opportunities for consumers through innovative and inclusive financial solutions. The company’s mission is to address the evolving financial needs and aspirations of its customers using technology-driven approaches. Upbound Group operates through four primary segments:
- Rent-A-Center Business: This segment operates lease-to-own stores across the United States, providing customers with flexible payment options for big-ticket items.
- Acima: A prominent part of Upbound's operations, Acima offers lease-to-own transactions for consumers who do not qualify for traditional financing. Its services are available through various channels, including e-commerce, digital, and mobile platforms.
- Mexico Segment: This segment operates lease-to-own stores in Mexico, further expanding Upbound Group's reach and influence.
- Franchising Segment: This segment focuses on the sale of rental merchandise to franchisees, helping them grow their businesses under the Rent-A-Center brand.
Headquartered in Plano, Texas, Upbound Group employs approximately 17,000 people nationwide and operates over 2,400 stores in 50 states, Washington D.C., Canada, and Puerto Rico. The company's core brands include Rent-A-Center and Acima, both of which facilitate consumer transactions across a wide range of retail channels, both physical and digital.
Recently, Upbound Group has made significant strides through strategic partnerships and innovative solutions:
- In April 2024, Acima Leasing announced an exclusive multi-year agreement with Levin Furniture & Mattress, a top 501 home furnishings retailer. This partnership aims to provide flexible shopping options for consumers with credit challenges, enabling them to access high-quality furniture and mattresses.
- In April 2024, Upbound Group's Acima Leasing also partnered with iFIT Inc., integrating lease-to-own options for iFIT's interactive fitness products. This collaboration allows customers from diverse financial backgrounds to access premium fitness equipment through flexible leasing solutions.
- In May 2024, Acima Leasing released a comprehensive white paper highlighting the benefits of having a best-in-class lease-to-own partner. The paper emphasized the importance of LTO options in enhancing customer loyalty and satisfaction, while providing growth opportunities for retail partners.
Upbound Group’s commitment to financial inclusivity and cutting-edge technology continues to drive its success and expansion. For more information about Upbound Group, Inc., visit their website at www.upbound.com.
Upbound Group (NASDAQ: UPBD) announced the opening of a new Rent-A-Center store in Espanola, New Mexico. The store, managed by Casey Montoya, will offer flexible lease-to-own options for furniture, appliances, electronics, and more. Located at 1116 N. Riverside Drive Suite C, the store will hold a grand opening celebration on May 31 at 1 p.m., featuring a ribbon-cutting ceremony and giveaways, including a 65-inch LED TV and a recliner chair. The store will also donate $2,000 to the Boys and Girls Club of Santa Cruz. Rent-A-Center has 18 locations in New Mexico, with the Espanola store open Monday to Saturday, 10 a.m. to 6 p.m.
Acima Leasing, a business of Upbound Group, Inc. (NASDAQ: UPBD), released a white paper highlighting the benefits of lease-to-own solutions for retailers and customers. The paper emphasizes the financial flexibility and customer loyalty enhancement that LTO options provide, benefiting both parties involved.
Upbound Group, Inc. reported its first-quarter 2024 results, showcasing a total revenue of $1,096 million. The company disclosed a GAAP Diluted EPS of $0.50 and a Non-GAAP Diluted EPS of $0.79. Upbound Group, Inc. is a platform company focused on innovative financial solutions through industry-leading brands like Rent-A-Center® and Acima®.
Acima Leasing, a subsidiary of Upbound Group, Inc. (NASDAQ: UPBD), announced an exclusive lease-to-own partnership with iFIT Inc., a global fitness leader, to offer iFIT's fitness products to customers. This partnership provides financial inclusivity and flexibility through Acima Leasing's LTO solution, catering to customers with varying credit histories. By integrating Acima's technology, iFIT can offer NordicTrack® and ProForm® brands to a wider audience, enhancing brand loyalty and customer reach.
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