July 21, 2014 / 8:36 PM / 3 years ago

Rent-A-Center cuts forecast

1 Min Read

July 21 (Reuters) - Rent-to-own home furniture retailer Rent-A-Center Inc reduced its full-year forecast for revenue and profit, saying it expected demand to remain soft.

Rent-A-Center Inc shares were down 2 percent in extended trading, after the company also reported second-quarter sales and profit in line with the lower-than-expected estimates it gave last week.

The company said it now expects earnings of $2-$2.15 per share on revenue growth of 2.5-4 percent for 2014.

It had previously forecast earnings of $2.30-$2.50 per share on revenue growth of 3-6 percent. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Joyjeet Das)

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