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Rent-A-Center Inc (RCII.O)

RCII.O on Nasdaq

18 Aug 2017
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$0.13 (+1.05%)
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Latest Key Developments (Source: Significant Developments)

Engaged Capital reports 16.9 pct stake in Rent-A-Center
Thursday, 20 Apr 2017 01:22pm EDT 

April 20 (Reuters) - Rent-a-center Inc :Engaged capital flagship master fund, lp - on april 20, withdrew nomination of carol mcfate for election as director at annual meeting - sec filing.Engaged capital flagship master-to file definitive proxy statement with sec to elect nominees, jeffrey brown, mitchell fadel and christopher hetrick, to rent-a-center board.Engaged capital llc - reports 16.9 percent stake in rent-a-center inc as of april 20.  Full Article

Rent-A-Center core U.S. same store sales down 9.6 pct for March
Thursday, 20 Apr 2017 09:30am EDT 

April 20 (Reuters) - Rent-a-center Inc :Rent-A-Center Inc - Core U.S. same store sales down 9.6 percent for March.Rent-A-Center Inc - March core U.S. delinquencies 6.1% and 140 basis points favorable versus prior month.Rent-A-Center Inc - Acceptance now same store sales up 12.4 percent in March.Rent-A-Center Inc - March core U.S. co-worker turnover 83.7% and 10.4 percentage points favorable versus prior year.  Full Article

Rent-A-Center in presentation - "refutes" Engaged Capital's assertion that a sale represents value maximizing strategy
Monday, 10 Apr 2017 08:00am EDT 

Rent-A-Center Inc : In presentation - refutes Engaged Capital’s assertion that a sale of the company today represents value maximizing strategy . In presentation - Engaged Capital has no plan to improve operations at Rent-A-Center Further company coverage: [RCII.O] ((bangalore.newsroom@thomsonreuters.com;)).  Full Article

Rent-A-Center announces new strategic plan to drive growth
Monday, 10 Apr 2017 07:01am EDT 

Rent-a-center Inc : Announces new strategic plan to drive growth, improve profitability and deliver enhanced stockholder value . Reestablishing 2x2 matrix cost-based approach as its foundational pricing strategy . Targets revenue growth in low-single digits in 2018 . Sees EPS target of $1.20 - $1.40 for 2018 . Targets revenue growth in mid-single digits in 2019 . As a result of new plan expects 2018 target free cash flow $70 - $90 million . Sees EPS target of $2.00 - $2.25 for 2019 . As a result of new plan expects 2019 target free cash flow $110 - $130 million . J.P. Morgan is rent-a-center's financial advisor and Winston & Strawn is serving as its legal advisor . Improving early payout options that promote ownership, with expectation return on investment will increase from about 2.7x to 3.0x . Anticipates initiatives will result in an estimated run-rate EBITDA improvement of approximately $65 million by 2018-2019 .Rent-A-Center-Steps to restore profitability in U.S. Core business is expected to result in estimated run-rate EBITDA improvement of about $40 million by 2018-2019.  Full Article

Rent-A-Center says will not renew referral deal with Conn Appliances
Thursday, 30 Mar 2017 05:30pm EDT 

Rent-a-center Inc : Rent-A-Center Inc to terminate acceptance now agreement with Conn Appliances Inc. . Rent-A-Center - determined not to renew referral agreement with Conns due to quality and performance of ANow customer accounts originating from Conns stores . Rent-A-Center inc - expect the closures will result in an immediate improvement in cash flow in ANow business beginning in June .Rent-A-Center - as result of non-renewal of agreement, all 115 ANow kiosks located inside Conns stores will cease operations at close of business on June 6.  Full Article

Rent-A-Center adopts stockholder rights plan
Tuesday, 28 Mar 2017 08:00am EDT 

Rent-A-Center Inc : Rent-A-Center Inc adopts stockholder rights plan . Sets trigger at 15% .Rent-A-Center Inc - has unanimously adopted a stockholder rights plan to protect best interests of all rent-a-center stockholders.  Full Article

Glenn W. Welling reports 13.7 pct stake in Rent-A-Center as of March 15
Wednesday, 15 Mar 2017 05:17pm EDT 

Rent-a-center Inc :Glenn w. Welling reports 13.7 percent stake in rent-a-center inc as of march 15, 2017 versus 9.9 percent as of february 23, 2017 - sec filing.  Full Article

Rent-A-Center says on March 2 Board designated Steven L. Pepper as lead independent director
Thursday, 9 Mar 2017 05:50pm EST 

Rent-A-Center Inc : On March 2 board designated Steven L. Pepper as lead independent director of board effective immediately - SEC filing . On March 7 company made a mandatory $141.9 million payment on term loans, as required by current credit agreement - SEC filing .Mark E. Speese, Chairman of Board and Interim CEO of co, assumed his position as Interim Ceo in January of this year.  Full Article

Rent-A-Center inc's U.S. same store sales down 11.5 pct
Wednesday, 1 Mar 2017 05:31pm EST 

Rent-a-center Inc : Rent-A-Center Inc - January core u.s. Same store sales down 11.5% . January same store sales up 2.5pct for acceptance now . Also announced that it is modifying methodology it uses to calculate same store sales, beginning in 2017 .Rent-A-Center - change in methodology favorably impacted core U.S., acceptance now segments in Jan. 2017 same store sales by about 50 basis points.  Full Article

Engaged Capital Llc purchased Rent-A-Center shares
Monday, 30 Jan 2017 08:45am EST 

Rent-A-Center Inc : Engaged Capital Llc - purchased rent-a-center shares based on belief that the shares, when purchased, were undervalued . Engaged Capital Llc - reports 9.9 percent stake in rent-a-center as of January 19, 2017 .Engaged Capital - have engaged, and intend to continue to engage, in communications with rent-a-center regarding means to create stockholder value.  Full Article

Hedge fund Marcato demands that Rent-A-Center sell itself

BOSTON Marcato Capital Management LP demanded on Tuesday that Rent-A-Center Inc start the process of selling itself or the activist hedge fund threatened to work to throw out board members up for re-election at next year's annual meeting.