Edition:
United States

Rent-A-Center Inc (RCII.OQ)

RCII.OQ on NASDAQ Stock Exchange Global Select Market

10.94USD
4:00pm EDT
Change (% chg)

$0.10 (+0.92%)
Prev Close
$10.84
Open
$10.85
Day's High
$11.01
Day's Low
$10.66
Volume
499,371
Avg. Vol
593,786
52-wk High
$13.73
52-wk Low
$7.76

Latest Key Developments (Source: Significant Developments)

Rent-A-Center's April core U.S. same-store sales down 13 pct
Monday, 15 May 2017 09:01am EDT 

May 15 (Reuters) - Rent-a-center Inc :Rent-A-Center Inc- April core U.S. same store sales down 13.0%; April acceptance now same store sales up 5.5%.  Full Article

Rent-A-Center Q1 GAAP shr loss $0.13
Monday, 1 May 2017 07:05pm EDT 

May 2 (Reuters) - Rent-a-center Inc :Rent-A-Center, inc. Reports first quarter 2017 results.Q1 GAAP loss per share $0.13.Q1 revenue $742 million versus i/b/e/s view $742.6 million.Q1 same store sales rose 1.5 percent.Q1 earnings per share view $-0.03 -- Thomson Reuters I/B/E/S.Q1 earnings per share $0.04 excluding items.Qtrly diluted earnings per share excluding special items improved by $0.27 sequentially.is not providing annual guidance as it relates to revenue or diluted earnings per share for 2017.has identified and began to execute on a new assortment strategy aimed at shifting towards more higher-end aspirational products.core U.S. Q1 revenues of $490.9 million decreased 16.0 percent.  Full Article

Engaged Capital says initiates litigation to restore record date for annual meeting previously announced by Rent-A-Center
Tuesday, 25 Apr 2017 09:05am EDT 

April 25 (Reuters) - Engaged Capital LLC: :Engaged Capital LLC says initiates litigation in Delaware to restore record date for annual meeting previously announced by Rent-A-Center.Engaged Capital LLC says it has no intention to mount takeover bid for Rent-A-Center Inc.  Full Article

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

More From Around the Web

Rent-A-Center says Engaged Capital rejects two board seats

Rent-A-Center said on Monday that activist investor Engaged Capital LLC, which has been pushing the furniture retailer to sell itself, rejected two board seats offered by the company.