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Rent-A-Center Inc (RCII.OQ)

RCII.OQ on NASDAQ Stock Exchange Global Select Market

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Latest Key Developments (Source: Significant Developments)

Rent-A-Center Q2 Earnings Per Share $0.47 Excluding Items
Monday, 30 Jul 2018 04:30pm EDT 

July 30 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER, INC. REPORTS SECOND QUARTER 2018 RESULTS.Q2 REVENUE $655.7 MILLION VERSUS I/B/E/S VIEW $644.1 MILLION.Q2 EARNINGS PER SHARE $0.47 EXCLUDING ITEMS.Q2 GAAP EARNINGS PER SHARE $0.25.Q2 EARNINGS PER SHARE VIEW $0.24 -- THOMSON REUTERS I/B/E/S.RENT-A-CENTER - COST SAVINGS INITIATIVES ARE SIGNIFICANTLY AHEAD OF ORIGINAL SCHEDULE & EXPECTED TO GENERATE OVER $100 MILLION IN ANNUAL RUN-RATE SAVINGS.COMPANY IS NOT PROVIDING 2018 SELECTED GUIDANCE DUE TO PENDING VINTAGE MERGER.  Full Article

Rent-A-Center Says To Pay To Vintage Rodeo Parent Fee Of $25.3 Mln If Deal Terminated
Tuesday, 19 Jun 2018 08:15am EDT 

June 19 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER SAYS CO TO PAY TO VINTAGE RODEO PARENT, LLC FEE OF $25.3 MILLION IF DEAL TERMINATED UNDER CERTAIN CIRCUMSTANCES - SEC FILING.RENT-A-CENTER - VINTAGE RODEO PARENT TO PAY CO A TERMINATION FEE OF $126.5 MILLION, IF DEAL TERMINATED UNDER CERTAIN CONDITIONS.  Full Article

Rent-A-Center Says Entered Into Employment Agreement With CEO Mitchell Fadel
Tuesday, 3 Apr 2018 05:28pm EDT 

April 3 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER SAYS ENTERED INTO EMPLOYMENT AGREEMENT WITH CEO MITCHELL FADEL - SEC FILING.ALSO ENTERED INTO A LOYALTY AND CONFIDENTIALITY AGREEMENT WITH CEO FADEL.TERM OF EMPLOYMENT AGREEMENT WITH CEO FADEL AUTOMATICALLY RENEWS FOR SUCCESSIVE ONE YEAR RENEWAL PERIODS.  Full Article

Rent-A-Center Reduces Corporate Headcount By About 250 Positions
Wednesday, 7 Mar 2018 04:30pm EST 

March 7 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER PROVIDES BUSINESS UPDATES.RENT-A-CENTER INC - REDUCING CORPORATE HEADCOUNT BY APPROXIMATELY 250 POSITIONS.RENT-A-CENTER INC - REVIEW OF STRATEGIC AND FINANCIAL ALTERNATIVES REMAINS ONGOING; EVALUATING PROPOSALS.RENT-A-CENTER - HEADCOUNT REDUCTION, AMONG OTHERS, EXPECTED TO GENERATE ABOUT $28 MILLION IN ANNUAL RUN-RATE COST SAVINGS WITH ABOUT $20 MILLION REALIZED IN 2018.RENT-A-CENTER - EXPECTS TO INCUR EMPLOYEE SEVERANCE CHARGES AND OTHER ONE-TIME COSTS RELATING TO WORKFORCE REDUCTIONS OF ABOUT $3 MILLION IN Q1 2018.RENT-A-CENTER INC - BOARD CURRENTLY EXPECTS TO REACH A DETERMINATION WITH RESPECT TO WHETHER TO PURSUE A SALE OF COMPANY DURING Q2 2018.  Full Article

Rent-A-Center Says Joel Mussat Resigned As EVP-COO
Wednesday, 28 Feb 2018 08:09am EST 

Feb 28 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER SAYS JOEL MUSSAT RESIGNED AS EVP-COO - SEC FILING.RENT-A-CENTER - AS PART OF ONGOING COST-SAVINGS, COO POSITION HAS BEEN ELIMINATED.  Full Article

Rent-A-Center Reports Q4 GAAP Earnings Per Share $0.65
Tuesday, 20 Feb 2018 05:10pm EST 

Feb 20 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER, INC. REPORTS FOURTH QUARTER 2017 RESULTS.Q4 LOSS PER SHARE $0.41 EXCLUDING ITEMS.Q4 GAAP EARNINGS PER SHARE $0.65.Q4 REVENUE FELL 6.6 PERCENT TO $639 MILLION.‍"Q4 PERFORMANCE WAS MORE CHALLENGING THAN COMPANY EXPECTED AND DEMONSTRATED NEED FOR CHANGE"​.INITIATED EFFORTS TO MORE "AGGRESSIVELY" EXPAND FRANCHISING OPERATIONS​.‍NEW TAX REFORM IS EXPECTED TO GENERATE MATERIAL BENEFIT TO CASH TAXES OF ABOUT $200 MILLION OVER NEXT 3 YEARS​.‍CORE U.S. Q4 REVENUES OF $444.7 MILLION DECREASED 6.0 PERCENT​.‍"IDENTIFIED APPROXIMATELY $100 MILLION OF ANNUALIZED EBITDA AND WORKING CAPITAL OPPORTUNITIES"​.RENT-A-CENTER - ‍IDENTIFIED ANNUALIZED COST SAVINGS OPPORTUNITIES OF $65 TO $85 MILLION, ABOUT TWO THIRDS OF WHICH IS EXPECTED TO BE REALIZED IN 2018​.‍WORKING CAPITAL BENEFITS OF $20 TO $25 MILLION, 100 PERCENT OF WHICH IS EXPECTED TO BE REALIZED IN 2018​.‍ QTRLY TOTAL REVENUES OF $639.0 MILLION DECLINED BY 6.6 PERCENT, ALSO DUE TO A SAME STORE SALES DECLINE OF 2.0 PERCENT​.SEES ‍ 2018 FREE CASH FLOW OF AT LEAST $130 MILLION​.RENT-A-CENTER - ‍REFRANCHISING BRICK & MORTAR LOCATIONS TO ENABLE CO TO MAINTAIN, GROW PRESENCE , USING PROCEEDS TO PAY DOWN DEBT​.  Full Article

Rent-A-Center Says CEO Mitchell Fadel's Annual Base Salary Will Be $800,000
Tuesday, 2 Jan 2018 01:42pm EST 

Jan 2 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER SAYS IN RELATION TO APPOINTMENT OF MITCHELL FADEL AS CEO, HE, CO AGREED HIS ANNUAL BASE SALARY WILL BE $800,000 - SEC FILING.  Full Article

Rent-A-Center Says Mitch Fadel Appointed CEO, Succeeding Mark Speese​
Tuesday, 2 Jan 2018 08:00am EST 

Jan 2 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER ANNOUNCES CEO TRANSITION.RENT-A-CENTER INC - ‍MITCH FADEL APPOINTED CEO SUCCEEDING MARK SPEESE​.RENT-A-CENTER INC - ‍FADEL WILL CONTINUE ROLE AS A MEMBER OF BOARD​.RENT-A-CENTER INC - COMPANY ALSO REITERATED ITS COMMITMENT TO ITS PREVIOUSLY ANNOUNCED STRATEGIC REVIEW PROCESS.  Full Article

Rent-A-Center Announces Proposal To Declassify Board Of Directors
Thursday, 21 Dec 2017 07:30am EST 

Dec 21 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER ANNOUNCES PROPOSAL TO DECLASSIFY BOARD OF DIRECTORS.RENT-A-CENTER INC - BOARD VOTED UNANIMOUSLY TO SUBMIT A PROPOSAL TO COMPANY'S STOCKHOLDERS AT ITS 2018 ANNUAL MEETING OF STOCKHOLDERS.RENT-A-CENTER - BOARD VOTED TO SUBMIT PROPOSAL TO AMEND CO'S CERTIFICATE OF INCORPORATION SUCH THAT ALL DIRECTORS WILL STAND FOR ELECTION ON ANNUAL BASIS.RENT-A-CENTER INC SAYS "ENGAGED CAPITAL FULLY SUPPORTS DECLASSIFICATION OF RENT-A-CENTER'S BOARD AND CORRESPONDING RESOLUTION".RENT-A-CENTER- AMENDMENT PERMITTING BOARD DECLASSIFICATION WILL REQUIRE APPROVAL OF STOCKHOLDERS REPRESENTING AT LEAST 80% OF SHARES ENTITLED TO VOTE.  Full Article

Rent-A-Center Inc Says Appointed J.V. Lentell As Chairman Of Board
Tuesday, 12 Dec 2017 04:15pm EST 

Dec 12 (Reuters) - Rent-A-Center Inc ::RENT-A-CENTER INC - APPOINTED J.V. LENTELL AS CHAIRMAN OF BOARD.  Full Article

Vintage Capital to take Rent-A-Center private in $1.37 billion deal

Rent-A-Center Inc agreed to be taken private by buyout firm Vintage Capital Management in a deal that valued the rent-to-own furniture retailer at $1.37 billion, including debt, following a year-long pressure from activist investors.