$RCII (Rent-A-Center, Inc.)

$RCII {{ '2016-03-10T22:17:21+0000' | timeago}} • Announcement

$RCII said it appointed Rishi Garg to its BoD. Mr. Garg was appointed by the BoD to fill a vacancy and will serve as a Class III director until the company's 2018 annual meeting of stockholders.

$RCII {{ '2018-01-05T10:41:55+0000' | timeago}} • Announcement

$RCII announced that Ross Beaton was promoted from Senior Director to Vice President of Real Estate.

$RCII {{ '2018-01-02T16:07:16+0000' | timeago}} • Announcement

$RCII, a provider of rent-to-own services, has appointed Mitchell Fadel as CEO, effective immediately. Fadel, a former President and COO of Rent-A-Center, succeeds Mark Speese who has decided to resign as CEO. Most recently, Fadel served as President – US Pawn for EZCORP, Inc. From 2000 to 2015, he held key posts at Rent-a-Center.

$RCII {{ '2018-01-02T13:23:46+0000' | timeago}} • Announcement

$RCII names former President and COO Mitchell E. Fadel as CEO, effective immediately. Mr. Fadel’s appointment follows Mark E. Speese’s decision to resign as CEO.

$RCII {{ '2017-12-21T17:29:21+0000' | timeago}} • Announcement

$RCII's BoD voted unanimously to submit a proposal to its stockholders at its 2018 Annual Meeting to amend the company's certificate of incorporation such that all directors will stand for election on an annual basis.

$RCII {{ '2017-12-12T22:23:11+0000' | timeago}} • Announcement

$RCII said Chris Crocker was promoted from Divisional VP to EVP over the ANOW line of business and Andy Bittinger was promoted from Regional Director to Divisional VP for ANOW. Bittinger will report to Crocker.

$RCII {{ '2017-11-17T13:24:56+0000' | timeago}} • Announcement

$RCII said that, in light of the ongoing review of strategic and financial alternatives by its BoD originally announced on Oct. 30, 2017, the company has determined to discontinue the monthly reporting of key operating metrics, until further notice.

$RCII {{ '2017-11-17T13:24:22+0000' | timeago}} • Announcement

$RCII reported same store sales for the month of October 2017 of down 3.4% at Core U.S. and up 4.7% at Acceptance NOW. In the Core U.S. segment, October same store sales continued improving sequentially for a sixth consecutive month, with an 80 basis point improvement from September.

$RCII {{ '2017-11-03T19:19:53+0000' | timeago}} • Announcement

$RCII has received a conditional, non-binding proposal from Vintage Capital Management, LLC to acquire all of the outstanding shares of the company for $13 per share in cash. $RCII’s BoD has initiated a process to explore strategic and financial alternatives. There is no assurance that this review will result in a transaction.

$RCII {{ '2017-09-20T14:16:04+0000' | timeago}} • Announcement

$RCII announced preliminary operating metrics for its Core US and Acceptance NOW businesses for August 2017. In the Core US business, same store sales were down 5.3% YoY. Delinquencies stood at 7.2%, 310BP favorable vs. prior year. Acceptance NOW same store sales were up 8.6% YoY while delinquencies were 10.3%, 190BP unfavorable vs. prior year.

$RCII {{ '2017-08-17T14:06:32+0000' | timeago}} • Announcement

$RCII said same store sales from Acceptance NOW increased 7.1% for the month of July 2017, which remain higher than last year due to a larger portfolio in those respective locations. However, given recent store consolidations driven by exit of partner locations in both Conn's and HH Gregg, revenue for overall segment was down mid-single digits.

$RCII {{ '2017-08-17T14:05:05+0000' | timeago}} • Announcement

$RCII said core U.S. same store sales for the month of July 2017 of down 5.7%. The store sales improved sequentially as the monthly rate of new agreements is beginning to have a more material impact on the portfolio. Delinquencies was 7.5%, 40 basis points unfavorable versus last month, while 450 basis points favorable versus last year.

$RCII {{ '2017-07-18T14:06:07+0000' | timeago}} • Announcement

$RCII, a provider of rent-to-own service, reported a 7.7% decline in core US same store sales in June. The Acceptance Now same store sales increased 8.6% YoY during the month. US delinquencies were 7.1%, 60 basis points unfavorable compared to the prior month. The Acceptance Now delinquencies of 8.1% was 90 basis points unfavorable versus May.

$RCII {{ '2017-06-27T12:52:25+0000' | timeago}} • Announcement

$RCII has appointed Martin Evans as EVP and Chief Human Resources Officer, effective July 18, 2017. Most recently, Evans served as EVP and Chief Human Resources Officer at Exeter Finance Corp. Prior to that, he held leadership roles at  BDP International Inc. and Kimberly-Clark Corp.

$RCII {{ '2017-06-15T13:27:45+0000' | timeago}} • Announcement

$RCII reported same store sales growth for the month of May 2017 in Acceptance NOW of 6%. In Acceptance NOW, same store sales remained higher than last year by mid-single digits.

$RCII {{ '2017-06-15T13:26:41+0000' | timeago}} • Announcement

$RCII reported same store sales for the month of May 2017 in Core US of 9.9%. In the Core U.S. segment, May same store sales improved sequentially due to the continued momentum of the strategic initiatives implemented to date, consistent account management execution and the benefit of a stronger calendar.

$RCII {{ '2017-06-08T15:28:29+0000' | timeago}} • Announcement

$RCII said its stockholders have voted at the annual stockholders meeting to elect Jeffrey J Brown, Mitchell E Fadel and Christopher B Hetrick, the nominees proposed by invest management firm Engaged Capital, to Rent-A-Center’s board of directors. They will be replacing directors Mark E Speese, Jeffery M Jackson and Leonard H Roberts.

$RCII {{ '2017-06-08T12:19:18+0000' | timeago}} • Announcement

$RCII declared a quarterly cash dividend of $0.08 per share. The dividend will be payable on July 20, 2017, to common stockholders of record as of the close of business on July 3, 2017.

$RCII {{ '2017-06-06T21:10:04+0000' | timeago}} • Announcement

$RCII closed amended credit agreement with its existing bank group. At closing, the company had total borrowings of $70MM and letters of credit and reserves of $101.8MM against the $350MM revolver. This leaves the company with $178.2MM of Availability. $RCII expects to fund the business through cash provided by operations for the balance of 2017.

$RCII {{ '2017-06-06T21:08:49+0000' | timeago}} • Announcement

$RCII announced the closing of an amended credit agreement with its existing bank group. The amended credit facility, which extends through March 2019, provides the company with the additional liquidity and flexibility needed to execute its strategic plan to drive growth, improve profitability and deliver enhanced stockholder value.

$RCII {{ '2017-06-01T20:01:04+0000' | timeago}} • Announcement

$RCII has urged shareholders to vote for its nominees Mark Speese, Jeffery Jackson and Leonard H Roberts, on the white proxy card, in the election of directors to the board. Responding to a statement by research firm Glass Lewis, Rent-A-Centre also asked shareholders to discard any blue proxy card received from investment firm Engaged Capital.

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