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

$RCII {{ '2016-07-21T17:34:15+0000' | timeago}} • Announcement

$RCII said it promoted Doug Guziec to SVP and general manager of national accounts for AcceptanceNow. He will report to Mark Denman, EVP, AcceptanceNow.

$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.

$RCII {{ '2017-05-30T11:35:08+0000' | timeago}} • Announcement

$RCII issued response to a report by Institutional Shareholder Services (ISS) regarding the election of directors to its Board. $RCII Board unanimously recommended the "For" vote to its three highly qualified nominees; Mark Speese, Jeffery Jackson & Leonard Roberts. ISS had earlier challenged the qualification of Jeffery Jackson & Leonard Roberts.

$RCII {{ '2017-05-15T13:16:07+0000' | timeago}} • Announcement

In April, $RCII's delinquencies in Core US segment was 6.5% and 40 basis points unfavorable versus prior month. Meanwhile, delinquencies in Acceptance NOW was 7.9% and 90 basis points favorable versus prior month.

$RCII {{ '2017-05-15T13:15:39+0000' | timeago}} • Announcement

$RCII's BoD unanimously recommends stockholders vote the White proxy card FOR the company's highly-qualified and experienced director nominees: Mark Speese, Jeffery Jackson and Leonard Roberts at its 2017 annual meeting, which will be held on June 8, 2017.

$RCII {{ '2017-05-15T13:14:02+0000' | timeago}} • Announcement

$RCII said its same store sales declined 13% for Core US segment in April due to lower rental and fees revenues caused primarily by one less business day YoY. In Acceptance NOW segment, it rose 5.5% due to delay in tax refunds as merchandise sales remained close to double digits.

$RCII {{ '2017-05-10T14:10:48+0000' | timeago}} • Announcement

$RCII has appointed Joel Mussat as COO, effective May 5, 2017. Mussat most recently served as the COO of Vixxo Inc.

$RCII {{ '2017-05-08T14:15:16+0000' | timeago}} • Announcement

$RCII mailed a letter to its stockholders in connection with its 2017 Annual Meeting to be held on June 8, 2017. The Board unanimously recommends stockholders vote the WHITE proxy card "FOR" the company's highly-qualified and experienced director nominees.

$RCII {{ '2017-04-20T15:37:04+0000' | timeago}} • Announcement

$RCII March 2017 Core U.S same store sales fell 9.6%. Average monthly rate of new agreements was 6.6% unfavorable versus prior year. For Acceptance NOW, same store sales grew 12.4% in March.

$RCII {{ '2017-04-10T12:04:16+0000' | timeago}} • Announcement

As a result of its new strategic plan, $RCII expects to achieve revenue growth in low single digits, EBITDA margin of 7.5-8.5%, free cash flow of $70-90MM and EPS of $1.20-1.40 in 2018. For 2019, $RCII expects to achieve revenue growth in mid single digits, EBITDA margin of 9.5-10.5%, free cash flow of $110-130MM and EPS of $2-2.25.

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