Strong Comps Help Drive Rent-A-Center Q2
After announcing that it was acquiring Merchants Preferred, an online leasing business, Rent-A-Center posted a strong second quarter.
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Rent-A-Center To Purchase Merchants Preferred
Weeks after settling litigation related to a purchase deal, Rent-A-Center has entered into a definitive agreement to acquire substantially all of the assets of C/C Financial Corp., which does business as Merchants Preferred, a nationwide provider of virtual rent-to-own services.
Rent-A-Center Settles Litigation With Vintage Capital
Rent-A-Center has agreed in principle to settle all litigation with Vintage Capital Management, and B. Riley Financial relating to the company’s termination of an agreement and plan of merger last year with certain affiliates of Vintage Capital.
Rent-A-Center Ends Merger Agreement, Vintage Capital Responds
Rent-A-Center said that the company has terminated a previously announced merger agreement plan with certain affiliates of Vintage Capital Management, LLC.
Rent-A-Center Shareholders Approve Merger Agreement
In a special meeting on September 18, Rent-A-Center shareholders approved a merger deal with Vintage Rodeo, an affiliate of Vintage Capital Management, according to a filing with the United States Securities and Exchange Commission.
Rent-A-Center Q2 Improves As Acquisition Faces Court Challenge
In the midst of an acquisition process, Rent-A-Center posted an earnings increase for its second quarter while its ongoing merger was questioned in court.
Vintage Capital To Acquire Rent-A-Center
Vintage Rodeo Parent, an affiliate of Vintage Capital Management, will acquire all outstanding shares of Rent-A-Center common stock for $15 per share in cash.
Rent-A-Center Q1 Falls Short
Rent-A-Center was hit by costs associated with a strategic repositioning and weather effects during its first quarter.
Rent-A-Center Suffers Rough Q4
For the fourth quarter, and as it put in place a new strategic plan, Rent-A-Center posted net earnings and diluted earnings per share of $34.8 million and 65 cents versus a net loss and diluted loss per share of $146.4 million and $2.76 in the year-earlier period.
Rent-A-Center Appoints Fadel CEO
Rent-A-Center has appointed Mitchell Fadel, the company’s former president and chief operating officer and a current member of its board of directors, CEO, effective immediately.
Rent-A-Center Promotes Crocker, Bittinger
Rent-A-Center has promoted two long-time employees of its AcceptanceNOW division, Chris Crocker and Andy Bittinger.
Rent-A-Center Seeks Alternatives After Posting Q3 Loss
As the retailer posted a third quarter loss, the Rent-A-Center board of directors has initiated a process to explore strategic and financial alternatives.
Rent-A-Center Rejects Takeover Bid
Rent-A-Center has rejected a proposal from Vintage Capital Management to acquire the retailer in a go-private transaction that was valued at $15 per share.
Rent-A-Center Names Speese CEO, Unveils New Growth Plan
Rent-A-Center has appointed Mark Speese to the CEO role and launched a new strategic plan developed to restore growth, improve profitability and maximize value by strengthening the core business in the United States while growing its AcceptanceNow business and leveraging technology investments.
Engaged Capital Challenges Rent-A-Center On Turnaround
Engaged Capital, an activist investing firm, has issued a letter to the Rent-A-Center board challenging the direction in which the management is taking the company, and Rent-A-Center has responded.
Rent-A-Center Reports Bumpy Q4
Although the company could not post GAAP net or per diluted per share loss as it determines income tax effects of goodwill impairment, Rent-A-Center reported that its fourth quarter loss before income taxes was $170.9 million versus $1.13 billion loss in the period a year prior including a $1.17 billion goodwill impairment charges taken in the core business segment in the United States.
Davis Leaves Rent-A-Center, Speese Named Interim CEO
Robert Davis has resigned as Rent-A-Center CEO and director effective immediately. Chairman Mark Speese, the company’s founder and former chief executive, will serve as interim CEO of the company until a permanent successor is named.
Rent-A-Center POS System Troubles To Hit Third Quarter Results
After encountering problems with a new point of sales system, Rent-A-Center pre-released selected preliminary, unaudited financial results for the quarter ended September 30 that includes a substantial sales decrease.
Rent-A-Center Appoints Hodges Divisional VP
Rent-A-Center, Inc. has appointed Ralph Hodges divisional vp. He reports to Jeff White, evp, the company announced. Hodges will manage…