Rent-A-Center Adjusts To Changing COVID-19 Pandemic

As the COVID-19 outbreak advanced, Rent-A-Center reported that January and February sales trended positively, running about 4% up compared to the year-prior months. But March revenues trended down about 5% year over year as national efforts to contain the virus took hold.

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 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 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.

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.

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