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.

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