Rent-A-Center, Inc.

Overview

Date Founded

2002

Headquarters

5501 Headquarters Drive, Plano, TX, 75024, USA

Type of Company

Public

Employees (Worldwide)

14.5K

Industries

Consumer Services
Consumer Finance
Appliances & Electronics
Retail: Other
Other Business & Consulting Services

Company Description

Rent-A-Center, Inc. engages in the provision of furniture, electronics, appliances, computers, and smartphones through flexible rental purchase agreements. It operates through the following segments: Core U.S., Acceptance Now, Mexico, and Franchising. The Core U.S. segment consists of company-owned rent-to-own stores in the United States, Canada, and Puerto Rico. The Acceptance Now segment offers an on-site rent-to-own option at a third-party retailer's location. The Mexico segment consists of its company-owned rent-to-own stores in Mexico. The Franchising segment sells rental merchandise to its franchisees. The company was founded by Mark E. Speese on September 16, 1986 and is headquartered in Plano, TX.

Website

http://www.rentacenter.com

Contact Data

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In The News

Nasdaq

February 28, 2021

Rent-A-Center, Inc. (NASDAQ:RCII) Just Reported Full-Year Earnings And Analysts Are Lifting Their Estimates

Nasdaq

December 11, 2020

Rent-A-Center Inc. (RCII) Ex-Dividend Date Scheduled for December 14, 2020

Business Wire

November 23, 2020

U.S. Alternative Financial Services Market Analysis 2020: A $36 Billion Business - ResearchAndMarkets.com

Nasdaq

November 19, 2020

Rent-A-Center Unveils New Digital Platform to Accelerate Growth as the Lease-to-Own Landscape Evolves

Business Wire

October 15, 2020

Rent-A-Center, Inc. Announces Third Quarter 2020 Earnings Call and Webcast

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Executives & Employees

Mitchell E. Fadel

Director & Chief Executive Officer

Maureen Short

Executive Vice President & Chief Financial Officer

Bryan Pechersky

Executive Vice President, General Counsel & Corporate Secretary

Ann Davids

Executive Vice President-Chief Marketing Officer

Catherine M. Skula

Chief Development Officer & Executive Vice President

Michael J. Santimaw

Chief Information Officer & Senior Vice President

Russell Goin

Chief Human Resources Officer & Senior Vice President

Andrew M. Trusevich

Senior Vice President & Assistant General Counsel

Norma Garcia

Vice President-Assistant General Counsel, Risk Management & Safety & Diversity & Inclusion

Karl F. Hightower

Senior Director Information Management

Board of Directors

Jeffrey J. Brown

Founding Member at Brown Equity Partners LLC

Carol A. McFate

Former Chief Investment Officer & Assistant Treasurer at Xerox Corporation

Mitchell E. Fadel

Director & Chief Executive Officer at Rent-A-Center, Inc.

Michael J. Gade

Principal Lecturer, Department of Marketing & Logistics at University of North Texas - G. Brint Ryan College of Business

Christopher B. Hetrick

Member, Director-Research at Engaged Capital LLC

B. C. Silver

Independent Director at Rent-A-Center, Inc.

Harold Lewis, Jr.

Former Chief Executive Officer at Renovate America, Inc.

Glenn Marino

Former Executive Vice President, Chief Executive Officer of Payment Solutions & Chief Commercial Officer at Synchrony Financial

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Rent-A-Center, Inc.

Owners & Shareholders

Details Hidden

Engaged Capital LLC

Engaged Capital employs s a long “constructive activist” strategy to identify attractive investment opportunities over the full cycle of market and economic conditions. They seek investments that can be made at discounts to our estimates of intrinsic value as determined by fundamental analysis and where there are one or more identifiable catalysts for recognition of that value within a defined investment timeframe. The firm utilizes multiple sources of information in analyzing investments, including financial newspapers and magazines, inspections of corporate activities, research material prepared by others, corporate rating services, annual reports, prospectuses, filings with the SEC, and company press releases. They also use industry magazines, third party consultants, regulatory filings filed with US regulators, contacts at major companies and corporate executives, commercial and investment banks, financial intermediaries, other investment and advisory institutions, other direct and indirect contacts, and corporate performance measurement and valuation screening software.

Details Hidden

Fuller & Thaler Asset Management, Inc.

FTAM uses both fundamental and quantitative research as methods of analysis for their investment strategies; however, their investment approach does not fall into either the traditional fundamental or quantitative categories. The firm’s strategies primarily invest in US listed companies and are a long only in stocks that they believe, based on its analysis, are undervalued. FTAM’s investment strategies include small-cap growth, small-cap value, small-cap core, behavioral small-cap equity, behavioral mid-cap value, micro-cap, behavioral unconstrained equity, behavioral small-mid core equity, and behavioral all-cap equity.

Details Hidden

Hood River Capital Management LLC

HRCM manages Small-Cap Growth and Small/Mid-Cap Growth equity portfolios. The firm primarily uses fundamental methods of security analysis. The investment strategies used to implement any investment advice given to clients include long-term purchases and short-term purchases. Their portfolio is constructed on an organic, bottom-up basis driven by the firm’s original research.

Recent Transactions

Details Hidden

Rent-A-Center, Inc. purchases CC Financial Corp.

Details Hidden

goeasy Ltd. purchases Rent A Center, Inc. /14 Canadian Stores from Rent-A-Center, Inc.

Details Hidden

Rent-A-Center, Inc. purchases The Rental Store, Inc.

Insider Transactions

Details Hidden

Anthony J. Blasquez

Details Hidden

Jeffrey J. Brown

Transaction Advisors

Auditor

Grant Thornton LLP

Advised onRent-A-Center, Inc. issued USD Common Stock

Investment Advisor

Bear, Stearns & Co., Inc.

Advised onRent-A-Center, Inc. purchases Rent-Way, Inc.

Underwriter

Lehman Brothers, Inc.

Advised onRent-A-Center, Inc. issued USD Common Stock

Legal Advisor

Thomas William Hughes

Advised onRent-A-Center, Inc. purchases Rent-Way, Inc.

Legal Advisor

Alan L. Aronson

Advised onRent-A-Center, Inc. purchases Rent-Way, Inc.

Associate

Bryan Larson

Advised onRent-A-Center, Inc. purchases Rent-Way, Inc.

Advisors & Consultants

Legal Advisor

Irene Bruce Hathaway

Director at Miller Canfield PLC

Legal Advisor

Arthur D. Robinson

Partner at Simpson Thacher & Bartlett LLP

Clients

Acer, Inc.

Acer, Inc. engages in the research and development of user interface, industrial design, information and communication technologies related software and hardware, and electronic sports related applications. Its products include computers, laptops, smartphones, smart cameras, virtual reality, web servers, and browsing tools. It also offers software and repair services. The company was founded by Chen Jung Shih on August 1, 1976 and is headquartered in Taipei, Taiwan.

Key Stats and Financials As of 2019

Market Capitalization

$2.81B

Total Enterprise Value

$2.06B

Earnings Per Share

$3.1

Revenue

$2.67B

Net Profit

$174M

Total Debt

$516M

Total Equity

$459M

TEVNet Income

11.87x

Debt TEV

0.25x

Enterprise Value / Sales

0.77x

EBITDA

$254M

EBITDAMargin

9.52%

Enterprise Value EBITDAOperating

6.98x

Three Year Compounded Annual Growth Rate Of Revenue

-3.42%

Non-Profit Donations & Grants

$50K - $100K

2018

Feeding America

$2,500 - $4,999

2018

Junior Achievement of Southern Colorado, Inc.

$2,500 +

2017

Dallas Children's Advocacy Center

Political Donations

$1,000

2014

Susan A. Bonilla

$1,000

2014

David Scott

$1,000

2013

Mike Ross

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LG Electronics, Inc. Appliances & Electronics | Seoul, South Korea

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Competitors

Berkshire Hathaway, Inc. Other Insurance Services - Greenwich, Connecticut

Berkshire Hathaway, Inc. provides property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing, and services. It operates through following segments: GEICO, Berkshire Hathaway Reinsurance Group, Berkshire Hathaway Primary Group, Burlington Northern Santa Fe, LLC (BNSF), Berkshire Hathaway Energy, McLane Company, Manufacturing, and Service and Retailing. The GEICO segments involves in underwriting private passenger automobile insurance mainly by direct response methods. The Berkshire Hathaway Reinsurance Group segment consists of underwriting excess-of-loss and quota-share and facultative reinsurance worldwide. The Berkshire Hathaway Primary Group segment comprises of underwriting multiple lines of property and casualty insurance policies for primarily commercial accounts. The BNSF segment operates railroad systems in North America. The Berkshire Hathaway Energy segments deals with regulated electric and gas utility, including power generation and distribution activities, and real estate brokerage activities. The McLane Company segment offers wholesale distribution of groceries and non-food items. The Manufacturing segment includes industrial and end-user products, building products, and apparel. The Service and Retailing segment provides fractional aircraft ownership programs, aviation pilot training, electronic components distribution, and various retailing businesses, including automobile dealerships, and trailer and furniture leasing. The company was founded by Oliver Chace in 1839 and is headquartered in Omaha, NE.

Ashley Furniture Industries, Inc. Furniture - Arcadia, Wisconsin

Ashley Furniture Industries, Inc. manufactures furniture. It offers living room furniture such as chairs and ottomans, entertainment centers, occasional tables, recliners, reclining sofas, sectionals, sofas and loveseats. It also offers bedroom, home accents, dining room, and home office furniture, and mattresses. The company was founded by Carlyle Weinberger in 1945 and is headquartered in Arcadia, WI.

Rooms To Go, Inc. Furniture - Seffner, Florida

Rooms To Go, Inc. owns and operates furniture retail stores. Its products include mattresses, sofas, chairs, tables, queen beds, and sectionals. The company was founded by Jeffrey R. Seaman and Morty Seaman in 1991 and is headquartered in Seffner, FL.

Awards & Honors

Rank #675

2016

Fortune Magazine - Fortune 1000 Companies