rent-a-center inc (RCII) Key Developments
Rent-A-Center, Inc. Promotes Jonathan Parks to Vice President of Global Logistics and Distribution
May 15 15
Rent-A-Center, Inc. announced the promotion of Jonathan Parks to vice president of global logistics and distribution. Reporting to John Butler, Rent-A-Center senior vice president, supply chain, Parks is responsible for the design, management and optimization of distribution and logistics operations both internationally and domestically.
Parks joined Rent-A-Center in 2010 as a member of the strategic-planning team and was quickly promoted to director of distribution and logistics. In 2014 Parks was promoted to senior director of distribution and logistics. Prior to joining Rent-A-Center, Parks held similar logistics positions with The Container Store and UPS where he was responsible for various business functions including process development and improvement, training and forecasting.
Rent-A-Center Promotes Mitch Jones to Vice President Operations Support
May 15 15
Rent-A-Center, Inc. announced the promotion of Mitch Jones to vice president of operations support. Reporting to Jeff White, Rent-A-Center executive vice president of domestic rent-to-own, Jones is responsible for leading the day-to-day support of Rent-A-Center’s core rent-to-own operations. Additional duties include oversight of initiatives tied to operational improvement, cost savings, and technological enhancements. After joining Rent-A-Center in 2002 as a store manager, Jones was promoted to district manager the following year. In 2009, Jones moved to Rent-A-Center’s field support center where he was named senior manager of strategic planning. Jones quickly ascended the corporate ladder, holding positions including director of strategic planning and senior director of strategic initiatives.
Aaron's Reportedly Thwarts Rent-A-Center's Approaches
Apr 28 15
Aaron's, Inc. (NYSE:AAN) turned down several informal takeover approaches in the last 12 months from Rent-A-Center, Inc. (NasdaqGS:RCII), according to people familiar with the matter. The sources added that Rent-A-Center's took place earlier this year but did not lead to serious discussions between the two companies. Aaron's opposed the approaches as it favors its standalone prospects and does not view Rent-A-Center's stock as a valuable acquisition currency. The sources added that there are currently no active talks between the companies. A representative for Aaron's declined to comment while Rent-A-Center did not immediately respond to requests for comment, Reuters added.
Rent-A-Center, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Revises Earnings Guidance for the Full Year 2015
Apr 27 15
Rent-A-Center, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenues of $877,639,000 against $828,473,000 a year ago. Operating profit was $56,598,000 against $59,458,000 a year ago. Earnings before income taxes were $44,210,000 against $44,080,000 a year ago. Net earnings were $27,298,000 against $27,266,000 a year ago. Diluted earnings per common share were $0.51 against $0.51 a year ago. Total capital expenditures were $14,245,000 against $23,108,000 a year ago. Cash flow from operations was $228.0 million. Net income excluding special items was $27,541,000 or $0.52 per share against $29,872,000 or $0.56 per share a year ago. Total revenue before special items (Non-GAAP) was $877,639,000 against $828,473,000 a year ago. Adjusted EBITDA was $76,753,000 against $79,344,000 a year ago.
The company expects consolidated revenue to be at the high end of guidance range due to higher Acceptance Now revenue, which projected to be between $850 million and $875 million for the full year of 2015, offset by gross profit margins that projected to decline more than the 50 to 100 basis points outlined in February.
Rent-A-Center, Inc. to Report Fiscal Year 2014 Final Results on Apr 20, 2015
Apr 20 15
Rent-A-Center, Inc. announced that they will report fiscal year 2014 final results on Apr 20, 2015