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Rent-A-Center Company profile

About Rent-A-Center Inc

Rent-A-Center, Inc. is a rent-to-own operator in North America. The Company is focused on providing products, such as consumer electronics, appliances, computers, smartphones and furniture, under rental purchase agreements. The Company’s segments include Rent-A-Center Business, Acima, Mexico and Franchising. The Rent-A-Center Business segment consists of lease-to-own stores in the United States and Puerto Rico that lease household durable goods to customers on a lease-to-own basis. The Acima segment offers the lease-to-own transaction through virtual offering solutions across e-commerce, digital, and mobile channels, and through staffed and unstaffed kiosks located within such retailer’s locations. The Mexico segment consists of lease-to-own stores in Mexico that lease household durable goods to customers on a lease-to-own basis. The Franchising segment is engaged in the sale of rental merchandise to its franchisees.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Rent-A-Center Inc revenues increased 63% to $4.58B. Net income decreased 35% to $134.9M. Revenues reflect Acceptance Now segment increase from $810.2M to $2.33B, Core U.S segment increase of 10% to $2.04B, Mexico segment increase of 21% to $61.4M, Retail Sales-Rentals and fees increase of 56% to $3.52B. Net income was offset by Corporate segment loss increase from $172.3M to $373M.

Equity composition

Common Stock $.01 Par, 3/11, 250M auth., 107,261,412 issd., less 43,714,209 shs. in Treas. @ $932.8M. Insiders own 2.96%. IPO 2/95, 2.6M shares @ $10 by Rauscher Pierce Refsnes. PO 11/95, 3.65M shares @ $16 by Rauscher Pierce. PO 5/01, 3.2M shares (1M by the Co.) @ $42.50 by Morgan Stanley Dean Witter.