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From Home Furnishing Business

Rent-A-Center’s Acceptance Now Locations Grow in 3Q

Rent-A-Center (NASDAQ: RCII) has increased Acceptance Now same store sales by 24.5 percent.

Thirty Acceptance Now staffed locations and 208 direct locations were opened during the third quarter of this year. Also, 18 staffed locations merged with existing locations, and three staffed locations were converted to direct locations. 

“The Acceptance Now location count increased 15 percent this quarter driven primarily by adding direct locations,” said Robert Davis, CEO of Rent-A-Center. “While we believe the staffed model will continue to be the gold standard for the industry, given its superior ability to drive volume and profit dollars, our direct channel enables the expansion of our offering to lower volume locations and broadens our scope of potential retailers.” 

Davis adds that Rent-A-Center recognizes that technology and innovation are critical to compete and are investing accordingly to continuously enhance their value proposition. 

Approximately 100 underperforming stores were closed or sold during the third quarter.

“By improving the return profile of existing assets through our strategic initiatives and by optimizing the store base, we are able to reinvest in new technology to support our rapidly growing Acceptance Now business,” Davis said.  

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