Rent-A-Center, Inc. Provides Business Update in Response to COVID-19 Pandemic
Rent-A-Center Inc. (RCII)
Last rent-a-center inc. earnings: 2/24 05:12 pm
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US:NASDAQ Investor Relations:
investor.rentacenter.com
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Source: Business Wire
PLANO, Texas--(BUSINESS WIRE)--Rent-A-Center, Inc. (the "Company" or "Rent-A-Center") (NASDAQ/NGS: RCII) today provided an update on its business trends and its actions to respond to COVID-19.Revenue Update“The majority of our Rent-A-Center stores remain open to assist customers during this crisis. In fact, about 75% are fully operational with about 25% operating with a closed off showroom and only a handful fully closed. We are seeing strong demand for essential products such as appliances and computers while our ecommerce transaction flow has more than doubled, partially offsetting the reduced activity due to stay at home orders,” said Mitch Fadel, Chief Executive Officer of Rent-A-Center. “Although many of our Preferred Lease retail partners are closed, Preferred Lease customers continue to be able to make payments online or over the phone, which drives ongoing payment activity during this period.”While we experienced favorable trends to start the quarter with January and Febru
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