) announced the opening of a new store each in Wake Forest, N.C.
and West Haverstraw, N.Y. on Nov 15, 2013. The company conducts
operations through 119 locations in North Carolina and 179
locations in New York.
Last month, Rent-A-Center opened a new outlet in Circleville,
Ohio, where it operates through 167 locations.
These moves reflect the company's extensive network and with
its sheer geographic reach, it is able to effectively penetrate
into its target markets, helping it generate healthy sales and
gain competitive advantage over its rivals,
) and Advance America.
During the recently concluded quarter, the largest rent-to-own
operator in the U.S., opened 6 new Core U.S. locations, acquired
6 stores and consolidated 10 stores with existing locations,
bringing the total store count to 2,974. The company also opened
112 RAC Acceptance stores, consolidated 10 stores with existing
locations and closed 1, resulting in 1,254 stores.
Twenty two international locations were opened and 2 stores
consolidated with existing locations during the quarter, bringing
the count to 168 stores. Rent-A-Center Franchising International,
which is a wholly owned subsidiary of Rent-A-Center, added 4 new
locations and closed 12 locations, with the total store count
remaining at 213.
For 2013, management plans to open approximately 60
rent-to-own locations in Mexico. Moreover, the company aims at
about 365 domestic RAC Acceptance kiosk additions.
This Zacks Rank #5 (Strong Sell) company offers consumer
electronics, appliances and furniture products under rental
purchase schemes that allow customers to own the merchandise upon
completion of the rental period.
Though Rent-A-Center is currently unfavorably positioned owing
to its dismal third-quarter 2013 results and trimmed guidance,
other stocks worth considering in the related industry include
Horizon Technology Finance Corporation
BlackRock Kelso Capital Corporation
), both holding a Zacks Rank #2 (Buy).
AARONS INC (AAN): Free Stock Analysis Report
BLACKROCK KELSO (BKCC): Free Stock Analysis
HORIZON TECHNOL (HRZN): Free Stock Analysis
RENT-A-CENTER (RCII): Free Stock Analysis
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