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Rent-A-Center

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602:. Employees in the Field Support Center have also volunteered over 1,000 hours to Dallas-area food banks during the annual North Texas Food Bank campaign. Rent-A-Center has also donated more than $ 1.25 million to 11 other food banks across the country since 2009. This is in addition to the grassroots hunger-relief campaign staged across Rent-A-Center's 3,000-plus U.S. stores throughout the month of September. Originally dubbed "Soup to Nuts", now "Fill the Fridge", this effort supports Hunger Action Month. This virtual food drive leverages Rent-A-Center's stores as collection points for cash donations. The donated funds are distributed to food banks across the U.S. and Puerto Rico at the conclusion of the month-long campaign. 504:. In May 2004, Rent-A-Center completed the acquisitions of Rainbow Rentals, Inc. and Rent Rite, Inc. Rent-A-Center completed its acquisition of competitor Rent-Way, Inc. on 15 November 2006, for a price of approximately $ 600.3 million. At the time of the acquisition, Rent-Way was ranked number three in the rent-to-own industry with 782 stores in 34 states. The Rent-Way store acquisition program brought the store total to 3,535 stores. Given that the acquisition resulted in over-penetration in some markets, Rent-A-Center carried out the closing or merging of 282 stores between 2007 and 2009. With 123 Mexico stores as of December 2019, Rent-A-Center is continuing its expansion in Mexico. 611: 622: 591:
children of customers and coworkers. Since 2004, Rent-A-Center has awarded more than $ 850,000 in scholarships to college students. Through the Random Acts of Caring initiative, which was launched in 2008, RAC has donated merchandise and funding to charitable organizations located in communities where Rent-A-Center maintains retail locations. Ninety-eight Random Acts of Caring have taken place since 2008, totaling $ 531,300 in contributions. Since 2007, the company has contributed over $ 600,000 in grants to
560:. As part of their rent-to-own business model, Rent-A-Center generally makes its items available with small initial payments and no long term obligations. Customers can return an item at any time, for any reason, without penalty and also have the option to re-rent the same item and pick up the payments where they left off. Delivery, pick-up, service and repair are also included in the stated rental price. Customers can also upgrade items while they are renting—the payments will change accordingly. 527: 567:, in the Legacy Business Park. Construction began on the 175,000-square-foot (16,300 m) building in January 2006. Employees moved into the building on 16 March 2007. The current headquarters measures three stories and includes structured parking for 400 vehicles, a fitness center, game room and lunchroom. In January 2020, Cawley Partners announced the acquisition of the Rent-A-Center corporate office, leasing back 60 percent of the building to Rent-A-Center. 465: 131: 710: 25: 340: 323: 306: 289: 272: 724: 675:, which sided with RAC in a 5–4 decision. The court held that if a company's arbitration agreement includes a clause delegating fairness challenges to the arbitrator, a court must enforce that agreement and send the matter to arbitration. When Jackson first sued, Rent-A-Center cited its arbitration agreement and claimed that any challenges to the agreement had to be decided by the arbitrator. 652:
discrimination. The settlement also led Rent-A-Center to seek qualified women to serve on its board of directors, develop equal employment training programs, and hire a new human resources vice president to implement hiring policies that ensured equal employment opportunity for female job applicants and current employees.
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In 2000, Rent-A-Center was sued for sexual bias in the hiring of women. The 2002 settlement agreement resulted in a $ 47 million cash payment by Rent-A-Center and mandated that Rent-A-Center offer 10% of future vacancies over the following 15-month period to women who were found to be past victims of
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during the 1960s when he told customers of his store, Mr. T's Rental, that they had rented a washer and dryer for a long enough duration that they had paid for it in full and now owned it. Thomas Devlin, a former employee of Mr. T's rental, recognized the potential of renting name-brand products and
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In August 2019, Rent-A-Center completed the acquisition of Merchants Preferred, a nationwide provider of virtual lease-to-own services. After acquiring Merchants Preferred, Rent-A-Center unveiled its integrated retail partner offering, Preferred Lease. Preferred Lease is the combined business model
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locations, in which each club selects $ 5,000 worth of new furniture, electronics and computers for their room. Rent-A-Center also contributed to Boys and Girls Clubs of America with four tech centers in 2014. Rent-A-Center has annually allocated $ 60,000 worth of scholarships to customers and the
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stock exchange in 1995 under the symbol "RCII". In August 1998, Renters Choice acquired Thorn Americas, Inc., which operated 1,474 stores in 49 states and the District of Columbia under the name "Rent-A-Center". On 31 December 1998, Renters Choice changed its name to Rent-A-Center, Inc. and began
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Inc., is America's first franchisor of independently owned-and-operated rent-to-own stores. Its franchisees operate 162 rent-to-own stores in 31 states under the Rent-A-Center and ColorTyme brand names, and the company's wheels-and-tires franchise brand, RimTyme, operates 31 stores in 13 states.
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joined Rent-A-Center in 1979. In 1986, Mr. Speese and a colleague left Rent-A-Center and started a competing business known as Vista Rent-To-Own. Ernest Talley then joined Vista Rent-To-Own as chairman of the board of directors in 1989 and remained Chairman through Vista's transition to
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credit sale outlets after a judicial decision held that the state's consumer protection laws defining credit sales included rent-to-own businesses. Rent-A-Center is also known as Acceptance Now or Preferred Lease within its partner stores in the US in which it has kiosks.
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In 2001, Talley retired and Speese was appointed as Rent-A-Center's Chairman and CEO. In February 2003, Rent-A-Center acquired 295 stores from Rent-Way, Inc. In March 2004, Rent-A-Center commenced operating in Canada with the acquisition of five stores located in
644:. Consumer advocates believe that rent-to-own transactions such as those offered by Rent-A-Center should be treated as credit sales, and point out that the final price of a product can be two or three times the retail price. In an April 2000 507:
Launched in 2006, under the brand name RAC Acceptance, Rent-A-Center, Inc. operates lease-to-own kiosks within third-party retail locations across the country. The kiosks transitioned to the AcceptanceNOW brand in January 2014.
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Vista Rent-To-Own changed its name to Renters Choice, Inc. in December 1993, in connection with the acquisition from DEF Investments, Inc. and certain related entities of an 84 store rent-to-own chain operating in 12 states.
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Attorney General's Office sued Rent-A-Center and accused the national lease-to-own chain of unfair and deceptive collection practices under Washington's Consumer Protection Act, Rent-A-Center agreed to settle.
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Another prominent case in 2010 included Rent-A-Center vs. Jackson which arose out of an employment discrimination claim brought on by former RAC employee Antonio Jackson. The case went all the way to the
427:; and approximately 1,359 Acceptance Now kiosks housed within retail partner stores throughout the United States. Its subsidiary, Rent-A-Center Franchising International Inc. (RACFI), formerly known as 698:
In Mexico, the company is simply known as RAC (sounded out like the word "rack"), and the company operates as Home Choice in Minnesota, also due to similar rent-to-own laws from those in Wisconsin.
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Mark Speese retired as Rent-A-Center CEO at the end of January 2014. Rent-A-Center CFO Robert Davis served as CEO from January 2014 to January 2017, when Mark Speese returned as interim CEO.
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for $ 3.4 million. With this agreement, Rent A Center & EasyHome signed a 3-year agreement to a non-compete contract that each company cannot open any stores in each other's countries.
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In 2020, Rent-A-Center settled a California class action suit for $ 13 million, with the suit involving a group of customers challenging improper add-on freight charges.
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locations, collected by means of fundraisers held on an annual basis in Rent-A-Center stores. Between 2005 and 2010, Rent-A-Center donated and set up 116 "RAC Rooms" at
1383: 1777: 1713:"U.S. Supreme Court Shuts Courthouse Door to Consumers, Employees Challenging Unfair Arbitration Clauses" (Press release). Targeted News Service. 21 June 2010. 1681: 1277: 1365: 813: 1725: 46: 39: 1303: 1815: 946:"BUYINS.NET: XOM, GCI, HOLX, EXXI, RCII, PCBC Expected To Be Lower After Earnings Releases on Monday" (Press release). M2 PressWIRE. 29 January 2010. 843: 920: 448:
On February 22, 2023, the company changed its corporate name from Rent-A-Center, Inc. to Upbound Group, Inc. The new stock market ticker is UPBD.
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study on the industry, 75% of respondents stated that they were satisfied with their rent-to-own experience, whereas 19% were dissatisfied.
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Rent-A-Center supports charities that provide family and youth empowerment opportunities. Beginning in 2003, the company made donations to
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In 2006, Rent-A-Center settled for $ 7 million in restitution and $ 750,000 in civil penalties for deceptive business practices in
1825: 1820: 1059: 412:. The company was incorporated in 1986 and as of 2014 operates approximately 2,972 company-owned stores in the United States, 1699: 1566: 1491: 1045:"Rent-to-Own News - Speese Honored for Lifetime of Entrepreneurship" (Press release). Targeted News Service. 10 November 2009. 898: 1240: 1218: 1196: 992: 869: 595:
and, in addition, Rent-A-Center employees volunteer annually to teach financial literacy to students in Dallas-area schools.
89: 61: 583: 1592:"Rent-A-Center Donates $ 250,000 Through National Hunger Relief Program" (Press release). Business Wire. 31 August 2010. 1281: 672: 598:
Since 2003, Rent-A-Center has provided monetary and product contributions totaling nearly $ 1.2 million to date to the
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and Mexico, accounting for approximately 35% of the rent-to-own market in the United States based on store count.
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RAC provides new and used brand-named furniture, appliances, computers and electronics from brands, such as
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of AcceptanceNOW's staffed lease-to-own business with Merchants Preferred's virtual lease-to-own business.
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Provides furniture, electronics, computers and household appliances available under rent-to-own agreements
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In January 2018, Mark Speese stepped down as CEO and was succeeded by former president Mitchell Fadel.
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Dan Voorhis (11 September 2003). "Rent-A-Center Founder Honored at Wichita, Kan., State University".
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partnered with W. Frank Barton and founded the Rent-A-Center brand in Wichita, Kansas in 1973.
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Rent-A-Center's operations include 24 retail installment stores called Get It Now (based in
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Steve Quinn (22 November 2003). "The Dallas Morning News Collin County Business Column".
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In March 2007, the corporate office moved to a new location at 5501 Headquarters Drive,
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Broke, USA: From Pawnshops to Poverty, Inc. - How the Working Poor Became Big Business
1682:"Rent-A-Center Deceived Thousands of Californians in Marketing Services, Memberships" 988: 641: 615: 159: 729: 541: 501: 437: 332: 873: 1366:"Rent-A-Center Completes Acquisition of Merchants Preferred | Rent-A-Center" 557: 457: 210: 1129:
Michael Saul (31 March 1995). "10 Texas firms make Fortune's fast-growth list".
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Tom Held (13 November 2002). "Rent-A-Center settles lawsuit filed by state".
1684:. California Office of the Attorney General. 17 November 2006. Archived from 1086:"THORN EMI MOVES IN ON US RETAIL MARKET WITH $ 600m TENDER FOR RENT-A-CENTER" 791: 715: 149: 1607: 564: 532: 442: 405: 222: 1304:"Rent-A-Center to Rebrand Its Growing Kiosk Business | Rent-A-Center" 637: 472: 413: 401: 398: 178: 1659: 656: 358: 298: 163: 1778:"Rent-A-Center Announces New Preferred Lease Broader Service Offering" 687: 477: 428: 424: 420: 394: 174: 130: 464: 24: 1466:"New "RAC Room" Will Provide Postive [sic] Place For Teens" 526: 497: 492:
operating all of its stores under the "Rent-A-Center" brand name.
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Steven Walters (8 March 2004). "Doyle defends OK on rent bill".
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list of the largest U.S. corporations, based on revenues alone.
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In July 2015, Rent A Center sold several Ontario Locations to
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The rent-to-own business was started by Ernie Talley in
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American furniture and electronics rent-to-own company
1322:"Rent-A-Center, Inc. Announces Management Transition" 705: 1278:"Rent-A-Center Acquires Rent Way For $ 567 Million" 781: 779: 777: 775: 773: 1792: 1656:The U.S. Equal Employment Opportunity Commission 770: 1692: 1519:"102 and Counting: RAC's Random Acts of Caring" 956: 1746: 1440:"EasyHome Acquires 14 Rent A Centre locations" 1622: 1262:"Rent-A-Center completes Rent-Way purchase". 1152: 1128: 1706: 1550: 1544: 1280:. RTO Online. 6 August 2006. Archived from 1233: 1029: 987:. New York, NY: HarperCollins. p. 26. 605: 1529: 1341:"Rent-A-Center CEO Mark Speese steps down" 1100: 808: 806: 804: 802: 480:acquired Rent-A-Center for $ 594 million. 441:listed Rent-A-Center at number 711 on the 1740: 1596: 1420:LLC, Fill in the Blank (6 January 2020). 109:Learn how and when to remove this message 1816:Furniture retailers of the United States 1761: 1270: 1038: 976: 686:The Rent-A-Center company converted its 620: 609: 525: 463: 1189: 1181:"RENT-A-CENTER GIVES PROFITS WARNING". 1054: 1052: 950: 893: 891: 862: 836: 799: 363:Rent-A-Center Franchising International 1806:American companies established in 1986 1793: 1516: 1394: 1255: 1211: 1137: 1122: 982: 959:"Fortune 1000 Companies List for 2014" 521: 45:Please improve this article by adding 1755: 1723: 1458: 1174: 1023: 1001: 530:Rent-A-Center headquarters building, 1811:Retail companies established in 1986 1585: 1338: 1049: 913: 888: 636:concerns have been raised about the 468:Truck delivering Rent-A-Center items 18: 1419: 1401:"Headquarters Completed in Plano". 640:industry, including accusations of 584:Big Brothers Big Sisters of America 13: 957:Caitlin Dempsay (14 August 2014). 757:"Rent-A-Center Executive Officers" 749: 487:Renters Choice went public on the 14: 1837: 1517:Wegman, Laurie (18 August 2015). 939: 1724:Hayes, Peter (27 January 2020). 1442:. Marketwire L.P. Archived from 923:. 10 August 2010. Archived from 820:. 10 August 2010. Archived from 722: 708: 662:In 2010, seven months after the 339: 338: 322: 321: 305: 304: 288: 287: 271: 270: 129: 23: 1801:Companies based in Plano, Texas 1770: 1717: 1674: 1644: 1559: 1510: 1484: 1468:(Press release). Archived from 1432: 1413: 1376: 1358: 1332: 1314: 1296: 1078: 588:Boys and Girls Clubs of America 577: 1826:Companies listed on the Nasdaq 681: 1: 1821:1986 establishments in Kansas 743: 47:secondary or tertiary sources 1088:. Tech Monitor. 29 July 1987 787:"Rent-A-Center, Inc. (RCII)" 423:); 17 Home Choice stores in 7: 701: 190:; 51 years ago 10: 1842: 1764:Milwaukee Journal Sentinel 1749:Milwaukee Journal Sentinel 1630:"Federal Trade Commission" 1146:Investment Dealers' Digest 627:Fort Walton Beach, Florida 451: 844:"Rent-A-Center Employees" 386:(commonly referred to as 367: 357: 347: 330: 313: 296: 279: 266: 258: 253:Sudeep Gautam (CTO, CDO) 233: 217: 184: 170: 147: 137: 128: 1388:investor.rentacenter.com 1370:investor.rentacenter.com 1308:investor.rentacenter.com 646:Federal Trade Commission 606:Reception and litigation 476:Rent-A-Center. In 1987, 1553:The Dallas Morning News 1339:CNBC (2 January 2018). 1264:Dallas Business Journal 1131:The Dallas Morning News 899:"Acceptance Now Kiosks" 814:"Rent-A-Center Profile" 326:US$ 1.58 billion (2019) 629: 618: 537: 469: 343:US$ 459 million (2019) 309:US$ 125 million (2019) 292:US$ 193 million (2019) 275:US$ 2.6 billion (2019) 251:Ann Davids (CMO, CCO) 34:relies excessively on 983:Rivlin, Gary (2010). 624: 613: 600:North Texas Food Bank 550:Whirlpool Corporation 529: 467: 1782:www.businesswire.com 1326:www.businesswire.com 1284:on 18 December 2010 1266:. 15 November 2006. 1148:: 28. January 1995. 1009:"The Barton Legacy" 634:consumer protection 522:Business operations 384:Rent-A-Center, Inc. 349:Number of employees 125: 124:Rent-A-Center, Inc. 1784:. 22 January 2020. 1523:Rent-A-Center Blog 1472:on 28 October 2014 1446:on 17 January 2016 1403:Texas Construction 1328:. 10 January 2017. 1185:. 10 October 2001. 1066:on 2 February 2013 927:on 24 January 2010 921:"Company Overview" 870:"About Get It Now" 738:Closed-end leasing 630: 619: 593:Junior Achievement 538: 470: 123: 1610:on 26 August 2004 1538:The Roanoke Times 1536:"Giving Briefs". 1199:. 5 November 2003 1183:The Wichita Eagle 1032:The Wichita Eagle 994:978-0-06-173321-5 876:on 15 August 2013 850:on 5 October 2007 642:predatory lending 616:Hillsboro, Oregon 404:company based in 390:) is an American 381: 380: 119: 118: 111: 93: 1833: 1786: 1785: 1774: 1768: 1767: 1759: 1753: 1752: 1744: 1738: 1737: 1735: 1733: 1728:. 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