After Shutting Stores, Rent-A-Center Earnings Up
After closing 315 stores over the past year, Plano, Texas-based Rent-A-Center announced Monday that net earnings increased 16.2 percent to $29.4 million during its third quarter.
Total revenues for Rent-A-Center, which has 3,045 company stores, decreased by about $900,000 to $708.8 million, but same-store sales increased 3.4 percent. Officials said earnings were negatively affected by Hurricanes Gustav and Ike.
“We met our guidance for same store sales, revenues and, when giving consideration for the impact of the hurricanes, diluted earnings per share,” said Mark Speese, chairman and CEO.