Rent-A-Center (RCII) Tops Q2 EPS by 1c

Rent-A-Center (NASDAQ: RCII) reported Q2 EPS of $0.50, $0.01 better than the analyst estimate of $0.49. Revenue for the quarter came in at $815.3 million versus the consensus estimate of $813.41 million.

Grows Consolidated Same Store Sales by 7.5 Percent and Achieves 1.4% Positive Same Store Sales in the Core U.S. Segment

Rent-A-Center sees Q3 2015 EPS of $0.40-$0.46, versus the consensus of $0.48.

Rent-A-Center sees FY2015 EPS of $2.05-$2.20, versus the consensus of $2.13.

"We continue to see progress toward transforming our Core business and profitably growing Acceptance Now," said Robert D. Davis, the Chief Executive Officer of Rent-A-Center, Inc. "Our Core U.S. business had a second consecutive quarter of positive same store sales, and lower costs helped us achieve improved profitability. Our Flexible Labor and Sourcing and Distribution initiatives have only just started to roll out which we believe will drive significant benefits in the back half of the year. The annualized run rate savings of these two initiatives alone is expected to be $45 to $60 million."

"Acceptance Now continues to deliver solid revenue growth at industry-leading margins. We provide the highest approval rates and invoice volume per location in the industry and drive meaningful growth for our retail partners. Through technology, we are expanding sales channels to include the Acceptance Now value proposition on retail partner websites, and improving the in-store customer experience through seamless capture of customer information," Mr. Davis concluded.

For earnings history and earnings-related data on Rent-A-Center (RCII) click here.

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