Rent-A-Center (RCII) Tops Q1 EPS by 2c

Rent-A-Center (NASDAQ: RCII) reported Q1 EPS of $0.52, $0.02 better than the analyst estimate of $0.50. Revenue for the quarter came in at $877.6 million versus the consensus estimate of $863.33 million.

Core U.S. same store sales increased by 1.0 percent, representing a sequential improvement of 160 basis points. Since the first quarter of 2014, the two-year same store sales comp has improved by 970 basis points. The increase is primarily due to the new smartphone product category and higher merchandise sales.

Acceptance Now same store sales increased 34.1 percent, a sequential improvement of 570 basis points, driven by the continued maturation of the business and the introduction of 90 day option pricing. There were 53 Acceptance Now staffed locations opened and 27 closed during the quarter.

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

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