RENT-A-CENTER, INC. (NASDAQ:RCII) Files An 8-K Other Events
Item 8.01
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Other Events.
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Response to Engaged Capital
On April 25, 2017, the Company issued a press release responding to
Engaged Capital. A copy of this press release is attached to this
Current Report on Form 8-K as Exhibit 99.1.
Engaged Capital. A copy of this press release is attached to this
Current Report on Form 8-K as Exhibit 99.1.
Additional Information and Where to Find It
The Company intends to file a proxy statement with the U.S.
Securities and Exchange Commission (the SEC) with respect to its
2017 Annual Meeting. The Company stockholders are strongly
encouraged to read any such proxy statement, the accompanying white
proxy card and other documents filed with the SEC carefully in
their entirety when they become available because they will contain
important information. Stockholders will be able to obtain any
proxy statement, any amendments or supplements to the proxy
statement and other documents filed by the Company with the SEC
free of charge at the SECs website at www.sec.gov. Copies also will
be available free of charge at the Companys website at
www.rentacenter.com or by contacting the Companys Investor
Relations at 972-801-1100. The Company, its directors, executive
officers and other employees may be deemed to be participants in
the solicitation of proxies from the Companys stockholders in
connection with the matters to be considered at Rent-A-Centers 2017
Annual Meeting. Information about certain current directors and
executive officers of the Company is available in the Companys
proxy statement, dated April 18, 2016, for its 2016 Annual Meeting.
To the extent holdings of the Companys securities by such directors
or executive officers have changed since the amounts printed in the
2016 proxy statements, such changes have been or will be reflected
on Statements of Change in Ownership on Form 4 filed with the SEC.
More detailed information regarding the identity of potential
participants, and their direct or indirect interests, by security
holdings or otherwise, will be set forth in the proxy statement and
other materials to be filed with the SEC in connection with
Rent-A-Centers 2017 Annual Meeting.
Securities and Exchange Commission (the SEC) with respect to its
2017 Annual Meeting. The Company stockholders are strongly
encouraged to read any such proxy statement, the accompanying white
proxy card and other documents filed with the SEC carefully in
their entirety when they become available because they will contain
important information. Stockholders will be able to obtain any
proxy statement, any amendments or supplements to the proxy
statement and other documents filed by the Company with the SEC
free of charge at the SECs website at www.sec.gov. Copies also will
be available free of charge at the Companys website at
www.rentacenter.com or by contacting the Companys Investor
Relations at 972-801-1100. The Company, its directors, executive
officers and other employees may be deemed to be participants in
the solicitation of proxies from the Companys stockholders in
connection with the matters to be considered at Rent-A-Centers 2017
Annual Meeting. Information about certain current directors and
executive officers of the Company is available in the Companys
proxy statement, dated April 18, 2016, for its 2016 Annual Meeting.
To the extent holdings of the Companys securities by such directors
or executive officers have changed since the amounts printed in the
2016 proxy statements, such changes have been or will be reflected
on Statements of Change in Ownership on Form 4 filed with the SEC.
More detailed information regarding the identity of potential
participants, and their direct or indirect interests, by security
holdings or otherwise, will be set forth in the proxy statement and
other materials to be filed with the SEC in connection with
Rent-A-Centers 2017 Annual Meeting.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
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Exhibit 99.1
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Press Release regarding Statement in Response to Engaged
Capital issued April 25, 2017, by Rent-A-Center, Inc. |
Forward-Looking Statements
This press release contains forward-looking statements that involve
risks and uncertainties. Such forward-looking statements generally
can be identified by the use of forward-looking terminology such as
“may,” “will,” “expect,” “intend,” “could,” “estimate,”
“should,” “anticipate,” “believe,” or confident, or the
negative thereof or variations thereon or similar terminology. The
Company believes that the expectations reflected in such
forward-looking statements are accurate. However, there can be no
assurance that such expectations will occur. The Company’s actual
future performance could differ materially from such statements.
Factors that could cause or contribute to such differences include,
but are not limited to: the general strength of the economy and
other economic conditions affecting consumer preferences and
spending; factors affecting the disposable income available to the
Company’s current and potential customers; changes in the
unemployment rate; difficulties encountered in improving the
financial and operational performance of the Company’s business
segments; our chief executive officer and chief financial officer
transitions, including our ability to effectively operate and
execute our strategies during the interim period and difficulties
or delays in identifying and attracting a permanent chief financial
officer with the required level of experience and expertise;
failure to manage the Company’s store labor and other store
expenses; the Companys ability to develop and successfully execute
strategic initiatives; disruptions, including capacity-related
outages, caused by the implementation and operation of the
Company’s new store information management system, and its
transition to more-readily scalable, cloud-based solutions ; the
Companys ability to successfully market smartphones and related
services to its customers; the Company’s ability to develop and
successfully implement virtual or E-commerce capabilities,
including mobile applications; disruptions in the Company’s supply
chain; limitations of, or disruptions in, the Company’s
distribution network; rapid inflation or deflation in the prices of
the Company’s products; the Company’s ability to execute and the
effectiveness of a store consolidation, including the Company’s
ability to retain the revenue from customer accounts merged into
another store location as a result of a store consolidation; the
Company’s available cash flow; the Company’s ability to identify
and successfully market products and services that appeal to its
customer demographic; consumer preferences and perceptions of the
Company’s brand; uncertainties regarding the ability to open new
locations; the Company’s ability to acquire additional stores or
customer accounts on favorable terms; the Company’s ability to
control costs and increase profitability; the Company’s ability to
retain the revenue associated with acquired customer accounts and
enhance the performance of acquired stores; the Company’s ability
to enter into new and collect on its rental or lease purchase
agreements; the passage of legislation adversely affecting the
Rent-to-Own industry; the Company’s compliance with applicable
statutes or regulations governing its transactions; changes in
interest rates; adverse changes in the economic conditions of the
industries,
risks and uncertainties. Such forward-looking statements generally
can be identified by the use of forward-looking terminology such as
“may,” “will,” “expect,” “intend,” “could,” “estimate,”
“should,” “anticipate,” “believe,” or confident, or the
negative thereof or variations thereon or similar terminology. The
Company believes that the expectations reflected in such
forward-looking statements are accurate. However, there can be no
assurance that such expectations will occur. The Company’s actual
future performance could differ materially from such statements.
Factors that could cause or contribute to such differences include,
but are not limited to: the general strength of the economy and
other economic conditions affecting consumer preferences and
spending; factors affecting the disposable income available to the
Company’s current and potential customers; changes in the
unemployment rate; difficulties encountered in improving the
financial and operational performance of the Company’s business
segments; our chief executive officer and chief financial officer
transitions, including our ability to effectively operate and
execute our strategies during the interim period and difficulties
or delays in identifying and attracting a permanent chief financial
officer with the required level of experience and expertise;
failure to manage the Company’s store labor and other store
expenses; the Companys ability to develop and successfully execute
strategic initiatives; disruptions, including capacity-related
outages, caused by the implementation and operation of the
Company’s new store information management system, and its
transition to more-readily scalable, cloud-based solutions ; the
Companys ability to successfully market smartphones and related
services to its customers; the Company’s ability to develop and
successfully implement virtual or E-commerce capabilities,
including mobile applications; disruptions in the Company’s supply
chain; limitations of, or disruptions in, the Company’s
distribution network; rapid inflation or deflation in the prices of
the Company’s products; the Company’s ability to execute and the
effectiveness of a store consolidation, including the Company’s
ability to retain the revenue from customer accounts merged into
another store location as a result of a store consolidation; the
Company’s available cash flow; the Company’s ability to identify
and successfully market products and services that appeal to its
customer demographic; consumer preferences and perceptions of the
Company’s brand; uncertainties regarding the ability to open new
locations; the Company’s ability to acquire additional stores or
customer accounts on favorable terms; the Company’s ability to
control costs and increase profitability; the Company’s ability to
retain the revenue associated with acquired customer accounts and
enhance the performance of acquired stores; the Company’s ability
to enter into new and collect on its rental or lease purchase
agreements; the passage of legislation adversely affecting the
Rent-to-Own industry; the Company’s compliance with applicable
statutes or regulations governing its transactions; changes in
interest rates; adverse changes in the economic conditions of the
industries,
countries or markets that the Company serves; information
technology and data security costs; the impact of any breaches in
data security or other disturbances to the Company’s information
technology and other networks and the Company’s ability to
protect the integrity and security of individually identifiable
data of its customers and employees; changes in the Company’s
stock price, the number of shares of common stock that it may or
may not repurchase, and future dividends, if any; changes in
estimates relating to self-insurance liabilities and income tax
and litigation reserves; changes in the Company’s effective tax
rate; fluctuations in foreign currency exchange rates; the
Company’s ability to maintain an effective system of internal
controls; the resolution of the Company’s litigation; and the
other risks detailed from time to time in the Company’s SEC
reports, including but not limited to, its Annual Report on Form
10-K for the year ended December 31, 2016. You are cautioned not
to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. Except as
required by law, the Company is not obligated to publicly release
any revisions to these forward-looking statements to reflect the
events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.
technology and data security costs; the impact of any breaches in
data security or other disturbances to the Company’s information
technology and other networks and the Company’s ability to
protect the integrity and security of individually identifiable
data of its customers and employees; changes in the Company’s
stock price, the number of shares of common stock that it may or
may not repurchase, and future dividends, if any; changes in
estimates relating to self-insurance liabilities and income tax
and litigation reserves; changes in the Company’s effective tax
rate; fluctuations in foreign currency exchange rates; the
Company’s ability to maintain an effective system of internal
controls; the resolution of the Company’s litigation; and the
other risks detailed from time to time in the Company’s SEC
reports, including but not limited to, its Annual Report on Form
10-K for the year ended December 31, 2016. You are cautioned not
to place undue reliance on these forward-looking statements,
which speak only as of the date of this press release. Except as
required by law, the Company is not obligated to publicly release
any revisions to these forward-looking statements to reflect the
events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.
About RENT-A-CENTER, INC. (NASDAQ:RCII)
Rent-A-Center, Inc. is a rent-to-own operator in North America. The Company provides an opportunity to obtain ownership of products, such as consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories), under rental purchase agreements. The Company operates in four segments: Core U.S., Acceptance Now, Mexico and Franchising. Its Core U.S. and Mexico stores generally offer merchandise from over five basic product categories: consumer electronics, appliances, computers (including tablets), smartphones and furniture (including accessories). The Acceptance Now segment provides an on-site rent-to-own option at a third-party retailer’s location. Its Franchising segment engages in the sale of rental merchandise to its franchisees who, in turn, offer the merchandise to the general public for rent or purchase under a rent-to-own transaction. It offers brands, such as LG, Frigidaire, Acer, Apple, Asus, Samsung, Ashley, Powell and Standard. RENT-A-CENTER, INC. (NASDAQ:RCII) Recent Trading Information
RENT-A-CENTER, INC. (NASDAQ:RCII) closed its last trading session down -0.12 at 10.89 with 1,658,774 shares trading hands.
